Banking and Finance

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 ...

The Bank of Cyprus on Wednesday announced that it has renewed its ‘Equality Employer’ certification, recognising its efforts to promote gender equality in the workplace. According to the announcement, the ...

Short-termism has become a dominant feature of the investment landscape. Amid market volatility, geopolitical tensions and an overwhelming flow of news, staying focused on the bigger picture has become more ...

The Association of Cyprus Banks on Tuesday expressed its readiness to adjust interest rates tied to the European Central Bank’s (ECB) base rate immediately after the ECB’s forthcoming ...

Billionaire entrepreneur Roman Avdeev has finalised the sale of his remaining stake in Rossium Group and other assets, completing his exit from all Russian business holdings. The transaction, originally announced ...

The Bank of Cyprus on Tuesday announced that it has been awarded the title of Bank of the Year in Cyprus for 2024 by The Banker, a leading international banking and ...

The Central Bank of Cyprus (CBC) on Tuesday announced key deadlines for the implementation of the EU Instant Payments Regulation. The EU’s Instant Payments Regulation is a new regulation ...

Despite appearing to lack the necessary support in parliament, a bill imposing a new ‘bank tax’ will go to the House plenum later this week. Tabled by opposition party Akel, ...

Antony Barnett, Chief Executive Officer of Limassol-based Network Financial Services (NFS), is no stranger to the delicate balancing act of financial planning. With a career that spans years of experience, ...

The European Union’s Digital Operational Resilience Act (DORA), taking effect on January 17, 2025, will impose tougher cybersecurity rules on financial entities, with the Central Bank of Cyprus (CBC) urging compliance ...