Banking and Finance

Non-performing loans (NPLs) remained virtually unchanged in November, reaching € 4.24 billion from € 4.26 billion the previous month, according to a report by the Central Bank of Cyprus released on Friday. In contrast, ...

By Maria Demertzis In the 2020 revision of monetary policy strategy, the US Federal Reserve adjusted the pursuit of an inflation rate at 2 per cent, to inflation that ‘averages 2 per cent ...

French Finance Minister Bruno Le Maire said on Friday the option of cutting off Russia from the SWIFT global interbank payments system remained open, but that he viewed this only ...

Russia has spent the past seven years building up formidable financial defences, yet in the long run, its economy is unlikely to withstand the onslaught of coordinated sanctions from the ...

RCB Bank announces a change in its shareholding structure. On February 24 2022, a 46.29 per cent stake in the share capital of RCB Bank held by VTB Bank (PJSC) was acquired by ...

Russian state-owned VTB Bank (PJSC) has transferred all its shares in RCB Bank to Cypriot shareholders, making RCB a 100 per cent Cypriot-owned bank. VTB transferred to the Cypriot shareholders the 46.29 ...

Europe’s financial sector scrambled on Thursday after Russia invaded Ukraine, with Allianz (ALVG.DE)disclosing it had frozen its Russian government bond exposure and top British domestic lender Lloyds ...

The European Union is unlikely at this stage to take steps to cut Russia off from the SWIFT global interbank payments system as it works on a new package of ...

Oil prices broke above $100 a barrel for the first time since 2014, stock markets slumped and the rouble hit a record low on Thursday after Russian President Vladimir Putin launched an ...

The Russian rouble tumbled to a record low on Thursday, the euro sank to a multi-year low to the Swiss franc, and the yen jumped after Russian forces attacked Ukraine, ...

UK’s main stock indexes plunged on Thursday, tracking a sharp drop in global equities as investors shed riskier assets, after Russian forces launched an invasion of Ukraine. The benchmark ...

The achievement a year early of the target to bring the NPL ratio down to single digits, combined with the return to profitability, allows the Bank of Cyprus to move ...

The United States, the European Union and Britain announced new sanctions on Russia on Tuesday after Moscow’s recognition of two separatist regions in Ukraine as independent entities. Chief among ...

With more and more of our transactions now taking place online, the issues of cybercrime and identity theft prevention have become increasingly hot potatoes in financial circles. New legislation – at ...

European banks on Tuesday were bracing for fallout and fresh sanctions after Russia ordered troops into breakaway regions of eastern Ukraine, with HSBC warning of market contagion and Austria’s ...

The rouble tanked on Monday, slipping past 80 against the dollar, while stocks plunged to their lowest in over a year as Russian President Vladimir Putin called for the immediate recognition ...

HSBC (HSBA.L) aims to cut emissions associated with loans made to its oil and gas clients by 34 per cent this decade, the bank’s sustainability chief told Reuters, marking ...

Global stocks tumbled while safe-havens rallied and oil surged on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into ...

The Bank of Cyprus posted an after-tax profit of €30 million and a profit after tax and before non-recurring items of €91 million in its financial results released on Monday. “2021 saw a ...

The digital transformation of the Housing Finance Corporation, including to its internet banking services, is underway and scheduled to be completed by 2023, acting general manager Vassiliki Vassiliou said on Sunday. ...

President Joe Biden’s administration has prepared an initial package of sanctions against Russia that includes barring US financial institutions from processing transactions for major Russian banks, three people familiar ...

For more than a decade, Lebanon’s central bank charged commercial banks in the country commissions when they bought government securities without making clear that the bulk of those commissions ...

The euro rallied and the dollar retreated on Monday as investors pulled capital away from safe havens after US President Joe Biden and Russian President Vladimir Putin agreed in principle ...

Revenues from tourism amounted to €1.46 billion in the period between January and November of 2021, a report by the Cyprus Statistical Service (Cystat) released on Friday revealed. The revenue reported reflects ...