Banking and Finance

The Cypriot banking system incurred losses after tax of €36 million, on a consolidated basis, in the first half of 2022, compared to profits of €22.54 million in the corresponding period of 2021, according ...

The Central Bank of Cyprus (CBC) announced this week that it successfully held a one-day event in which it sought to bolster financial literacy awareness among secondary education teachers. The ...

The European Central Bank’s Single Supervisory Mechanism (SSM) on Monday announced its intention to focus on credit risk provisions and, more broadly, new lending procedures, due to the deterioration ...

Hellenic Bank CEO Oliver Gatzke returned to his duties today following a recent decision by the bank’s board of directors after an investigation into allegations of statements and actions ...

The dollar climbed on Monday after data on Friday showed US producer prices had risen more than expected last month, pointing to persistent inflationary pressures and a chance the Federal ...

Microsoft (MSFT.O) is to take a 4 per cent equity stake in London Stock Exchange Group (LSEG.L) as part of a 10-year commercial deal to migrate the exchange operator’...

By Maryna Chernenko Women have become a considerable force in the financial world. According to BCG’s data, they are adding $5 trillion to the global wealth pool every year at ...

Chief Banking Officer at Hellenic Bank Phivos Stasopoulos on Friday addressed the tenth Banking Forum and Fintech Expo, touching on a number of issues, including the challenges facing the banking ...

Governor of the Central Bank of Cyprus Constantinos Herodotou this week told the Bloomberg Global Regulatory Forum 2022, which was held in London on December 6, that any recession is expected to ...

The island’s central bank governor Constantinos Herodotou on Friday stressed the need for a prudent provisioning policy for bad loans in the midst of negative macroeconomic developments. Herodotou made ...

Britain set out 30 measures to overhaul the financial sector on Friday, including a repeal of ‘burdensome’ EU rules the government says will unlock investment and maintain the City of London ...

The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50 per cent, despite the economy falling into recession, as it battles ...

Global ratings agency Fitch this week announced that it has upgraded the Bank of Cyprus’ Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘B-‘ and Viability Rating (VR) to ‘b+’ ...

Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened ...

The European Central Bank will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist ...

Bank of England rate-setter Swati Dhingra said in an interview published on Saturday that higher interest rates could lead to a deeper and longer recession, adding there were few signs ...

Banks typically trim jobs towards the end of the year, but 2022 has seen a bigger wave of redundancies and layoffs. Rising cost pressures as a result of inflation and shrinking ...

Cyprus’ general government posted a surplus of €556.4 million for the period between January and October 2022, according to the preliminary financial results published this week by the Cyprus Statistical Service (Cystat). ...

Interest rates on deposits in Cyprus have experienced a slight increase, while interest rates for housing and consumer loans have decreased, according to a report published on Friday by the ...

Wargaming Group Limited on Friday announced that on November 30 2022, it reached an agreement to sell a holding of 13.41 per cent (55,337,721 shares) in Hellenic Bank Public Company Limited (“Hellenic Bank”) to ...

NatWest (NWG.L) has offered the bulk of its 41,500 staff in Britain a pay rise and one-off cash sum to help them cope with soaring prices, after a backlash from ...

Eurobank on Thursday said that it has increased its stake in Hellenic Bank to 26 per cent, having now made an agreement for the acquisition of a 13.4 per cent share that ...

Hellenic Bank on Wednesday released its financial results for the first nine months of 2022, posting a profit of €76.4 million, compared to a profit of €21 million in the corresponding period of 2021, ...

The European Central Bank warned on Tuesday that it might make a loss as high inflation forces it to raise interest rates and foot the bill of a decade of ...