Cyprus Mail

Outgoing CBC boss has sent updated list of PEPs’ bad loans to House

The issue dates back to when Chrystalla Georghadji was governor of the central bank

Outgoing Cyprus Central Bank (CBC) Governor Chrystalla Giorghadji has sent to House President Demetris Syllouris a list of non-performing loans of politically exposed persons (PEPs), implementing the bank’s its commitment to parliament to update the list.

CBC press spokeswoman Aliki Stylianou, told CNA that Georghadji, who is to step down in the coming days, sent the list on Friday, April 5.

Asked by CNA about whether the governor had complied with the commitment she had given at the House finance committee meeting on December 3, 2018 to file the list to Parliament, Stylianou said the governor had forwarded the list as prepared and sent to the central bank by the credit institutions.

In December last year, Georghadji told MPs she had stopped looking into bad loans of politically exposed persons because she “got scared” when police seized her computers and questioned her.

Georghadji told the House finance committee that in 2015 she began gathering data on PEPs who had bad loans with Cypriot banks and that later in the same year someone had leaked a list of MPs and their loans at Bank of Cyprus to the press.

It showed that out of the 37 MPs listed, 19 owed the bank a total of €51.2m and 13 of those had Non-Performing Loans (NPLs) totalling €35.3m.

At the time, furious MPs spoke of an attempt by the Central Bank to blackmail lawmakers through leaks to the press with information about their loan arrears.

Following a complaint filed by independent MP Zaharias Koulias that his personal data had been violated, police entered the Central Bank with warrants to search the premises.

According to Georghadji, when she went to her office one day she found yellow police tape around it.

“The police told me they were seizing my computer. It is a serious matter, there was a criminal investigation, and my mea culpa was that perhaps I got scared.”

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