News Local 6,000 vulnerable borrowers identified for ‘Estia’ Scheme

6,000 vulnerable borrowers identified for ‘Estia’ Scheme

Approximately 5,000 customers who are expected to benefit from the ‘Estia’ Scheme have been scanned by the Bank of Cyprus, while the Hellenic Bank has scanned around 900.

According to Fileleftheros Newspaper, the Bank of Cyprus has already started working on preparatory work that has to be carried out. It has started the evaluation of customers in order to identify which fall under the ‘Estia’ Scheme based on data currently available.

According to the Bank’s sources, a lot of work has been done; it’s finding clients that fall under the provisions announced and the next steps are being taken. The preparation work which is being carried out aims at having everything ready when the scheme is approved so that letters can be sent out to clients and so that clients can begin to be informed.

Although the scheme is expected to be implemented in 2019, the amount of work to be done by credit institutions requires time.

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