According to a statement issued by the Association of Laiki Bank Depositors (SYKALA), the president contacted the association's chairman by telephone on 9 August and confirmed that a disbursement would take place next year.
“The President of the Republic communicated by telephone on Sunday, 9 August, with the president of SYKALA and announced that there will also be a disbursement in 2026, without however specifying amounts, percentages or other details, which will be decided and announced shortly following the necessary consultations.”
SYKALA thanked Christodoulides for what it described as his constructive and bridge-building approach.
“We thank the President of the Republic for the constructive and conciliatory stance he demonstrated during our meeting and in his subsequent actions, which are continuing.”
The Association of Bank Securities Holders (SYKATA) also confirmed that it had received assurances from the president.
In a social media post, SYKATA chairman Stavros Yiallourides said Christodoulides called him on Sunday morning and informed him that a payment would be made in 2026.
According to Yiallourides, the president will also meet Finance Minister Makis Keravnos regarding the matter.
“We particularly thank the President of the Republic for listening to us, showing sensitivity and understanding our concerns and anxieties.”
Reversal after recent disappointment
The announcement comes after representatives of affected depositors and bondholders recently met Christodoulides and were assured that he would personally examine the issue in the following days.
During a recent meeting of the management committee of the National Solidarity Fund, representatives of the affected groups were informed of the government's decision not to implement a new compensation scheme in 2026.
The government had cited:
- Fiscal pressures.
- Pending legal opinions on whether legal entities should be eligible.
- Pending legal opinions on whether former Bank of Cyprus shareholders should also qualify.
Following that decision, the associations expressed strong disappointment and requested a meeting with the president.
€100 million allocated under current programme
To date, total disbursements to those affected by the haircut have reached €70 million.
A further €30 million is expected to be distributed by the end of the year under the 2025 compensation scheme, bringing the total allocation to €100 million.
The size and structure of the planned 2026 disbursement are expected to be announced after consultations are completed.
