WORLD
Fitch or lowered Cyprus’s three major commercial banks rating
Baku, May 22 (AZERTAC). Fitch Ratings on Monday the credit ratings of the three biggest commercial banks in Cyprus to join the negative watch list, means that in the near future may cut the ratings of these banks.
The rating agency said that the Cyprus banking sector has a huge exposure to the Greek debt is still highly sensitive to developments in Greece, especially if the country out of the euro.
Cyprus President Demetris - Christofias (Demetris Christofias,) had told the media that he did not rule out the euro area to provide relief funds to help the country’s second largest Bank of Cyprus Popular Bank the possibility of recapitalization.
Fitch Popular Bank is the largest bank debt exposure in Greece, of its total loans as at the end of 49%, followed by 34% of the Bank of Cyprus (Bank of Cyprus), the third The place is 17% of the Bank of Greece (Hellenic Bank). However, significantly reduce the total value of bonds held by the three banks exposure to the Greek government bonds has dropped significantly.