Appeals Committee
In accordance with the provisions of the Arrears Management Directive of 2015, Eurobank Cyprus Ltd (the “Bank”) has established an Appeals Committee (the “Committee”) to handle all the appeals of eligible borrowers regarding the restructuring of credit facilities.
Eligible Borrowers
a) Natural persons with total balances of credit facilities of up to €1.000.000, including guarantors of the borrower as well as physical persons who provided securities in favour of the Bank.
b) Micro and small enterprises (as defined in the European Commission Recommendation-2003/361/EC) with total balances of credit facilities up to €1.000.000.
The following persons do not fall within the category of eligible borrowers: (i) persons for which an application for liquidation was filed by another creditor, (ii) persons for which a receiver or administrator was appointed by another creditor, and (iii) persons for which a dissolution court order was issued.
The Committee consists of five members and is independent of the credit granting functions, credit approval, credit control and risk management functions, and deals with all appeals regarding restructurings in an effective, efficient, timely and impartial manner.
Submitting an Appeal
The appeal, together with all supporting documentation (including, but not limited to correspondence with the Bank, legal documents, financial statements, information provided to the Bank during the examination of potential restructuring and any other relevant information) must be in writing and in the format presented on the Bank’s website (www.eurobank.com.cy) and must be signed by the borrower or his/her/its authorized signatories. Verbal and/or anonymous appeals will not be examined.
The above must:
i) Be sent by registered post to the following address:
Eurobank Cyprus Ltd
Appeals Committee
P.O. Box 27236, 1643 Nicosia, Cyprus
or
ii) Delivered to any Banking Centre of the Bank.
To download the Complaint Submission form, click here
Contact details
All interested persons can contact the Committee as follows:
George Apostolides, Chief Compliance Officer, 71 Limassol Avenue, 1st floor, 2121 Nicosia, P.O. Box 27236, 1643 Nicosia, Cyprus
Tel.: +357 22 208167
Fax: +357 22 374199
Email: gapostolidis@eurobank.com.cy
Assessment Process
Upon receipt of the appeal the Bank will send to the sender an acknowledgement of receipt within 21 days from the date of receipt.
The Committee must complete the assessment of the appeal and issue its final decision no later than 2 months from the date of receipt of the appeal.
During the assessment of the appeal, the Committee may invite the borrower who submitted the appeal to a meeting in person and consider all the information submitted by the sender of the appeal but also any other relevant details or information. To this end, the Committee reserves the right to request, on its own initiative, any information from the relevant departments of the Bank which have handled the specific funding until the date of the assessment of the appeal. It is noted that the Committee is obliged to meet the borrower in person if he so requests.