PEPs had substantial loan amounts written off (Updated)
Politically exposed persons (PEP) had substantial loan amounts written off or swapped debt for assets of lower value, among others, an audit into the entity...
NPLs
Opposition seeks to beef up watchdog’s role in banks
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,...
Banks warn suspending foreclosures could do more harm than good
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...
Our View: Payment culture won’t improve while politicians protecting those not repaying debts
In his appearance before the House finance committee on Monday, Central Bank governor Constantinos Herodotou was asked by deputies about the protection of ‘vulnerable borrowers,’...
Coronavirus: Finance minister upbeat, central bank very concerned about NPLs
Finance Minister Constantinos Petrides sought to strike an upbeat note on Monday, saying that economic output is forecast to shrink by about 7 per cent...
MPs to decide whether to publish PEPs list (updated)
An ad hoc committee discussing a list that includes the names of politically exposed persons (PEPs) with non-performing loans decided Monday to recommend either publishing...
Syllouris opposes publishing ‘unreliable’ loans list, one deputy has NPL of €10 (Update 2)
House president Demetris Syllouris said Friday a list including the names of politically exposed persons (PEPs) with loans was unreliable and could not assist any...
MPs to decide whether to make public bad debts of politically exposed persons
MPs will decide by July 17 on whether to publish a list of politically exposed persons (PEPs) with bad debts, House president Demetris Syllouris said...
NPLs expected to increase in 2021, no ‘magic solutions’
Central Bank Governor Constantinos Herodotou said on Tuesday he expected a rise in non-performing loans in 2021 because of the effects of the coronavirus crisis,...
House finally asks for Central Bank input over MPs’ bad loans
After months of prevarication, MPs on Thursday agreed to invite Central Bank Governor Constantinos Herodotou before the House watchdog committee to inform them about a...
MP calls on colleagues for action over NPLs
Akel MP Irini Charalambidou is sounding a wakeup call to fellow legislators sitting on the House watchdog committee to follow up on the infamous list...
CBC: NPLs may have fallen but they’re still in the economy
While the Central Bank of Cyprus (CBC) was happy to see banks’ exposure to NPLs reduce due to deleveraging, it was not thrilled that these...
Gesy, NPLs and state payroll priorities says finance minister
Finance Minister Harris Georgiades on Tuesday said safeguarding the financial viability of Gesy and the remaining non-performing loans, and the management of court decisions on...
Ratings agency confirms Cyprus standing
German-based ratings agency Scope has affirmed Cyprus’ BBB- sovereign rating with a stable outlook citing the island’s continued economic recovery and fiscal consolidation as well...
Kedipes ‘stalling’ probe into loans held by PEPs (update)
THE state-owned asset management company (Kedipes) appears to be stonewalling a probe into the possibility of the co-op bank affording favourable treatment to politically exposed...
First steps taken in Estia debt relief scheme
The first steps have been taken to roll out the Estia debt relief scheme, although applications for the programme will not start until early September....
Edek proposes freezing all foreclosures
SOCIALIST Edek plans to table a legislative proposal freezing all repossessions by banks, ostensibly to protect vulnerable homeowners, despite assurances from the banking sector that...
Public’s trust in institutions being eroded, president says (Update 3)
The public’s trust in institutions is being eroded, President Nicos Anastasiades said on Thursday evening when asked to comment on media reveals that two veteran...
The message for BoC’s ‘Helixed’ customers
By Demetris Theodorou A LATE-NIGHT announcement by Bank of Cyprus last Tuesday threw a good deal of light on the goings on in the bank’s...
Bank of Cyprus offloads more non-performing loans
Bank of Cyprus has recently sold non-performing exposures worth €33.7m to distressed debt manager APS, which is also handling Hellenic Bank’s portfolio of bad debts....