Banking and Finance

Loan restructuring jumped 400 per cent year-on-year in the first half of 2021, after the expiration of an installment moratorium due to Covid, Central Bank Governor Constantinos Herodotou said on Monday. Herodotou ...

The Bank of Cyprus has become the first bank in Cyprus to set up a dedicated management unit for technology companies that relocate to the island. The new technology hub ...

Total new loans granted by Cyprus’ banks decreased by € 72.6 million in October 2021, compared to the previous month, mainly due to the significant reduction of new loans to non-financial corporations for ...

Sterling edged lower on Friday as the potential for earlier Federal Reserve interest rate hikes strengthened the dollar overnight, although pandemic uncertainties continued to weigh on the broader forex market. ...

Turkey’s annual inflation jumped more than expected to a three-year high of 21.31 per cent in November, data showed on Friday, further exposing the risks of recent aggressive rate cuts ...

Britain’s markets watchdog said it will introduce new rules on Friday to boost London’s role as a global centre for listing companies to help catch up with New ...

EU antitrust regulators on Thursday fined Barclays (BARC.L), Credit Suisse (CSGN.S), HSBC (HSBA.L) and NatWest (NWG.L) 344 million euros ($390 million) for rigging the foreign exchange spot trading ...

Turkish President Tayyip Erdogan appointed a strong supporter of his low interest rate drive as minister of treasury and finance on Thursday, replacing the last top official seen to favour ...

The Bank of Cyprus has posted an after-tax profit of €19 million for the third quarter of 2021, with after-tax profit reaching €20 million for the first nine months of the year, it ...

Hellenic Bank said Tuesday it has posted an after-tax profit of €21 million for the first nine months of 2021, as net interest income rose to €192.8 million. Non-interest income was €74.2 million. “Despite ...

Turkey’s lira dipped to 13 to the dollar on Tuesday, resuming a slide towards last week’s record low as strong economic growth data failed to alleviate concerns about a ...

Regulatory reporting firm Point Nine has announced a partnership with US company FIS, looking to bolster its ability to provide trade and transaction reporting services to legal entities in overseas ...

Digitisation in banking is no longer just an option, but an imperative. Keeping customers’ needs top of mind, Hellenic Bank is constantly rolling out new products and services. By consciously ...

Turkish President Tayyip Erdogan has ordered an investigation into possible currency manipulation after the lira fell sharply to record lows against the dollar this week, the Anadolu news agency reported ...

The Cyprus University of Technology (Tepak) announced on Friday that it has managed to achieve significant savings in the total amount of property rents it pays to house its schools ...

The lira’s plunge has propelled Turkey’s exporter-dominated stock market to its best month in 12 years, but for foreign investors, who have just started dipping their toes in again, ...

Economic activity started recovering from the sharp recession as of the first half of 2021, driven mainly by domestic demand, although tourism activity still remains well below the pre-pandemic level, the ...

Germany’s banks are increasingly vulnerable to an overvalued property market and finance authorities should force lenders to build up capital buffers, the Bundesbank said on Thursday in a regular ...

Visions of spiralling wage inflation in the eurozone have dominated the talking points of conservative central bankers in recent weeks as they called for a moderation in central bank stimulus. ...

El Salvador’s President Nayib Bukele took the stage last weekend at the end of “Bitcoin Week” to the cheers of fans delighted his Central American country has become the ...

Lebanon has yet to give the IMF its estimate of losses in the financial system as discussions on the issue continue, but is working hard to sign a memorandum of ...

Turkey’s lira nosedived more than 15 per cent on Tuesday after President Tayyip Erdogan defended recent rate cuts and vowed to win his “economic war of independence”, despite widespread criticism ...

Bank of Cyprus has appealed a central bank fine in the administrative court. The appeal was announced by the central bank which said that BoC was appealing the €277,000 fine imposed ...

Stock markets fell and the dollar held near a 16-month high on Tuesday as investors positioned for interest rate hikes in 2022 after Federal Reserve Chairman Jerome Powell was nominated for ...