Banking and Finance

Bank of Cyprus and Hellenic Bank on Friday announced a new raft of measures aimed at supporting vulnerable borrowers. The developments come after meetings at the presidential palace earlier in ...

The Central Bank of Cyprus (CBC) has revised its GDP growth forecast for 2024 upwards by 0.2 percentage points, now expecting growth of 3.7 per cent. The revision is attributed to stronger domestic ...

The Central Bank of Cyprus (CBC) on Friday announced the launch of a comprehensive licensing and supervisory strategy aimed at enhancing oversight and governance of electronic money institutions and payment ...

Cyprus’ adoption of the 15 per cent minimum tax for multinationals entails both challenges and opportunities, according to Stelios Violaris, Tax Advisory Services Partner at PwC Cyprus. Violaris also highlighted the ...

The Cyprus Banking Association on Thursday confirmed that banks will announce their decisions on interest rate and fee reductions by the end of the week. Spokesman Andreas Kostouris told state ...

Thousands of people will benefit from the expected reductions in some banks charges and preferential interest rates for vulnerable groups that banks are set to announce by the end of ...

The Cyprus Stock Exchange (CSE) announced on Wednesday the introduction of a market maker framework. The new framework, the CSE explained, aims at “enhancing the liquidity of listed securities and ...

Cyprus’ financial sector is undergoing a significant transformation as digital banking technologies, fintech partnerships, and sustainability initiatives reshape operations and redefine customer experiences. According to Stella Mourouzidou Damtsa, Manager Segments &...

The Central Bank of Cyprus (CBC) on Monday released its late report on interest rates across all monetary financial institutions (MFIs) for the month of October. The report showed fluctuations ...

Hellenic Bank on Monday announced a reduction in its reference rate for loans linked to the European Central Bank’s (ECB) base rate. Effective from December 18, 2024, the rate will decrease ...

Capital Intelligence Ratings has upgraded Hellenic Bank’s foreign currency long-term rating to “BBB-” from “BB”, citing significant improvements in financial stability and capitalisation. This took place on the same ...

The threat of soaring government debt supply destabilising financial markets has intensified, according to the world’s top central banking advisory body, as it urged policymakers to act swiftly to ...

Here are the top business stories in Cyprus from the week starting December 9: The European Union’s Digital Operational Resilience Act (DORA), taking effect on January 17, 2025, will impose tougher cybersecurity ...

The proposed bill to impose a tax on banks’ windfall profits would jeopardise the stability of the financial system, government spokesman Konstantinos Letymbiotis said on Friday. His comments came a ...

Cyprus’ economy is projected to maintain its resilience in 2025, with an anticipated growth rate of 3.1 per cent – significantly higher than the EU average – Finance Minister Makis Keravnos said on Friday. ...

More than 800 students from schools across Cyprus participated in a series of lectures and talks organised by the Cyprus Securities and Exchange Commission (CySEC), aimed at enhancing financial literacy among ...

The Bank of Cyprus on Friday announced that it has “swiftly reacted to the European Central Bank’s (ECB) latest decision to cut interest rates,” announcing a reduction in the ...

S&P Global Ratings has upgraded the long-term issuer credit rating of Freedom Finance Europe Ltd., which operates under the Freedom24 brand, from ‘B’ to ‘B+’. According to the ...

A deadlocked vote in parliament on Thursday spelled the defeat of a bill that sought to impose a tax on the ‘windfall profits’ of banks, with the debate taking up ...

The ECB has cut interest rates by a quarter point. It also kept the door open to further easing ahead as inflation closes in on its goal and the economy ...

Bank of Cyprus has introduced the QuickPay QR Code, a new feature enabling customers to send and receive payments quickly and securely through the BoC Mobile App using only their ...

The Cyprus Stock Exchange (CSE) has announced the suspension of trading for Hellenic Bank’s Tier 1 and Tier 2 Convertible Capital Securities, effective from Thursday, December 19, 2024. This decision follows Hellenic Bank’...

Disy and Akel on Wednesday were predictably on the opposite sides of the argument over the contentious ‘bank tax’ bill set to go to plenum on Thursday. Submitted by Akel, ...

What specific measures is Invest Cyprus currently taking to position Cyprus as a leading fintech hub? Our strategy for 2024-2026 focuses on three key areas: first establishing Cyprus as a ...