Insider Business More than 23,000 requests to suspend loans at two largest banks

More than 23,000 requests to suspend loans at two largest banks

The Bank of Cyprus and Hellenic Bank have so far received more than 23,000 applications to benefit from the government’s nine-month loan suspension scheme in support of those affected by the Covid-19 crisis, the CNA reports.

Bank of Cyprus said that until late on Monday afternoon it had received more than 11,000 requests, of which the vast majority has been approved.

Similarly, Hellenic Bank reported yesterday afternoon having received more than 12,000 applications, of which 80% concern retail loans and 20% are from companies.

Half the retail applications concern mortgages, consumer loans and card overdrafts.

Based on the relevant decree issued by the Finance Ministry, the scheme’s beneficiaries are natural and legal entities, the self-employed and businesses who did not record delays of more than 30 days in their instalment payments as at February 29, 2020.

The loan suspension, enshrined into law, is not regarded as a non-performing loan as per SSM and EBA instructions.

In addition, banks will not compound interest for the duration of the loan repayment moratorium following relevant instructions by the CBC.

Read more:

Economy is set to lose €1b from coronavirus

Top Stories

Triple digit covid cases for a 3rd day running but going down-101 today One in 18 positive

  One hundred and oney new Covid-19 cases were announced today, out of 2 thousand 781 tests, taking the total number of confirmed patients to...

Sudan says it will discuss trade, migration deals with Israel

  Sudan and Israel will discuss agreements to cooperate on trade and migration issues in the coming weeks, the Sudanese foreign ministry said, signaling steps...

‘Macron a nutcase who’s lost his way’, Erdogan says in new insulting tirade

  Turkish President Tayyip Erdogan said Emmanuel Macron had “lost his way”, in his second sharp criticism of the French leader in two days over...

Armenian community in Cyprus holds Karabakh protest

  The Armenian community in Cyprus held an all-day protest today, condemning the Azeri attack on Nagorno Karabakh. The march went through various areas of Nicosia,...

Spain decrees new state of emergency in COVID-19 fight

  Spanish Prime Minister Pedro Sanchez announced a new state of emergency in an effort to curb soaring coronavirus infections, imposing local nighttime curfews and...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...