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Legal Matters

Expect many foreclosure notices today

Yesterday, Tuesday, January 31, 2023, marked the end of the most recent three-month suspension of divestments imposed by a...
Legal Matters

Mortgage-to-rent scheme in trouble

The Mortgage-to-Rent scheme, the government's latest lifeline for distressed borrowers, is in rough seas after the Finance Ministry claimed...
Investment

Annus Horribilis for Cyprus banks

Over the last three years, Cyprus banks had struggled to deal with their past and unload non-performing loans from...
Non-Performing Loans

Unpaid housing loans cause concern

The finance ministry has expressed alarm and dissatisfaction at the high amount of money owed to public-law organisations that...
Latest News & Updates

Mortgage to rent scheme moving forward

The mortgage to rent scheme for distressed borrowers is moving forward as state-owned asset management agency KEPIDES, the finance...
Articles

Credit acquiring companies and ‘bad’ practices

The latest Financial Stability Report published by the Central Bank of Cyprus (CBC) states "Credit Acquiring Companies (CACs) must...
Legal Matters

New lifeline for defaulted borrowers

Cyprus is to throw another lifeline to distressed borrowers to help them keep their homes following its ESTIA scheme...
Legal Matters

Government plans mortgage-to-rent scheme

The government will formally seek approval from the European Commission later this year to transform the successor entity to...
Property Prices

Demand & most property prices increasing

Prices for most types of property in Cyprus are increasing according to the latest edition of the RICS Cyprus...
Property Prices

Alpha Bank secures deal to sell NPLs

Earlier today, Alpha Bank said that it has reached an agreement to sell a portfolio of Cypriot non-performing loans...
Investment

NPLs accounted for 17.4% of total loans in July

The Cyprus Central Bank (CCB) reports that non-performing loans (NPLs) accounted for 17.4% of total bank loans at the...
Investment

Banking sector challenges lie ahead

The banking sector faces multiple challenges ranging from the large percentage of non-performing loans (NPLs) to climate change; despite...
Non-Performing Loans

NPLs remain at 18 per cent of total bank loans

Statistics published by the Cyprus Central Bank reveal that non-performing loans (NPLs) in May 2021 accounted for 18.07% of...
Non-Performing Loans

KEPIDES starts bad bank transformation

After some delay, Cyprus has started the process of transforming the Cyprus Asset Management Company (KEDIPES) into a national...
Latest News & Updates

ECB cautions over changing foreclosure law

ECB supervisory board member Elizabeth McCaul advises caution over possible amendments to the Cyprus foreclosure law as they could...
Latest News & Updates

NPLs fell by €3.86 billion in 2020

Non-performing loans (NPLs) in the Cyprus banking system dropped to €5.11 billion at the end of 2020; a fall...
Non-Performing Loans

700 borrowers unviable for Estia relief scheme

A total of 700 borrowers with non-performing loans (NPLs) amounting to about €173 million were deemed non-viable for loan...
Non-Performing Loans

Managing toxic loans outside the banking system

Terms like "non-performing loans", "foreclosures", "loan sales" entered our lives in the last decade as a result of the...
Latest News & Updates

Cyprus to expand mortgage relief scheme

Cyprus is looking into ways of expanding a relief scheme subsidising borrowers with toxic mortgages to cover borrowers who...
Latest News & Updates

Small drop in non-performing loans

Cyprus' non-performing loans (NPLs) recorded a small decrease by €13.5 million, totalling €6.52 billion at the end of August,...
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