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151. 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...

152. Foreclosure legislation unconstitutional

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

153. 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...

154. 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...

155. 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...

156. 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. ...

157. Central Banker mulls bridging framework on foreclosures

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

158. Foreclosures: Parliament rejects President's referral

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

159. 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.'' ...

160. 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....

161. Bank culture should change Central Bank Governor says

162. 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...

163. 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...

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

165. 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...

166. EU Commission approves ESTIA scheme

167. 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...

168. Hellenic Bank’s Economic Review

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

170. Economic growth in Cyprus remains strong

171. Fitch Ratings upgrades Cyprus to investment grade

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

173. Fitch Ratings upgrades Bank of Cyprus

174. 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....

175. Moody’s thumbs up to Bank of Cyprus bad loans sale

Moody’s credit rating agency says the recent sale of Non-Performing Loans by the Bank of Cyprus worth €2.8 billion is a positive step...

176. Bank of Cyprus gets rid of small business bad loans

The Bank of Cyprus says it has sold a portfolio of non-performing loans worth €2.8 billion to Apollo Global Management, a transaction that will reduce its stock of NPLs to €5.2 billion...

177. Search continues as wildfires death toll climbs to 80

Rescue crews Wednesday continued to search the seaside areas northeast of Athens that were the worst affected by wildfires to locate any further victims, as the official death toll rose to 80...

178. Cabinet okays homeowner plan ahead of crucial House session

The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non-performing loans in the Cypriot banking sector, but time is running out as a crucial legislation package on bad loans is also up for a vote on Friday...

179. House prepares to define good and bad borrowers

The distinction between responsible and irresponsible borrowers is at the forefront of heated debate this week, with Presidential Palace and Parliament scrambling to strike balance ahead of a crucial vote...

180. Government welcomes Diko support on bad loans

The Cyprus government says it can work with opposition centrist party Diko to pass much needed comprehensive legislation on bad loans that would also pave the way for a co-op deal to go forward...