Mortgage defaulters to get right of appeal

The Finance Ministry is expected to table before the Cabinet a bill offering borrowers defaulting on their mortgages access to courts to challenge a foreclosure process of their home. The bill creates

Cyprus’ banking sector shrinking

The banking system shrunk further in 2022; nearly a thousand bank employees have left the sector, while banks have closed 56 branches across the island, also removing 62 ATMs from the network.

Asset freeze on 100 companies lifted

Some 100 Cypriot companies caught up in the UK and US sanctions fallout are back in business after restructuring their executive boards, removing sanctioned people for helping Russian oligarchs. The Registrar of

Scores of companies to have assets unfrozen

Cypriot authorities are working on unfreezing the assets of companies caught up in the UK and US sanctions fallout, while another list includes more Cypriot individuals that enabled sanctioned Russian oligarchs. The

Cyprus freezes €1.2 bln in Russian assets

Some €1.2 bln in Russian-owned assets managed by Cyprus-registered companies were frozen in compliance with sanctions imposed on Russia following its invasion of Ukraine, the Finance Ministry said. The ministry told The Associated Press that “the

BoC posts €95 mln Q1 net profit

Largest lender Bank of Cyprus posted after-tax profits of €95 mln for the first quarter of 2023 from €17 mln in the same period last year. The Bank announced Tuesday that net income from

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