Bank of Cyprus loan restructuring appeals.

BASED on the Central Bank of Cyprus “Directive on Arrears Management of 2013″ the Bank of Cyprus has adopted an Appeal Process mechanism and established an Appeals Committee for the impartial handling appeals received from borrowers regarding the restructuring of their credit facilities. Borrowers wishing to submit an appeal must do so in writing by filling out a Submission of Appeal on Restructuring Form (001-01-1888). The form, which should be completed in full and signed by the borrower, should be sent with all supporting documents either

: By post in a sealed envelope to the following address: PO BOX 21472 – Group Compliance Unit,


: By e-mail to This email address is being protected from spambots. You need JavaScript enabled to view it. (The form is also available in all branches of the bank.)

The Bank will provide borrowers with an official acknowledgement of their appeal, which may not be later than fifteen (15) business days from the date of receipt of the complaint, and an official decision of the Appeals Committee, which may not be more than three (3) months from the date of receipt of the appeal. If, in the period between the submission of the appeal and the receipt of the decision of the Committee, borrowers wish to be informed on the progress of their appeal, they may contact the 1Bank Call Centre/Telebank, which shall respond within twenty four (24) hours.

Central Bank Directive

The Central Bank Directive on Arrears Management of 2013 regulates the arrears management framework and establishes a code of conduct between Authorised Credit Institutions (ACIs) and borrowers. The main purpose of the Directive is to bring achievable, successful and sustainable long-term credit restructuring solutions. The Directive is in two parts: Directive on arrears management of 2013 (pdf document) Personal Financial Statement (Excel Workbook) The Personal Financial statement has to be completed and signed by the borrower and returned to the bank together with the restructuring form 001-01-1888. Nigel Nigel Howarth



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