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29th March 2024
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Cyprus banks awash with properties

Banks in Cyprus have acquired more than 14,000 properties from households and businesses through foreclosures and debt-to-assets swaps according to a report in the Phileleftheros.

Bank lending systems stymie Cypriot buyers

The Cyprus banks complicated lending procedures cause stagnation of property purchases by Cypriots according to the chairman of the Cyprus Real Estate Agents Association (SKEK).

How can Cyprus banks justify their action?

Cyprus banks are blocking trapped property buyers getting Title Deeds, while in Spain the Supreme Court has ruled that the banks must refund money to purchasers whose homes were never completed.

ECB argues ‘bad banks’ could reduce NPLs

The European Central Bank made the case on Tuesday for having state-backed 'bad banks' buy part of the 1 trillion euros of non-performing loans (NPLs) that are curbing lending and economic growth in parts of the euro zone.

Nicosia protest against foreclosures

A protest outside the presidential palace in Nicosia against foreclosures of primary residences and business premises passed without incident on Thursday with the demonstrators dispersing by around 6pm.

MPs warn banks over Swiss franc loans

MPs in Cyprus have warned the banks that they might pass punitive legislation if they fail to offer households with Swiss franc loans better terms; many borrowers claim they were misled to the real risk involved.

Banks playing a dirty game

A number of banks have obtained temporary court orders preventing people who bought property in Cyprus from receiving Title Deeds under the provisions of 'trapped buyers' law claiming they knew nothing about the sale.

Banks highly exposed to construction sector

The Cyprus Central Bank reports that banks are highly exposed to the construction sector in its "Household and Non-Financial Corporations Indebtedness Report" published earlier this week.

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