Representatives of depositors and securities holders affected by the 2013 bank bail-in have secured a meeting at the Presidential Palace on Wednesday at 5pm.
The meeting follows their strong reaction to the government’s decision not to introduce a new compensation scheme in 2026.
Former Bank of Cyprus shareholders not invited
The Laiki Bank Depositors Association (SYKALA) and the Laiki Bank Securities Holders Association (SYKATA) have been invited to attend.
However, Politis understands that the Association of Former Bank of Cyprus Shareholders has not received an invitation.
Government postpones new compensation scheme
At a recent meeting of the National Solidarity Fund’s management committee, the three associations were informed that the government would not introduce a new scheme for 2026.
The decision was attributed to fiscal pressures and the pending outcome of two legal opinions. These concern whether legal entities and former Bank of Cyprus shareholders are eligible for compensation.
Following the announcement, the associations expressed strong disappointment and requested a meeting with President Nikos Christodoulides.
Payments reach €70 million
Disbursements to affected depositors and securities holders have so far reached €70 million. The remaining €30 million allocated under the 2025 scheme is expected to be distributed by the end of the year.
SYKALA and SYKATA supported Christodoulides during his presidential election campaign, while the Association of Former Bank of Cyprus Shareholders maintained a neutral position.
