Loans

The Greek banking system is clearly in a much better position now to absorb any turbulence from international markets than it was four years ago, Finance Minister Christos Staikouras said on Thursday, commenting on global banking system tensions caused by the collapse of Silicon Valley Bank and the crisis at Credit Suisse.

Cyprus' Finance Ministry is considering possible actions to tackle nonperforming loans and is examining a set of measures aiming to address the issue, Finance Minister Makis Keravnos said in a statement on Friday, calling on banks and servicers to refrain from foreclosures on primary residences held by vulnerable borrowers.

A draft law on encroached state properties will reach Parliament next month, aimed at allowing current occupiers (who exceed 70,000) to acquire the property legally at a discount of up to 80% of its taxable value.

You're probably well aware of the impact your credit score can has on your financial life. A good credit score can mean lower interest rates and better terms on loans, while a bad credit score can make it hard to get approved for financing at all.

But what you may not know is that personal loans can be a great way to improve your credit score. Here's how.

Nonperforming loans (NPLs) in Cyprus at the end of October 2022 amounted to 2.69 billion euros, showing a decrease of €32 million compared to the previous month.

An unpredictable year has begun for the real estate market, as countervailing forces from the supply and demand side collide.

The government is working on a new plan to help people buy existing homes, Environment and Climate Change Murat Kurum has announced.

Kurum recalled that the "My New Home Program" announced last week is designed to provide cheaper loans to middle-income groups but the new project will provide opportunities for people to buy existing houses.

The platform for the subsidy of vulnerable households by banks is expected to open in mid-February, covering half of the additional burden resulting from interest rate hikes.

Total new loans in Cyprus increased by 172.8 million euros in November compared to the previous month, despite an increase in interest rates across all loan categories.

Mortgages with lower rates and longer maturities will be offered to middle income Turks looking to buy new housing, Turkish Finance Minister Nureddin Nebati said on Wednesday.

Nebati told a news conference the mortgage loans with amount up to 5 million lira ($266,823), will have up to 15 years maturity and rates will start from 0.69%.