Banking and Finance

Inflation in Cyprus eased to 2.1 per cent in March, down from 2.3 per cent in February, according to the latest flash estimate from Eurostat. However, this marks a slight increase from ...

The percentage of non-performing loans (NPLs) in Cyprus decreased to 6.2 per cent by the end of December 2024, down from 6.5 per cent at the end of September. This is according to ...

The Bank of Cyprus on Wednesday provided an update on its total voting rights, share capital, and the progress of its share buyback programme. Specifically, the bank reported that 28 per ...

The Central Bank of Cyprus (CBC) has decided to maintain the countercyclical capital buffer (CCyB) at 1.5 per cent, with the measure set to take effect from January 14, 2026. In an official ...

The Industrial Production Index in Cyprus recorded a significant increase of 4.3 per cent in January 2025 compared to the same month in 2024, according to the state statistical service. This increase pushed ...

The board of directors of Hellenic Bank has decided to proceed with the merger of the bank with Eurobank Cyprus, it emerged on Friday. Hellenic Bank officially announced that the ...

Cyprus has recorded the most significant progress among European Union countries in reducing non-performing loans, according to a new report by Scope Ratings. The non-performing loan (NPL) ratio in Cyprus ...

Eurobank Cyprus on Friday announced that it secured four prestigious accolades at the Euromoney Private Banking Awards 2025, held this week in London. Specifically, the bank was recognised in the categories ...

Total deposits in Cypriot banks increased by nearly half a billion euros in February 2025, according to a report released this week by the Central Bank of Cyprus (CBC). Specifically, the ...

The Eurobank Group on Thursday released a statement reaffirming its “commitment to further expansion and its continued confidence in the Cypriot economy”. It should be noted that the group’s ...

The proposed offer of €1.55 per share from Logicom to the shareholders of Demetra Holdings is neither fair nor reasonable, according to the report of an independent expert. As a result, ...

Major banks in Cyprus and Greece significantly expanded their bond portfolios over the past year, increasing their holdings in both domestic and European bond markets. According to a report from ...

The independent expert commissioned to evaluate Eurobank’s public offer for the remaining shares of Hellenic Bank has deemed the proposed exchange of €4.843 per share as fair and reasonable. This ...

The Bank of Cyprus on Thursday announced its final financial results for 2024, confirming profits of €508 million, as previously indicated in its preliminary results. In its announcement, the bank underlined its ...

The Cyprus Borrowers Association (Syprodat) released a statement on Monday saying that despite recent interest rate cuts by the European Central Bank (ECB), many borrowers have not noticed a decrease ...

The Institute of Certified Public Accountants of Cyprus (Selk) has expressed reservations over certain provisions in a set of tax law amendments currently under review by the House finance committee. ...

Hellenic Bank has completed its latest voluntary exit scheme, with 154 employees departing the bank between February 17 and March 11. The initiative, which cost the group approximately €24.2 million, is expected to yield ...

Here are the top business stories in Cyprus from the week starting March 17: The Cyprus International Businesses Association (CIBA) has sent a letter to Finance Minister Makis Keravnos, raising a ...

Artificial Intelligence (AI) is transforming banking beyond our dreams. From automating routine tasks to enabling data-driven lending, AI is propelling the world banking industry towards increasingly greater levels of efficiency ...

CarVal Investors has further reduced its stake in the Bank of Cyprus, marking another significant divestment by the American investment fund. According to an announcement by the bank, CarVal has ...

The Central Bank of Cyprus (CBC) and the European Stability Mechanism (ESM) on Friday hosted a high-level conference with the Cypriot economy at the heart of discussions. Specifically, the conference ...

Concerns were escalated in Parliament regarding the accessibility of ATMs for elderly residents in mountainous and other remote areas, who are forced to travel between villages to withdraw cash. This ...

Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Friday highlighted the country’s economic transformation in recent years, while also outlining the challenges that lie ahead. Speaking at a ...

The Bank of Cyprus has announced a new share buyback transaction as part of its ongoing repurchase programme. According to a statement issued on Friday, the bank acquired a total ...