Arrears Management - Appeals Process

Instructions to borrowers regarding the Appeals Process in relation to the restructuring of their facilities

Pursuant to the provisions of the CBC Directive on Arrears Management, USB Bank Plc (hereinafter “the Bank”) has established an Appeals Committee (hereinafter the “AC”), for handling complaints submitted from borrowers regarding the restructuring of their loans.

Any appeal submitted to the AC must be in writing, by completing the “Form for Submission of Appeal”, available from here. The form is also available from all Business Units/ Branches of the Bank.

The appeal form must be fully completed, signed and accompanied by all supporting documentation, and sent:

(a) by post, in a sealed envelope to:

The Appeals Committee
P.O. Box 28510
2080 Nicosia


(b) by hand, in a sealed envelope, to the relevant credit officer of the Bank who is handling the restructuring application of the borrower and responsible for his accounts.

(c) via email to:

All appeals regarding the restructuring of facilities, should be submitted within one (1) month from the date of receipt of the Bank’s letter of offer or decline. Any oral or late appeals or any appeals/complaints which are beyond the scope of duties of the Appeals Committee will not be accepted.

The Bank will officially acknowledge any appeal within twenty-one (21) calendar days from the day of the receipt of the appeal by the AC.
The official decision of the AC, on an appeal for a restructuring, will be issued and sent to the borrower within two (2) months from the date of receipt of the appeal. The AC has the right to invite the borrower who filed the appeal for a meeting while assessing his appeal, as well as the obligation to have a meeting with the borrower should he/she requests for such a meeting.
The borrowers can ask for any information or any clarifications regarding their appeals by contacting Mr Stelios Alexandrou at 22883403, or via email at

• For the ‘Form for Submission of Appeal for Restructuring’ click here.

• For the ‘Instructions to borrowers regarding the Appeals Process’ click here.