Banking and Finance

Here are the top business stories in Cyprus from the week starting January 13: The need for enhanced collaboration between public authorities and private enterprises was emphasised during the recently held ‘...

Eurobank has finalised the sale of its 8.58 per cent stake in Demetra Holdings Plc, totalling 17,152,353 shares, to Logicom Services Limited for approximately €27 million (€1.55 per share). In a statement issued on ...

Interest rates in Cyprus continued to decline in November 2024, with home loan rates averaging 4.50 per cent, down from 4.62 per cent in October, according to the Central Bank of Cyprus (CBC). ...

Eurobank’s acquisition of Hellenic Bank is expected to conclude by the end of May, paving the way for the legal and operational merger with Eurobank Cyprus. The latest update ...

The Central Bank of Cyprus (CBC) aims to maintain stable prices and a sound financial system, according to governor Christodoulos Patsalides. Speaking at the 12th Banking Forum and Fintech Expo ...

Three proposed bills aimed at enhancing consumer and business protection against abusive clauses in bank contracts will take centre stage in February as the House plenum prepares to vote on ...

The Central Bank of Cyprus (CBC) has reported that the total post-tax profits of Cypriot banks reached €952.5 million for the first nine months of 2024, compared to €602.92 million at the end ...

The Central Bank of Cyprus (CBC) has announced an increase in the countercyclical capital buffer (CCyB) requirement for licenced credit institutions from 1 per cent to 1.5 per cent. The change, aimed ...

The total value of non-performing exposures (NPEs) in Cyprus dropped to €1.6 billion by the end of September 2024, down from €1.7 billion in June. This decrease brought the NPE ratio to 6.5 per ...

Global investment fund CarVal Investors has reduced its shareholding in the Bank of Cyprus to 5.9 per cent, according to an announcement made by the bank on the Cyprus Stock Exchange (...

The Cyprus Consumer Association this week urged individuals with consumer loans issued since July 1997 to take action against potential abusive terms in their agreements. It advised loan holders to file ...

Hellenic Bank on Monday announced the launch of a new mortgage product offering fixed interest rates. This has been rolled out alongside a new rewards programme that the bank described ...

Here are the top business stories in Cyprus from the week starting January 7: The Cypriot property market demonstrated resilience in 2024, despite facing numerous challenges that are expected to persist into 2025. ...

The value of bounced cheques in Cyprus saw a significant decline in 2024, dropping by €1.15 billion to €617,873. This compares to €1.77 million in 2023, according to figures released on Friday by the Central ...

Demetra Holdings shareholders have approved a resolution to sell the company’s shares in Hellenic Bank to Eurobank, according to an official statement released on Friday. The statement, which was ...

The Central Bank of Cyprus (CBC) announced this week that it has started to accept instant payments on behalf of itself and its clients, including certain government departments and state ...

Hellenic Bank on Thursday announced that its annual HB EmPOWERment Talks initiative successfully concluded for the second consecutive year. The bank explained that this series of talks aims to support ...

Cyprus posted a historically high surplus of €1.42 billion between January and November 2024, equivalent to 4.2 per cent of GDP, according to preliminary data from the Cyprus Statistical Service (Cystat). This marks ...

The Cyprus Investment Funds Association (CIFA) on Wednesday released a statement saying that it views 2025 “as a year of strategic growth and opportunity in the investment funds sector”. “Cyprus’ investment ...

Major central banks in December delivered their biggest policy easing push since the spring 2020 COVID rate-cutting frenzy, with the latest moves making the annual 2024 easing effort the biggest in 15 years ...

The Central Bank of Cyprus (CBC) reported on Tuesday a decline in most deposit and lending rates in November, except for loans to non-financial corporations exceeding €1 million, which recorded an ...

Cyprus’ international investment position (IIP) showed slight improvement during the third quarter of 2024, according to a report released this week by the Central Bank of Cyprus (CBC). The IIP recorded ...

The Cyprus Stock Exchange (CSE) general index outstripped global counterparts in 2024 by climbing 58.3 per cent, marking the best performance among national stock exchange indices. This surge was primarily fueled by ...

Total deposits in Cyprus amounted to €54.8 billion in November 2024, according to the Central Bank of Cyprus’ monetary and financial statistics report released this week. In addition, the central bank’s ...