Former Laiki Bank depositors to receive further compensation in 2026
Former Laiki Bank depositors who lost savings during the 2013 financial crisis have been promised additional compensation in 2026, according to the Laiki Bank Depositors Association (Sykala). President Nikos Christodoulides informed the association of the planned payout, though specific amounts will be determined following further discussions.
This announcement follows efforts to maintain compensation at levels similar to the 2025 scheme, which saw around €100 million distributed, amounting to 10% of verified net losses capped at €100,000 per beneficiary. The association reacted strongly after the National Solidarity Fund committee initially announced no disbursement for 2026.
The compensation scheme covers approximately 13,000 beneficiaries, including former depositors and bondholders of Laiki Bank and Bank of Cyprus, whose verified losses from the 2013 haircut total around €2 billion. The losses traced back to the Cyprus bailout, where large depositors helped recapitalize Bank of Cyprus, leading to notable haircuts and the winding down of Laiki Bank.
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