Nicosia, Cyprus. Cyprus will shortly reactivate the government platform for people seeking reimbursement for savings lost during the 2013 bank haircut, President Nikos Christodoulides said on Thursday. He said reports that no new funding is available this year were based on a misunderstanding.
Application platform to reopen
Christodoulides said depositors may have been told they missed their opportunity because they did not meet the application deadline. He said the platform will reopen so that those who missed the deadline can submit an application.
Funding and timeline
The president said payouts will be made depending on the assessment of applications. He said a specific amount has been budgeted for 2026 and that a new scheme will be rolled out in 2027.
Government commitment
Christodoulides said the measure was promised before the elections and is now being delivered.
Scheme details
Reimbursement for losses from the bank bail-in is funded through the national solidarity fund. The government refers to the measure as a partial replenishment scheme, rather than compensation.
Application process and payout limits
Applicants are notified by email to log into the service using their CY Login, formerly Ariadne, credentials to verify their impairment amounts and provide bank details for payment.
The maximum payout to an individual is capped at €100,000. Savers with legacy Laiki Bank can claim up to €100,000, while savers with Bank of Cyprus can claim up to €13,032.