Banking and Finance

Non-performing loans at the end of February 2022 fell to 11.3 per cent of total loans, according to data released by the Central Bank on Monday. This represents a 0.4 per cent month-on-month ...

Cryptocurrencies are a potential risk to consumers and the economy due to their high volatility, Cyprus Central Bank (CBC) senior director of banking operations division Christos Phanopoulos said on Sunday. ...

Lawmakers said on Monday they hoped for swift passage of a bill that would fast-track the return of at least part of the moneys legacy Laiki’s depositors lost in ...

Finance Minister Constantinos Petrides on Thursday evening said that Cyprus should maximise its comparative advantages in order to turn the investment funds sector into a means of attracting investments from ...

There was a net increase in both total deposits and total loans in April, when compared to March, according to a report published on Friday by the Central Bank of ...

Cyprus’ Central Bank (CBC) governor, Constantinos Herodotou on Friday projected that an expected rise in interest rates by the European Central Bank (ECB) would be manageable. Herodotou’s comments came ...

Russia is on the cusp of a unique kind of debt crisis which investors say would be a first time a major emerging market economy is pushed into a bond ...

Hong Kong’s central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back ...

Russia’s central bank lowered its key interest rate to 11 per cent on Friday and said it saw room for more cuts this year, as inflation slows from more than 20...

Cyprus-licensed bank AstroBank on Wednesday announced that it recorded an after-tax profit of €3.3 million in 2021, a notable improvement on the €18 million loss it sustained in 2020. Moreover, the bank recorded a ...

Hellenic Bank on Wednesday described the decision by the bank employees’ union Etyk to stage a 24-hour warning strike on May 31 as “sad and disappointing”. The Etyk executive council announced ...

Lebanese banks are planning to close their branches in Cyprus, following a decision by the Lebanon Central Bank, according to a report by the Cyprus News Agency (CNA) released on ...

Cyprus continues to experience excessive macroeconomic imbalances, the European Commission said on Monday during the presentation of its 2022 European Semester Spring Package. “Overall, vulnerabilities are receding and are falling below ...

The 10-minute home loan – at the tap of a smartphone screen – is emerging as the next frontier in Australian banking as rising interest rates quash a pandemic-fuelled property boom, eating ...

Israel Discount Bank (DSCT.TA) reported a higher-than-expected rise in quarterly profit that was boosted by higher financing income and a one-time gain. Discount, Israel’s fourth-largest bank by assets, ...

The Bank of Cyprus plans to reduce the number of its branches by 25 per cent and workforce by 15 per cent this year. In numbers, this means 500 jobs will go and ...

The magnitude of the impact on the Cyprus economy from the war in Ukraine will depend on the duration of hostilities, and sanctions against Russia, Central Bank of Cyprus (CBC) ...

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it ...

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos on Tuesday afternoon engaged with the local fintech community, during an event on digital assets, entrepreneurship and financial technology. The ...

The positive year-over-year growth rate of the Cyprus Composite Leading Economic Index continues to slow down in April 2022. The index recorded a year-over-year increase of 2.4 per cent in April 2022, reaching ...

The Russian rouble weakened against the dollar on Wednesday but steadied not far from a five-year high against the euro, after losing the support of some capital controls and as ...

An affiliate of the company behind collapsed stablecoin TerraUSD on Monday said it had spent the bulk of its reserves trying to defend its dollar peg last week and would ...

The government and banks issue deceptive statements and statistics and the media blindly report them without question By Les Manison According to Reporters Without Borders, Cyprus ranks 69th on the “...

By Charalambos Sergiou, Alexandros Vacanas and Nikolas Stratis Blockchain technology is based on the establishment of a decentralised network of trust between unknown participants, facilitating peer-to-peer transactions in a cost-efficient ...