Cabinet approves debt relief scheme for homeowners
The long-awaited debt relief scheme for vulnerable homeowners was approved by the cabinet on Wednesday and is expected to be fully implemented by the end
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State co-op asset management agency reports €180m in NPL revenues
The state-owned Cyprus Asset Management Company (Kedipes), established to administer whatever assets were not sold to Hellenic Bank after the Co-op Bank was shuttered, reported
MPs delay bills on NPL disclosures
LAWMAKERS on Thursday kicked the can down the road on legislation that would oblige them, the president and ministers to declare whether they have non-performing
Outgoing CBC boss has sent updated list of PEPs’ bad loans to House
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),
Estia beneficiaries should not worry about eviction, says Averof
Borrowers with non-performing loans (NPLs) with a mortgage on their primary residence, the value of which does not exceed €350,000, should not worry about being
Non-performing loans drop by €5.6 billion due to co-op sale
Non-performing exposures (NPEs) in the Cyprus banking system dropped to €11.02 billion in September 2018 marking a €5.6 billion reduction since end-June 2018 as Hellenic
Final witnesses testify in last day of Co-op inquiry
The end for the Co-operative Bank was sealed when the European supervisors lost their confidence, the lender’s former CEO said on Wednesday, in what was
The ‘glaring flaw’ in Estia
Economy pundits feel vindicated by island’s lenders saying home-loan default plan has ‘fairness issues’ By George Psyllides THE European Stability Mechanism (ESM) has added its
Finance minister lied about Co-op, says auditor-general (Update 1)
Auditor-general Odysseas Michaelides said on Monday that Finance Minister Harris Georgiades publicly lied and misled the both the council of ministers and the bank’s supervisor over the donation of
NPLs drop to below €20bn in March, CBC says
By Stelios Orphanides Non-performing loans in the Cypriot banking system dropped in March by almost €2.1bn to €19.9bn in a month, which is the lowest
House poised to pass bill to sweeten sale of debtors’ homes
MPs of the ruling Disy party sounded upbeat on Monday that a series of bills granting tax relief to bank debtors would make it
MPs to vote on tax relief for bank debtors
Parliament is expected by July to vote on a package of legislative proposals granting tax relief to bank debtors. On Monday, the House finance committee
Cyprus in race against time to reduce NPLs
By Stelios Orphanides The Finance Ministry and the Central Bank of Cyprus on Thursday presented political parties with proposals to resolve the non-performing loans problem
Hellenic completes sale of €144m NPLs to B2Kapital
By Stelios Orphanides Hellenic Bank said that it completed the sale of a €144m non-performing loans portfolio to B2Kapital Cyprus Ltd, a unit of Norway’s
House to postpone discussion of pre-2014 mortgage bill
The House finance committee on Monday said it would for the time being sit on a bill proposing that mortgages granted prior to passage of
Bill seeks to exempt pre-2014 mortgages from foreclosure laws
Banks may be required to raise additional capital should a law be enacted exempting approximately half of mortgaged properties from foreclosures, officials cautioned on Monday.
State’s €2.5bn for co-op ‘allays depositor fears’
The government’s action to deposit €2.5bn at the co-op bank reassures customers not to worry about their money, its spokesman said on Wednesday. “This huge
BoC CEO pushes for action on NPLs
The Bank of Cyprus CEO John-Patrick Hourican on Wednesday urged the business community in Cyprus to increase the legal and political pressure to move towards
Positive outlook but NPLs a concern says S&P
Standard & Poor’s has affirmed Cyprus’s BB+ sovereign credit rating and kept its outlook on positive citing the risks the economy faces from the banks’
Co-op put up for sale
The co-op bank on Monday opened a virtual data room that will be used by potential investors to securely exchange data and analyses, as the