Fitch warns of Cyprus banks risk

28 Aug 2021

Fitch said the small Cypriot economy and the private sector have a lot of leverage (private debt was 210% of GDP end of 2020), making the economy more vulnerable to external shocks.
The weak financial position of banks limits business opportunities and new viable lending options in a small and highly leveraged economy.
Fitch said Cypriot banks have not benefited from structural solutions to clear their balance sheets in 2020-2021.

https://www.financialmirror.com/2021/08/28/fitch-warns-of-cyprus-banks-risk/