Latest Headlines

All reports tagged with: "bank of Cyprus"

Paphos marina secures funding

The consortium awarded the contract for the construction of the Paphos marina has secured a letter from the Bank of Cyprus in which it guarantees to fund the entire project according to the president of the Paphos Chamber of Commerce and Industry.

Court bans banks foreclosing

The Larnaca District Court has banned banks from foreclosing on properties used as collateral for loans for which courts gave the go ahead before the new foreclosure law came in effect last year.

Bank of Cyprus €1.1 billion asset disposal

The Bank of Cyprus’ Real Estate Management Unit (REMU) is currently managing assets valued at €1.1 billion sold properties valued at €92 million during the first half of 2016 and is presently in negotiations to sell additional assets.

Aristo settles Bank of Cyprus debt

Aristo Developers has reached an agreement with the Bank of Cyprus to repay its debts, leaving the company with approximately €443 million of assets and around €110 million of outstanding loans.

Little interest in Cyprus property auctions

The auctions by the Bank of Cyprus of ten properties valued in excess of €2.3 million got underway last week with just three of the seven plots in Paphos being sold yielding a total of €1.05 million.

Bank of Cyprus to foreclose on ten properties

The Bank of Cyprus plans to foreclose on ten properties valued in excess of €2.3 million next month – six properties in Paphos on June 23 and the remaining four properties in Nicosia the following day.

Leptos Group loans restructured

The Bank of Cyprus has announced it has restructured the loans of one its largest debtors, the Leptos Group, in an agreement that involves the extension of loan maturities and a reorganisation of the Group.

BoC sets up bad real estate asset unit

The Bank of Cyprus has established a Real Estate Management Unit that aims to acquire real estate in a voluntary asset-to-debt swap of non performing delinquent borrowers that would otherwise follow the foreclosure process.

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.

Back to top