Ahead of the parliamentary elections, two organised groups representing people whose savings got wiped out in the 2013 bank bail-in have asked the political parties to explicitly commit to restitution.

The two groups sent letters to all the legacy parties, as well as to the new parties contesting the elections, demanding their positions on four issues.

First, an in-depth investigation into the events of 2013; second, the speeding up of disbursements to burned savers via the Solidarity Fund; third, ensuring continued funding for the purposes of restitution; and fourth, exempting the affected savers from legal fees.

Regarding the latter point, the two groups say that the state insists on demanding the savers incur legal fees on lawsuits that have since been withdrawn.

The two groups are the association of legacy Laiki depositors (Sykala) and the association of bondholders with Bank of Cyprus and legacy Laiki (Sykata).

In their letter, they highlight the “heinous economic crime” (referring to the haircut) and the ongoing absence of accountability, stressing that despite successive governments having come and gone since 2013, no one has been “punished” for the decisions that led to the bail-in.

Responding to the savers, a number of parties issued statements promising to help them recoup their losses.

Statements were issued by Disy, Diko, the Ecologists’ Movement, Edek, Dipa and Elam.

Akel, Volt, Alma and Direct Democracy had not responded by Monday.

Disy said they support gradual full restitution of the burned savers by 2035.

Edek stated they will push for an investigation. Dipa said a second disbursement to burned savers should be possible within 2026.

Under the 2013 bailout programme between Cyprus and international lenders, large depositors were forced to pay for the recapitalisation of the Bank of Cyprus, heavily exposed to debt-crippled Greece.

As for Laiki, all uninsured deposits there were wiped out, and the lender was wound down and its operations folded into the Bank of Cyprus.

Total ‘haircut’ losses are estimated at €2 billion.

In June last year parliament made €100 million available for 2025 to compensate savers and bondholders burned in the 2013 bank bail-in.

By September 2025, the government had paid out €44 million under this ‘partial replenishment scheme’.