The Bank of Cyprus has reduced by up to 1% the interest rates for loans taken out by around 4,200 persons belonging to vulnerable groups of the population, Chairman of the Bank of Cyprus Group Kristis Hassapis has told CNA.

Hassapis noted that in this way the Bank of Cyprus is showing its sensitivity to these groups, the members of which are facind financial difficulties in the recession and due to unemployment.

He explained that the interest rate has been lowered for around 3,000 housing loans and 1,200 student loans, while loans of around 1,500 unemployed persons have been restructured.

Hassapis furthermore assured that the Bank of Cyprus would continue to view these groups with sensitivity.