Banking and Finance

RCB Bank on Thursday announced that it will cease operating as a bank and would become an asset management company. The bank cited the “ongoing and extremely volatile geopolitical situation” ...

Eurobank Cyprus on Wednesday announced that it posted a net profit of €52.3 million for 2021, boosting its profitability from the year before, while at the same time improving its asset quality ...

The €556 million loan portfolio sale by RCB Bank to Hellenic Bank on Tuesday served to fulfil a dual purpose – bolstering the latter bank’s portfolio with high-quality assets, while at ...

Τhe Paris Court of Appeal has dismissed an application for the annulment of an International Arbitral Award, finding in favour of the Republic of Cyprus concerning Fbme Bank. The case ...

Fitch Ratings announced that it has affirmed Cyprus’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB-‘ with a Stable Outlook. The credit ratings agency said that Cyprus’ rating is ...

Russia’s coupon payment on a sovereign bond maturing in 2029 was processed by correspondent bank JPMorgan Chase & Co (JPM.N), a source said on Monday, the second time in ...

RCB Bank on Tuesday announced that it has agreed to the sale of a performing loan portfolio to Hellenic Bank, including any related funds on the accounts belonging to the ...

Russia is due to make another dollar-denominated payment to bondholders on Monday after last week defying fears it might not be able or willing to do so, following Western countries’ ...

Hellenic Bank announced on Monday the successful completion of a conference it held during the previous week to support small-to-medium-sized enterprises (SMEs), with participants having had the opportunity to share ...

HSBC (HSBA.L) is buying a plot of virtual real estate in an online gaming space called The Sandbox for an undisclosed sum, the bank’s first major foray into ...

The Cyprus Investment Promotion Agency (Invest Cyprus) on Friday announced that its national stand had a great presence at one of the most important European real estate exhibitions, MIPIM (Marche ...

Switzerland’s secretive banks hold up to $213 billion of Russian wealth, the country’s financial industry association estimates, as sanctions on Russia give a rare glimpse inside Swiss vaults. The ...

Coupon payments on Russian sovereign bonds due this week were received by correspondent bank JPMorgan (JPM.N), processed and the bank then made an onwards credit to the paying agent ...

The island’s largest lender said Thursday it has no banking operations in either Russia or Ukraine, having wound down its business there years ago. In a statement released through ...

The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and projected its policy rate would hit a range between 1.75% and 2% by year’s end ...

Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions ...

The economic cost of Russia’s assault on Ukraine was fully exposed on Wednesday as Vladimir Putin’s sanctions-ravaged government teetered on the brink of its first international debt default ...

International magazine Global Banking & Finance Review on Tuesday named the Bank of Cyprus’ asset management division (BOCAM) as the best asset management company in Cyprus. The award was given ...

Hellenic Bank on Tuesday announced that it has negligible direct exposure to Russia, while its indirect exposure through any adverse effects on the Cypriot economy hinges on a number of ...

Turkey’s central bank is expected to hold its policy rate at 14 per cent this week, a unanimous Reuters poll showed on Monday, despite the Ukraine conflict and soaring energy ...

JPMorgan Chase & Co (JPM.N) will resume hiring unvaccinated individuals from April 4, the bank said in an internal memo seen by Reuters on Monday, as it looks to ease ...

Russia’s finance ministry said on Monday it had approved a temporary procedure for repaying foreign currency debt, but warned that payments would be made in roubles if sanctions prevent ...

Brazil’s central bank announced tougher rules for fintechs on Friday, saying that payment institutions will be subject to regulations based on their size and complexity and raising standards for ...

Deutsche Bank (DBKGn.DE) said it was not withdrawing completely from Russia, drawing anger from investors and contrasting with Wall Street banks which are severing ties with the country over ...