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29th March 2024
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Bank of Cyprus derisory Swiss Franc loan offer

The Bank of Cyprus is proposing revised settlements to borrowers alleging the mis-selling of Swiss Franc loans, but these are derisory compared to settlements negotiated with other Cypriot banks.

No apologies for foreclosures

Bank of Cyprus CEO John Hourican made no apologies for foreclosures stressing that the bank will focus on uncooperative borrowers and will not foreclose on vulnerable groups that deserve the bank's protection.

Hourican to remain at Bank of Cyprus

In April this year John Hourican, the CEO of the Bank of Cyprus, resigned his position for personal reasons; however the Bank's broad of directors have decided to extend his contract for two more years.

Aphrodite Hills sold

The Bank of Cyprus has finalised the sale of its share in the Aphrodite Hills Limited at Kouklia, in which it acquired a 75 per cent shareholding in 2014 as part of its management of large exposures.

Man hands home keys to bank

A man whose home loan repayments shot up from €350/month to €900/month handed the keys of his home to the Bank of Cyprus today accusing the bank of abusing the terms of his loan agreement.

ECJ ruling protects consumers with Swiss franc loans

Consumers who received a loan in a foreign currency from a bank are protected from exchange rate fluctuations by a ruling of the European Court of Justice according to lawyer Pavlos Angelides.

Large bank and Co-op loans probe

Loans given to former board members of the Bank of Cyprus and the now defunct Cyprus Popular Bank and other large loans are being investigated as part of the probe into the near collapse of the economy.

Bank plans property sales via website

The Bank of Cyprus will launch a website in the next couple of weeks where all the property it owns and wishes to sell will be advertised with a minimum price according to reports.

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