CYPRadar 🇨🇾💰 Cyprus to Reopen Application Platform for 2013 Bank ‘Haircut’ Reimbursements
President Nikos Christodoulides announced that the government platform allowing depositors to apply for reimbursements related to savings lost in the 2013 bank ‘haircut’ will soon be reactivated. The move addresses misunderstandings that no new funding was available this year, explaining that some depositors missed the initial application deadline. This reopening gives them a new chance to file claims.
Applications will be assessed for payouts in 2026, with a new reimbursement scheme expected in 2027. The fund, managed via the national solidarity fund, provides partial replenishment rather than full compensation. Eligible applicants are notified via email to verify their impairment amounts and submit their bank details for payment.
Maximum payouts are capped at €100,000 for legacy Laiki Bank depositors and bondholders, while Bank of Cyprus depositors can claim up to €13,032, and its bondholders up to €99,760. These measures stem from the 2013 bailout programme where uninsured depositors helped recapitalize Bank of Cyprus after the Greek debt crisis, with Laiki Bank ultimately wound down.
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