Banking and Finance

The profitability of the Cypriot banking sector surged in the first half of 2024, with after-tax profits rising to €602.92 million, compared to €345.64 million at the end of March 2024. According to the ...

Non-performing exposures (NPEs) within the Cypriot banking sector dropped to €1.70 billion at the end of June, down from €1.80 billion in March, according to the Central Bank of Cyprus (CBC). According ...

Eurobank Cyprus on Thursday announced the appointment of Andreas Petsas as its new Chief Executive Officer (CEO), following a decision by the bank’s board of directors. According to the ...

Hellenic Bank provided an update on the bank’s achievements and developments since early 2024 during its annual general meeting on Wednesday. In a statement, the bank said that the meeting “...

The necessary conditions for the listing of Bank of Cyprus shares on the Athens Stock Exchange have been met, according to an announcement from the relevant listing and market operations ...

Eurobank and the Indian Chamber of Commerce (ICC) this week signed a Memorandum of Understanding (MoU) at the Indian Embassy in Athens. The agreement, signed on September 16, aims to establish ...

The Cyprus Borrowers Association (Syprodat) and Central Bank of Cyprus (CBC) governor Christodoulos Patsalides on Tuesday discussed the need for sustainable loan restructurings, as well as the issue of lending ...

A delegation from the Association of Cyprus Banks is currently in the United States, visiting Washington DC and New York, to highlight the progress of the Cypriot banking sector in ...

Eurobank’s recent acquisition of a majority stake in Hellenic Bank, Cyprus is set to enhance its credit profile and geographic diversification, according to a statement by credit rating agency ...

Fitch Ratings on Monday upgraded the Shareholder Support Rating (SSR) of Hellenic Bank Public Company Limited (Hellenic Bank) to “bb” from “bb-“. According to the agency, this follows the recent ...

Cyprus’ competition watchdog has ruled that competition in the country’s banking market remains healthy, approving Eurobank’s acquisition of a 26.1 per cent stake in Hellenic Bank. With the transaction, ...

UBS Asset Management has been selling corporate bonds in its global portfolios during market rallies, a senior fund manager said, citing concerns that a slowing economy or the looming US ...

The Bank of Cyprus on Friday announced an immediate reduction in its reference rate for loans linked to the European Central Bank’s (ECB) base interest rate. According to the ...

Bank of Cyprus shareholders on Friday approved the listing of the bank’s ordinary shares on the Athens Stock Exchange (ATHEX), pending a delisting from the London Stock Exchange (LSE). ...

Eurobank Cyprus on Thursday announced that it explored the deepening of business relations with India through its participation in the India Mediterranean Business Conclave. The forum, which was held by ...

The European Central Bank is almost certain to cut interest rates again on Thursday, but with inflation risks simmering despite anaemic growth, investors will be combing its message for clues ...

Hellenic Bank successfully completed a €100 million Senior Preferred bond issuance under its €1.5 billion Euro Medium-Term Note (EMTN) programme, according to an announcement released on Wednesday by the bank. The bond ...

The Central Bank of Cyprus (CBC) this week released detailed interest rate data for deposits and loans from individual credit institutions. This marks the first instance of this report being ...

The Bank of Cyprus on Tuesday announced that it has begun informing 20,000 eligible borrowers about its latest loyalty reward scheme. According to the announcement, the Bank of Cyprus’ new Pronomia ...

The value of bounced cheques recorded in Cyprus reached €57,129 in August 2024, according to a report released this week by the Central Bank of Cyprus (CBC). This figure comes from a ...

Here are the top business stories in Cyprus from the week starting September 2: On the topic of international cooperation, Saudi Arabian Transport Minister, Saleh Bin Nasser Al-Jasser, visited DP World ...

The Cyprus Securities and Exchange Commission (CySEC) on Friday announced the launch of a new social media campaign, urging investors to exercise caution when engaging in online investment activities. According ...

The Central Bank of Cyprus (CBC) has reported a rise in interest rates on consumer loans, which increased to 6.67 per cent in July, up from 6.18 per cent in the previous ...

The Bank of Cyprus completed approximately 41 per cent of its maximum share buyback programme value by the end of August, according to an announcement by the bank. The announcement noted ...