Banking and Finance

The European Central Bank is all but certain to raise borrowing costs to their highest level in 22 years on Thursday and leave the door open to more hikes, extending its ...

The Cyprus Association for the Protection of Borrowers (Syprodat) this week issued a statement welcoming President Christodoulides’ call to banks to follow proper loan restructuring procedures. The president’s comments ...

The significant improvement in the yield margins of yesterday’s issuance of AT1 capital bonds reflects the bank’s transition into a sustainable and profitable banking institution, according to Bank ...

Cyprus’ trade deficit reached €3.11 billion during the period of January to April 2023, according to the latest report released by the Cyprus Statistical Service (Cystat). According to the available data, this ...

The issuance of Additional Tier 1 (AT1) capital bonds has generated significant interest, following the exchange of the previous, more expensive AT1 bonds worth €220 million, with an interest rate of 12.50 per ...

Cyprus and Greece have taken different paths toward resolving the previously sizable number of non-performing loans (NPLs) in each country, according to a recent piece of analysis by rating agency ...

The Cyprus Development Bank (CDB Bank) on Monday launched a new depository product with flexible terms and an interest rate of up to 2.05 per cent. According to the announcement, the ‘...

The number of registered vehicles in Cyprus witnessed a significant surge this year, soaring by 24.9 per cent between January and May 2023, according to the latest data released by the state’...

Central bankers, who once considered obscurity central to their craft, are trying to wean the world from the predictability they’ve nurtured over 15 years of concrete guidance about their intentions ...

Cypriot lender AstroBank on Monday announced that it has raised its deposit rates, describing the move as a response to the needs of its clientele and the Cypriot economy in ...

UBS (UBSG.S) on Monday said it had completed its emergency takeover of embattled local rival Credit Suisse (CSGN.S), creating a giant Swiss bank with a balance sheet of $1.6 ...

JPMorgan said on Monday it expects Turkey’s central bank to hike interest rates to 25 per cent from the current 8.5 per cent at its June meeting, adding this could come ...

Here are the top business stories in Cyprus from the week starting June 5: Cypriot firm Ask Wire on Thursday released a report examining the Paphos property market for 2022, including an ...

A small minority will not be allowed to tarnish Cyprus’ reputation, which has been built over many years, President Nikos Christodoulides said on Saturday. Addressing the bank worker’s union, ...

Lebanon must take urgent action on comprehensive economic reforms to avoid “irreversible consequences” for its economy, the International Monetary Fund said on Thursday. IMF spokesperson Julie Kozack told reporters that ...

Switzerland’s parliament has formally agreed to establish a parliamentary commission (PUK) to look into Credit Suisse’s (CSGN.S) collapse and rescue in a deal engineered by Swiss authorities, ...

Cypriot lender AstroBank on Wednesday announced that it is freezing the base interest rate for first-time homebuyers for all eligible borrowers. “AstroBank is moving forward with a programme to reward ...

Total new loans in Cyprus decreased to €473.9 million in April 2023, compared to €922.5 million in the previous month, according to a report released on Tuesday to the Central Bank of Cyprus (...

Meeting customers’ needs, Hellenic Bank rises to the challenge by modernising banking services Thanks to user-friendly Online Banking, customers get free and instant access and can manage accounts – hassle-free, securely, ...

The economy of Cyprus is expected to experience a slowdown, with growth projected to reach approximately 2.5 per cent in 2023, according to a report released on Tuesday by the International Monetary ...

UBS (UBSG.S) expects to complete its takeover of Credit Suisse (CSGN.S) “as early as June 12”, which will create a giant Swiss bank with a balance sheet of $1.6 trillion ...

In recent years, most banks have gone through some form of Digital Transformation. Bank of Cyprus has been a leader in providing innovative digital services to its customers “As technological ...

Investors who earned easy money with high-risk bonds invented after the financial crisis are being forced to accept that the rules have changed: they may not get paid. Banks typically ...

The UAE Central Bank has issued new anti-money laundering and counter-terrorism financing guidance for financial institutions when dealing with virtual assets, such as cryptocurrencies and non-fungible tokens, it said on ...