BoC and Hellenic banks expected to sell €4b worth of bad loans
The two biggest banks are expected to offload around €4 billion in non-performing loans (NPLs) in the coming months, central bank governor Constantinos Herodotou said...
Non-performing loans (NPLs)
Our View: House president shows true colours over MPs’ bad loan list
IN HIS first public appearance after being elected House president in 2016, Demetris Syllouris announced that he would introduce measures to improve the standing of...
Failure of mortgage relief scheme a ‘negative development’
The lack of interest by stricken borrowers in the Estia mortgage-relief scheme is a negative development for the state-owned Cyprus Asset Management Company (Kedipes), officials...
The need for equity investment to boost the Cyprus economy
By George Theocharides Since the crisis of 2013, the economy of Cyprus has shown impressive resilience and improvement. From negative growth rates, we now have...
HFC to have access to NPL database
The government said Monday it is drafting a bill giving the Housing Finance Corporation (HFC) access to a bank database with information on non-performing loans....
Debt-relief scheme will not cover those who are servicing loans says minister
The government said Monday that the Estia debt-relief scheme will apply only to distressed borrowers, excluding those who are able to pay off their loans....
Official launch of Estia scheme to help home owners in arrears
The mortgage-relief scheme Estia for struggling home owners was officially launched on Monday with the opening of applications for the scheme which will be accepted...
CBC chief tells bankers to exhaust all options with NPLs
CENTRAL Bank of Cyprus (CBC) governor Constandinos Herodotou on Thursday met with the chief officers of banks licensed in Cyprus, mainly discussing lenders’ approach to...
Bad debts will fall to single digits, finance minister predicts
The government aims to reduce bad debts to single digits, Finance Minister Harris Georgiades said on Wednesday, as the cabinet approved the strategic fiscal policy...
Economy improving but difficult decisions remain says minister
The government aims to bring public debt below 90 per cent by the end of 2020 and reduce non-performing loans (NPLs) to single digits, Finance...
Troika concerned over persistent NPLs
The Cyprus economy may be demonstrating positive growth rates, but the persisting high levels of public debt and non-performing loans (NPLs) must be addressed, the...
House president defends MPs with NPLs voting on related laws
House of Representatives president Demetris Syllouris said on Friday there was nothing improper with MPs who had non-performing loans voting on related bills, as he...
EU green light expected for contentious bad loan payback scheme
A scheme aimed at helping vulnerable homeowners repay their mortgages is expected to receive the green light from the European Commission sometime in November without...
Minister to unveil controversial scheme to aid debt defaulters
Finance minister Harris Georgiades will next Monday be unveiling the final version of the ‘Estia’ scheme targeted at vulnerable homeowners who are in arrears with...
Bad loans in Cyprus decline by €3.28bn since March
Non-performing exposures (NPEs) in the Cypriot banking system declined to 40.3 per cent of total loans in the end of June, marking a reduction of...
President says he working to ensure sustainable development
President Nicos Anastasiades said on Thursday that the government is continuing to work determinedly towards the development of the economy and to boost main productive sectors....
NPLs up by €14m in May, Central Bank says
Non-performing loans in the Cypriot banking system rose by €13.9m in May, to €19.9m, compared with April, mainly on households failing payments, the Central...
What the new foreclosure bills mean
The package of bills passed by parliament on Sunday makes it easier for financial institutions to remove bad loans from their balance sheets, expedites...
MP facing conflict of interest allegations over loans
Independent MP Anna Theologou is facing accusations of conflict of interest after it emerged that she provided consultancy services to delinquent debtors with their properties...
Implications of the shambolic co-op deal
By Leslie Manison The deal negotiated for the Hellenic Bank to acquire the “good part” of the Cyprus Cooperative Bank (CCB) and for the government...
