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

The coronavirus has killed 2.1 million people in the world, almost half in the Americas

The deaths in the Covid-19 pandemic around the world have risen this Sunday to 2.1 million, 15,800 of them registered in the last day,...

Germany expects EU approval for AstraZeneca COVID-19 vaccine on Friday

The European Medicines Agency (EMA) is expected to approve the COVID-19 vaccine developed by AstraZeneca and Oxford University on Friday, a spokesman of German's...

SMS: For the first time, physical exercise first

The number of the sms movement requests sent on Sunday to 8998 in Cyprus were significantly higher than the requests sent on Saturday and...

1,100 appointments for over 90 booked so far

As of this morning, the Vaccination Portal is available for citizens over 90 years of age. According to the Health Ministry, until 1:00, some 1,100...

Hooded persons throw stones against firemen and policemen

Around 18:00 on Sunday the Police received information about a fire in the yard of a school in Lakatamia. Members of the Police 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...