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Applications for loan repayment suspension exceed 23,000 in Cyprus’ two largest banks
CNA - Gregoris Savva - CYPRUS/Nicosia 07/04/2020 10:27


Applications for loan repayment suspension surpassed 23,000 in Cyprus’ two largest banks, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic.
 
The Ministry of Finance issued a decree allowing eligible borrowers, those who in end-February 2020 had no arrears exceeding 30 days to request a loan repayment suspension.
 
According to information gathered by CNA, in Bank of Cyprus, the island’s largest lender, applications by yesterday afternoon, exceeded 11,000 with the bank approving the overwhelming majority.

(CNA)

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