The online platform for depositors affected by Cyprus' 2013 bank bail-in is expected to open towards the end of September, allowing eligible beneficiaries to submit or update their information to receive compensation from the National Solidarity Fund.
The announcement was made by Finance Minister Makis Keravnos following Cabinet approval of the fund's 2026 budget.
€28.7 million allocated
According to Keravnos, the draft budget approved by the National Solidarity Fund provides for total expenditure of €28,725,209 in 2026.
The funds are intended for individuals whose applications have been approved under the compensation framework for affected depositors and securities holders.
Platform to open this month
The finance minister said the online platform would become available by the end of September.
Eligible beneficiaries who have not yet submitted the required information will be able to do so in order to qualify for payments under the approved budget.
The platform will also be available to individuals who have already received payments under a compensation scheme approved in 2025 and continuing into 2026.
Depositors expressed dissatisfaction
The announcement comes against a backdrop of criticism from groups representing bail-in victims.
Affected depositors have voiced disappointment over the level of compensation approved by the fund, arguing that the planned payout amounts to 2.5%, compared with expectations that compensation would reach 10% of losses.
SYKALA criticism
Earlier this week, the Association of Laiki Depositors (SYKALA) accused the government of failing to honour commitments made to affected depositors and holders of bank securities.
The organisation has argued that the payments fall short of expectations raised during discussions on compensation for those impacted by the banking crisis.
Eligibility process
Authorities say beneficiaries must ensure that their personal details and supporting information are properly submitted through the platform in order to benefit from the funds allocated in the 2026 budget.
Further details regarding application procedures and payment schedules are expected once the platform becomes operational.
Source: CNA
