Loan restructurings decline to a year low
Loan restructurings in the Cypriot banking sector declined to their lowest level this year, as the banks enter into the more difficult cases of non-performing...
loan restructuring
BoC completes restructuring of Leptos loans
Restructuring of Bank of Cyprus’ loans to Leptos Group, one of Cyprus’ biggest building developers, has been completed successfully, the lender announced on Tuesday. In...
Ombudsman resolves first NPL disputes
By Angelos Anastasiou SIX out of eight cases referred to the Financial Ombudsman’s office relating to €1.2m worth of previously non-performing loans (NPLs) were successfully...
Banks misleading borrowers over restructuring loans
By Angelos Anastasiou BANKS AND cooperative credit institutions do not follow the Central Bank of Cyprus’ (CBC) Code of Conduct in restructuring loans, and all...
Loan restructuring to slow for stress tests
LOAN restructuring will slow down until the European Union’s bank stress tests are completed, Central Bank Governor Chrystalla Georghadji said on Tuesday. Banks are busy...
Pressured borrowers threaten to stop payments
By Angelos Anastasiou ASSOCIATIONS representing distressed borrowers have threatened to freeze all loan payments by the end of June in protest over the banks’ practice...
Cabinet extends authority of financial ombudsman
By Staff Reporter THE cabinet yesterday approved draft legislation extending the authority of the financial ombudsman to include mediation on loan restructuring when the collateral...
Bankers raise CBC definition of NPLs with troika
THE Central Bank of Cyprus (CBC) definition of non-performing loans is still a headache for the association of bankers who discussed their concerns with technocrats...
Cyprus Mail Financial advice service: Multiple creditors and foreclosures
By George Mountis I received dozens of calls from Cyprus Mail readers this week regarding loan restructuring and foreclosures. Below is an explanation of how...
Beware the pitfalls of restructuring loans
Dr George Mountis ACCORDING to new data provided by the ECB for August, despite the fact that interest rates on deposits in Cyprus have decreased...
Cabinet tackles loan restructuring
By Stefanos Evripidou THE GOVERNMENT yesterday announced a series of measures to ensure banks and their clients reach a fair compromise on how to restructure...