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121. Banks must prepare for a new cycle of NPLs due to Covid-19

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....

122. Government extends support schemes until end October

The Cabinet on Thursday decided to extend current government support programs aiming to cushion the blow of the coronavirus pandemic until the end of October, Labour Minister Zeta Emilianidou said....

123. KPMG Property Lending Barometer 2020

124. Apollo CEO investigated over Epstein ties

The CEO of Apollo Global Management, whose affiliates acquired billions of bad debt in Cyprus, is being investigated over alleged financial ties to Jeffrey Epstein...

125. 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.”...

126. 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....

127. 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....

128. Tax alert: Cyprus

129. 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...

130. Foreclosure legislation unconstitutional

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

131. 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...

132. 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...

133. 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...

134. 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. ...

135. Central Banker mulls bridging framework on foreclosures

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

136. Foreclosures: Parliament rejects President's referral

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

137. 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.'' ...

138. 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....

139. Bank culture should change Central Bank Governor says

140. 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...

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

142. 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...

143. EU Commission approves ESTIA scheme

144. 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...

145. Hellenic Bank’s Economic Review

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

147. Economic growth in Cyprus remains strong

148. Fitch Ratings upgrades Cyprus to investment grade

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

150. Fitch Ratings upgrades Bank of Cyprus