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
Finance Minister Makis Keravnos’ efforts to convince banks to absorb shockwaves triggered by a hike in interest rates seem to be paying off, as banks agree to alleviate pressure on households. According
Finance Minister, Makis Keravnos, has asked the Association of Cyprus Banks and the Credit Acquiring Companies for measures to contain rising interest rates for loans up to €350,000 or borrowers will be
Business leaders are concerned over banks swiftly sending loan rates higher but not doing the same for savings. In a statement, the Cyprus Chamber of Commerce and Industry (CCCI) voiced its “extreme
Cyprus banks are willing to take up Finance Minister Makis Keravnos’ call to lower their lending rates to prevent a new toxic loan crisis, as long as the government chips in, according
Hiking interest rates are prompting Cypriot households to have second thoughts over borrowing money to buy their dream home as demand for mortgages declines rapidly, according to the Central Bank of Cyprus.
Despite pressure from local and European Union monetary authorities, Cypriot banks appear reluctant to substantially increase deposit rates, among the lowest in the bloc. Reportedly, the island’s banks are ready to increase
Governor of the Central Bank of Cyprus (CBC) Constantinos Herodotou revealed that the markets are concerned that the problem with some European banks could evolve into something bigger. But he said the
The Central Bank is concerned over a possible rise in non-performing loans following a series of increases in interest rates, as it calls on banking institutions to take pre-emptive measures. Cyprus Central
Cypriot banks are under pressure from EU authorities, as the latest data from the European Central Bank shows they offer their customers the lowest savings rates in the eurozone. Finance Ministry sources
