https://knews.kathimerini.com.cy/en/business/president-confirms-second-chance-for-2013-bail-in-compensation-claims
President Nikos Christodoulides has confirmed that the online portal for compensation claims linked to Cyprus' 2013 banking crisis will reopen, giving eligible depositors and holders of bank securities another opportunity to submit applications if they missed the original deadline....
https://knews.kathimerini.com.cy/en/news/ecb-rate-hike-to-add-€147m-to-greek-banks-as-profits-rise-from-widening-loan-deposit-gap
The European Central Bank’s latest interest rate increase, its first since 2023, is expected to boost bank profitability across the eurozone, including Cyprus, by widening the gap between what banks earn from loans and what they pay out to savers....
https://knews.kathimerini.com.cy/en/news/supreme-court-rejects-polish-investor-s-appeal-over-2013-bank-haircut-losses
Cyprus’ Supreme Court has rejected an appeal by a Polish woman who sought compensation from the Republic of Cyprus over losses she suffered during the 2013 banking crisis, bringing a long-running legal fight over deposit “haircuts” to a close....
https://knews.kathimerini.com.cy/en/news/european-banks-poised-for-€30-billion-boost-in-interest-income
European banks are poised for a financial rebound, with net interest income expected to climb by roughly €30 billion over the next two years, analysts say, as loan growth and strategic hedging offset the drag from lower interest rates....
https://knews.kathimerini.com.cy/en/comment/opinion/from-money-haircuts-to-power-haircuts
What has stayed with me most from Cyprus’ first term holding the Presidency of the EU Council, back in 2012, is the issuance of the Council Conclusions, the unanimous decisions that called for approval of the infamous EU directive on “banking resolution and recovery.” ...
https://knews.kathimerini.com.cy/en/news/cyprus-begins-€44m-payouts-to-2013-bailout-victims
More than 4,500 people who lost money in Cyprus’ 2013 banking collapse are finally seeing compensation, with €44.36 million being paid out on Thursday, officials said....
https://knews.kathimerini.com.cy/en/news/mp-s-approve-€100m-fund-to-aid-2013-bank-crisis-victims
Twelve years after the 2013 banking crisis devastated thousands of depositors and investors, Cyprus’ Parliament has approved a long-awaited budget for the National Solidarity Fund, unlocking €100 million in compensation for those hardest hit....
https://knews.kathimerini.com.cy/en/news/cash-back-coming-as-2013-crisis-victims-set-for-payouts-in-2025
A long-awaited boost is on the way for individuals hit hardest by Cyprus’ 2013 banking crisis. On June 6, the National Solidarity Fund (NSF) Committee finalized the structure of the 2025 Loss Compensation Plan, set to roll out later this summer....
https://knews.kathimerini.com.cy/en/business/the-best-bank-to-ever-come-out-of-cyprus
The management of Hellenic Bank has set an ambitious goal for the new structure that will emerge in the coming months following its consolidation with Eurobank Cyprus....
https://knews.kathimerini.com.cy/en/news/supreme-court-ruling-forces-haircut-victims-to-district-courts
The Cyprus Supreme Court has confirmed that cases related to the controversial 2013 ''haircuts'' at Bank of Cyprus and Laiki Bank must be heard by District Courts, not the Administrative Court, according to a statement from the Legal Service.
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https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-posts-€508m-profit-for-2024
Bank of Cyprus has posted impressive results for 2024, reporting net profits of €508 million, marking a 4% increase from the previous year’s €487 million. The results reflect the bank's strong performance and growth, despite slight fluctuations in some areas....
https://knews.kathimerini.com.cy/en/news/depositors-affected-by-2013-banking-crisis-to-be-compensated-in-may
Cypriots who lost their savings during the 2013 banking crisis will finally begin receiving compensation this May, according to Finance Minister Makis Keravnos. ...
https://knews.kathimerini.com.cy/en/business/laiki-bank-liquidator-raises-€90-8-million-for-depositor-compensation
According to a report by Panayiotis Rougalas in this Sunday's Kathimerini, the liquidator of the former Laiki Bank, Avgoustinos Papathomas, has achieved a key milestone in efforts to compensate creditors, particularly depositors who lost money during the bank’s 2013 collapse....
