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27th April 2024
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Hellenic Bank welcomes mortgage-to-rent scheme

"We welcome this plan as a favourable arrangement, ensuring housing for vulnerable households," Hellenic Bank interim Chief Executive Officer Antonis Rouvas said in a...

EC Report for Cyprus analyses the economic situation

The Cyprus Post-Programme Surveillance Report for Autumn 2023, which has been prepared by the European Commission's Directorate-General for Economic and Financial Affairs  analyses the...

Mortgage to rent scheme launched

The government greenlighted the mortgage-to-rent scheme, the latest lifeline for defaulted borrowers, following approval from the European Commission. Government spokesperson Konstantinos Letymbiotis on Wednesday told...

Foreclosures freeze a ‘threat to recovery’

Finance Minister Constantinos Petrides will ask President Nicos Anastasiades to return the House's decision to extend a freeze on foreclosures, arguing that Cyprus's credibility...

House extends foreclosures freeze again

When the freeze was last extended in July this year Elizabeth McCaul (a Member of the Supervisory Board of the European Central Bank) advised...

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 give out loans to people...

Fitch warns of threats to Cyprus banks’ balance sheets

Fitch rating agency reaffirmed Cypriot banks' negative outlook noting the general environment poses threats to their balance sheets. In a report on the Cyprus banks,...

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 total bank loans; unchanged from...

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