banks | Cyprus Mail

CBC, stakeholders agree on ten steps to speed up banking procedures

Source: Cyprus News AgencySeptember 7, 2021

By Source: Cyprus News AgencySeptember 7, 20210436

The Central Bank of Cyprus (CBC), professional regulatory bodies and business stakeholders have agreed on ten steps to rationalise banking procedures. These include Know-Your Client...

Banking and Finance Business Cyprus

Banks expect stricter lending criteria for households

Source: Cyprus News AgencyAugust 24, 2021

By Source: Cyprus News AgencyAugust 24, 20210793

Banks expect stricter lending criteria for households, unchanged criteria for lending to businesses and an increase in the demand for loans in all categories for...

Business Cyprus

Battle lines drawn in row over foreclosures

Elias HazouAugust 1, 2021August 1, 2021

By Elias HazouAugust 1, 2021August 1, 202101326

This past week saw another episode in the long-running saga The ongoing tussle between the government camp and the opposition over freezing bank foreclosures has...

Business Cyprus Featured

Latest EU stress tests show Cyprus banks resilient

Source: Cyprus News AgencyJuly 31, 2021

By Source: Cyprus News AgencyJuly 31, 202102310

The European Central Bank (ECB) has published the results of the 2021 stress tests, which show that the euro area banking system is resilient to...

Cyprus Featured

In special session, House to revisit foreclosures

Elias HazouJuly 27, 2021July 27, 2021

By Elias HazouJuly 27, 2021July 27, 202101297

The House plenum will convene in an extraordinary session on Tuesday to revisit a bill that further renews a moratorium on foreclosures and which President...

Cyprus

Only ten Estia applications left to process from over 6,000

Jean ChristouJuly 18, 2021

By Jean ChristouJuly 18, 20210539

Only ten applications remain to be examined under the Estia programme to assist distressed mortgage holders, it was reported on Sunday. Total applications for Estia...

Cyprus

MPs say trying to protect small businesses from unfair bank contracts

George PsyllidesMarch 9, 2021

By George PsyllidesMarch 9, 20210345

The House commerce committee is trying to afford small businesses protection from unfair terms and conditions included in standard bank contracts through a bill on...

Cyprus Featured

Opposition seeks to beef up watchdog’s role in banks

Elias HazouMarch 8, 2021

By Elias HazouMarch 8, 20210485

An opposition party said Monday it will table a bill that would make decisions taken by the financial ombudsman legally binding on banks. Angelos Votsis,...

Cyprus

Lawmakers welcome first court ruling against bank

Staff ReporterMarch 2, 2021

By Staff ReporterMarch 2, 202101015

Lawmakers on Thursday welcomed the first court judgment against a bank for unfair terms of contract, but still harangued the banks for acting with “impunity”...

Cyprus

Borrowers who suspended their loans are restructuring

George PsyllidesFebruary 5, 2021

By George PsyllidesFebruary 5, 20210835

Many borrowers who opted to use a scheme suspending loan payments for nine months in a bid to cope with the financial fallout of the...

Cyprus

Discussion of bill to protect consumers from banks begins

George PsyllidesJanuary 26, 2021

By George PsyllidesJanuary 26, 202101489

The House commerce committee on Tuesday began discussion of a bill designed to protect consumers from unfair terms included in bank contracts but also bad...

Cyprus

Rejection of budget jeopardises recovery planning, Central Bank warns

Source: Cyprus News AgencyDecember 23, 2020December 23, 2020

By Source: Cyprus News AgencyDecember 23, 2020December 23, 202001371

The Central Bank of Cyprus (CBC) said on Wednesday that the rejection of state budget for 2021 by the parliament was a negative development that...

Cyprus

MPs extend freeze on foreclosures until next March

Staff ReporterDecember 17, 2020

By Staff ReporterDecember 17, 20200742

The House on Thursday passed an amendment to the law extending a freeze on property foreclosures until the end of March 2021. The foreclosures to...

Cyprus

MPs urge banks to be lenient with stricken SMEs

George PsyllidesNovember 17, 2020

By George PsyllidesNovember 17, 20200836

MPs urged banks on Tuesday to show sensitivity towards stricken small and medium businesses (SME), as lenders show reluctance to lend money amid the coronavirus...

Cyprus

Coronavirus: ATMs for all transactions below 500 euros says Hellenic Bank

Nick TheodoulouNovember 9, 2020

By Nick TheodoulouNovember 9, 202006368

Hellenic Bank announced that key services will be changing from Monday, stating that customers will have to use ATMs for cash withdrawals for amounts less...

Cyprus

Finance ministry warns against any more changes to foreclosure processes

Jean ChristouNovember 1, 2020November 2, 2020

By Jean ChristouNovember 1, 2020November 2, 202001094

Any extension of the freezing of foreclosures until the end of the year or beyond, would bring potential negative effects and disproportionate costs to both...

Guest Columnist Opinion

The challenges facing the banking and financial sectors

CM Guest ColumnistOctober 25, 2020

By CM Guest ColumnistOctober 25, 20200727

By Andreas Charalambous and Omiros Pissarides The well-known economist Rüdiger Dornbusch argued that a crisis takes a long time to materialise but it then happens...

Cyprus

Banks warn suspending foreclosures could do more harm than good

George PsyllidesOctober 19, 2020October 19, 2020

By George PsyllidesOctober 19, 2020October 19, 202001463

Banks have warned that suspending foreclosures would do more harm than good as opposition parties were poised to do just that, tabling five bills citing...

Cyprus

Five separate bills freezing foreclosures to be discussed at House finance committee

Jean ChristouOctober 18, 2020October 18, 2020

By Jean ChristouOctober 18, 2020October 18, 202001472

Five bills tabled by various political parties with the central focus of freezing foreclosures will be discussed on Monday at the House Finance Committee. The...

Cyprus

Complexity of law amendment sees finance committee pass it over to legal affairs

Elias HazouJuly 22, 2020July 22, 2020

By Elias HazouJuly 22, 2020July 22, 20200468

Lawmakers on Tuesday decided to transfer to the House legal affairs committee a government bill amending the Law of Evidence, which would grant credit-acquiring companies...