Banking and Finance

Central Bank of Cyprus governor Constantinos Herodotou said on Monday that he is seeking ways to expedite banks’ client digital onboarding and reviewing processes, with Cypriot banks participating in this ...

NatWest has been fined 265 million pounds ($350.9 million) for failing to prevent the laundering of nearly 400 million pounds, in the first criminal money laundering case against a British bank. A gang ...

A Paris appeals court on Monday slashed the penalty UBS (UBSG.S) must pay for allegedly helping wealthy clients in France evade taxes to 1.8 billion euros ($2.03 billion), but upheld that ...

President Tayyip Erdogan is expected to hold talks with the central bank governor, finance minister and heads of state banks on Monday, sources told Reuters, as the lira plummeted to ...

Bitcoin rose on Sunday to reclaim levels above $50,000. The world’s biggest and best-known cryptocurrency gained 2.11 per cent to $50,445.34 at 1803 GMT on Sunday, adding $1,044.80 to its previous close. Bitcoin is ...

RCB Bank CEO Kirill Zimarin earlier this week presented the bank’s new Nicosia Banking Centre, in conjunction with his thoughts on the banking sector, explaining that the relationship between ...

By Maria Demertzis The discovery of the latest Omicron variant of COVID-19 sent stock markets into a freefall on Black Friday. However, markets recovered on Monday and have since shrugged ...

The Turkish lira edged to near record lows on Friday as concerns about President Tayyip Erdogan’s low interest rate policy were fueled by a central bank survey showing one ...

Israel on Thursday led a 10-country simulation of a major cyberattack on the global financial system in an attempt to increase cooperation that could help to minimise any potential damage ...

Banks need to rethink their business model to be able to better compete with financial technology (fintech) companies, Central Bank of Cyprus governor Constantinos Herodotou said at the Banking Forum ...

The future sustainability of the banking sector in Cyprus hinges on cutting costs for banks, including through the closure of branches and the downsizing of staff numbers, Hellenic Bank CEO ...

Visa Inc (V.N), the world’s largest payment processor, on Wednesday launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of ...

The Turkish lira briefly slid 1 per cent on Monday, again nearing record lows touched last week as concerns persisted over President Tayyip Erdogan’s rate-cutting drive and Qatar said it ...

Loan restructuring jumped 400 per cent year-on-year in the first half of 2021, after the expiration of an installment moratorium due to Covid, Central Bank Governor Constantinos Herodotou said on Monday. Herodotou ...

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

Sterling edged lower on Friday as the potential for earlier Federal Reserve interest rate hikes strengthened the dollar overnight, although pandemic uncertainties continued to weigh on the broader forex market. ...

Turkey’s annual inflation jumped more than expected to a three-year high of 21.31 per cent in November, data showed on Friday, further exposing the risks of recent aggressive rate cuts ...

Britain’s markets watchdog said it will introduce new rules on Friday to boost London’s role as a global centre for listing companies to help catch up with New ...

EU antitrust regulators on Thursday fined Barclays (BARC.L), Credit Suisse (CSGN.S), HSBC (HSBA.L) and NatWest (NWG.L) 344 million euros ($390 million) for rigging the foreign exchange spot trading ...

Turkish President Tayyip Erdogan appointed a strong supporter of his low interest rate drive as minister of treasury and finance on Thursday, replacing the last top official seen to favour ...

The Bank of Cyprus has posted an after-tax profit of €19 million for the third quarter of 2021, with after-tax profit reaching €20 million for the first nine months of the year, it ...

Hellenic Bank said Tuesday it has posted an after-tax profit of €21 million for the first nine months of 2021, as net interest income rose to €192.8 million. Non-interest income was €74.2 million. “Despite ...

Turkey’s lira dipped to 13 to the dollar on Tuesday, resuming a slide towards last week’s record low as strong economic growth data failed to alleviate concerns about a ...