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121. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...

122. FinMin delves into details of 'new, more targeted measures'

Finance Minister Constantinos Petrides held a press conference on Thursday to delve into the details of the new bundle of economic support measures announced by President Nicos Anastasiades in a televised national address Wednesday night....

123. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

124. Over 23,000 applications filed for suspension of loan payments

More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....

125. Tax alert: Cyprus

126. Central warns banks ‘not to overdo it’

The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...

127. Estia scheme kicks in for eligible borrowers

The Estia plan aimed at boosting borrowers’ ability to repay their defaulted loans went into effect on Monday, as the Cypriot government embarks on a scheme to subsidize repayments of restructured loans...

128. Foreclosure legislation unconstitutional

The latest piece of legislation on foreclosures which was approved last Friday is unconstitutional...

129. Lifeline as Parliament accepts President's referral

The House of Representatives has heeded warnings voting to accept the President's referral of legislation that would have made it difficult for banks to recover mortgaged non-performing exposures...

130. Finance Committee seeks compromise on foreclosures

The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...

131. S&P affirms Bank Of Cyprus ratings

Standard & Poor’s affirmed on Tuesday their `B+/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC), noting that the outlook is stable...

132. ECB warns of 'significant negative impact'

The European Central Bank (ECB) has warned of “significant negative impact” to the Cypriot banking system in case a new law amending the legal on foreclosures is implemented. ...

133. Central Banker mulls bridging framework on foreclosures

The Central Bank will present recommendations aimed at rectifying the foreclosure framework it was announced on Thursday...

134. Foreclosures: Parliament rejects President's referral

The House of Representatives today rejected a presidential referral regarding a number of foreclosure legislation amendments. ...

135. Foreclosure legislation deemed unconstitutional

Finance Minister Haris Georgiades said on Tuesday that "a legislative framework must be effective, it must not change frequently, in order to create a trustworthy framework that will enable us to manage this last remaining problem of non-performing loans.'' ...

136. Moody's warns foreclosure laws increase risk for banks

Cyprus’ new foreclosure framework hampers banks efforts to reduce NPLs said credit rating agency Moody's in an announcement on Thursday....

137. Bank culture should change Central Bank Governor says

138. Suspected loan shark turns tables on accuser

State prosecutors are seeking guidance from the attorney general in a case where a suspected loan shark in Limassol has presented evidence of actual debt owed to him by his female accuser...

139. Baker Tilly Annual Restructuring Summit

Baker Tilly Cyprus held its first annual restructuring summit at the Hilton Park Hotel in Nicosia, drawing on the expertise of banking professionals, company directors and restructuring specialists...

140. Bank of Cyprus sells NPEs amounting to €34 million to APS Delta

141. House passes state budget for 2019

The House of Representatives Plenary on Friday approved by majority voting the 2019 state budget, that provides for a surplus amounting 3% of GDP...

142. EU Commission approves ESTIA scheme

143. Four busted in Limassol co-op bank fraud

Four people have been arrested in connection with financial irregularities at a Limassol credit union of the Cyprus Cooperative Bank...

144. Hellenic Bank’s Economic Review

145. Interview with Isfandyar Zaman Khan, lead specialist for finance and innovation at the World Bank

146. Economic growth in Cyprus remains strong

147. Fitch Ratings upgrades Cyprus to investment grade

148. IMF: The Cypriot economy continues its rapid recovery from the 2012–13 financial crisis

149. Fitch Ratings upgrades Bank of Cyprus

150. Greek banks to chase borrowers who refused to open their accounts

Banks have firmly focused their attention on debtors who have resorted to the provisions of the so-called Katseli law – named after former economy minister Louka Katseli – for protection now that their bank account secrecy has been lifted....