https://knews.kathimerini.com.cy/en/news/ecb-to-implement-first-interest-rate-cut
The European Central Bank (ECB) is poised to execute its much-anticipated rate cut, scheduled to take effect on Thursday, June 6, 2024....
https://knews.kathimerini.com.cy/en/news/world-bank-tribunal-backs-cyprus-2013-bank-measures
Cyprus’ Attorney-General, George Savvides said on Thursday that a decision by the International Arbitral Tribunal of the World Bank on the case Theodoros......
https://knews.kathimerini.com.cy/en/news/fighting-high-interest-rates-is-europe-s-main-challenge
The European economy faces significant challenges amidst the current geopolitical crisis, which threatens its global position. ...
https://knews.kathimerini.com.cy/en/news/mp-neofytou-proposes-11-000-immediate-payout-for-solidarity-fund-recipients
Democratic Rally MP Averof Neophytou has unveiled a groundbreaking initiative aimed at alleviating financial burdens for beneficiaries of the Solidarity Fund....
https://knews.kathimerini.com.cy/en/business/alternative-investments-and-portfolio-diversification
In contrast to traditional investments in stocks and bonds, portfolios incorporating alternative investments have historically offered higher returns, a trend that has become more prevalent in recent years. ...
https://knews.kathimerini.com.cy/en/news/finance-ministry-urges-applicants-for-2013-haircut-compensation
The Cyprus Finance Ministry is calling on all individuals and entities affected by the 2013 Cyprus bailout to submit their electronic applications for participation in the "Replenishment Scheme of the National Solidarity Fund."...
https://knews.kathimerini.com.cy/en/news/government-to-appeal-limassol-court-granting-compensation-for-laiki-bank-depositors
In a significant legal development, the Attorney General of the Republic of Cyprus is set to file an appeal against the recent decision of the Limassol District Court....
https://knews.kathimerini.com.cy/en/news/government-prepares-compensation-relief-for-clipped-depositors
In a recent press briefing at the Presidential Palace, Government Spokesman Konstantinos Letymbiotis provided crucial updates on the impending compensation for clipped depositors....
https://knews.kathimerini.com.cy/en/business/eurozone-economic-snapshot-november-13-2023
Inflation in the Eurozone, which stood at 10.6% in October 2022, has decreased to 2.9% in October 2023, sparking optimism among central bankers....
https://knews.kathimerini.com.cy/en/news/financial-tsunami-looms-as-limassol-court-decision-sends-shockwaves-through-cyprus
In a potentially precedent-setting decision, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor of the People's Bank, potentially exposing the state to financial implications of up to 2-3 billion euros....
https://knews.kathimerini.com.cy/en/news/russian-depositor-triumphs-over-laiki-bank-s-2013-haircut
The Legal Service, on behalf of the Republic of Cyprus and the Central Bank of Cyprus (CBC), will appeal the decision of the Limassol District Court, which awarded compensation to a depositor of the former Laiki Bank for the 2013 deposit haircut, according to CNA....
https://knews.kathimerini.com.cy/en/news/bank-refunds-$500-000-to-elderly-customer
From Australia comes a story of corporate responsibility in the face of personal tragedy as an elderly national bank depositor had nearly AUD$500,000 returned to him out of the bank’s own pockets.
...
https://knews.kathimerini.com.cy/en/news/court-upholds-2013-resolution-measures-for-laiki-bank
The court rejected another lawsuit related to the 2013 deposit problem....
https://knews.kathimerini.com.cy/en/news/government-cuts-interest-income-rates-from-30-to-17
The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors.
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https://knews.kathimerini.com.cy/en/news/court-dismisses-depositors-claims-in-controversial-laiki-bank-case
On August 10, 2023, the Nicosia District Court rendered a judgment dismissing a claim pertaining to the impairment of plaintiffs' deposits in the former Laiki Bank back in 2013. The plaintiffs had brought the case to challenge the constitutionality of the resolution measures implemented by the State in accordance with the "Resolution of Credit and Other Institutions Law of 2013."...
https://knews.kathimerini.com.cy/en/news/banks-announce-measures-on-interest-rates
Since July 2022, lending rates in Cyprus have risen by 3.5%, putting borrowers in a difficult position with dangerously increasing loan repayments....
https://knews.kathimerini.com.cy/en/news/keravnos-urges-banks-to-restructure-loans-and-keep-rates-low
Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...
