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All reports tagged with: "bank of Cyprus"

Millions owed by big names

A committee of inquiry has heard how unsecured loans were granted to some big names in the property development sector following pressure from high ranking executives in the Bank of Cyprus.

Developers are the problem says bank chairman

The Bank of Cyprus is on a frontal attack with the big property developers, as its separation into a commercial and real estate bank aims to secure billions that were injected to the real estate sector.

How we could deal with the transfer of BoC assets

Depending on decisions taken for the future of the Bank of Cyprus, all collateral for problematic loans that have been granted in recent years will be transferred to the new entity, which will sell or rent the assets to repay the loan.

Real estate bank a possibility

One of the options being considered for the future of the Bank of Cyprus is the establishment of an asset management company to take over problematic real estate loans and undertake their sale or rent to repay loans.

How long is the long-run?

How can the government carry out the necessary reforms if its coalition is weak and its main supporters are those who are most heavily indebted in a country that went bust because of too much debt?

Loans of one billion euros to bank board members

Confidential data from the Central Bank reveals that the Bank of Cyprus and the Cyprus Popular advanced credit facilities of more than one billion euros to their board members in 2011.

Bank seeks bankruptcy for Paradise Hills developer

A bankruptcy order has been issued against a Brit believed to be a director of MDB Properties Limited, the company that constructed the unfinished Paradise Hills development in Marathounda.

Chinese investor sues state over haircut

A victim of the Bank of Cyprus haircut, a Chinese investor who transferred 15 million Euro to Cyprus has sued the state according to a report in the current edition of the Cyprus Weekly.

Central Bank press release on banking measures

A press release issued by the Central Bank of Cyprus clarifies the measures implemented at the Bank of Cyprus and Laiki Bank following the agreement reached between the Cyprus Government and the Eurogroup

Big depositors in Cyprus to lose far more than feared

Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

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