Banking and Finance

Saving for retirement is essential, and an IRA can help you grow your money while giving you tax benefits. Adding as much as you can to your IRA in 2025 can ...

Lending criteria for businesses and households in Cyprus remained unchanged during the third quarter of 2024, when compared to the previous quarter, according to the bank lending survey published by the ...

The Bank of Cyprus on Wednesday announced the launch of a new rewards initiative for mortgage borrowers who have remained up-to-date with their repayment schedules. The programme is part of ...

Household deposit and lending rates in Cyprus continued to rise in December, according to a report released this week by the Central Bank of Cyprus (CBC). The interest rate for ...

New business and household loans in Cyprus reached a record high of €3.9 billion in 2024, up from €3.3 billion in 2023, according to the Central Bank of Cyprus (CBC). This total represents the ...

Hellenic Bank on Tuesday announced a further reduction in the reference rate for all loans linked to the European Central Bank’s (ECB) base rate. Specifically, the interest rate has ...

Cypriot banks are expected to prioritise new lending in 2025 and beyond, as they seek to offset the impact of lower interest rates and capitalise on a historically low loan-to-deposit ratio. ...

Deputy Shipping Minister Marina Hadjimanolis strengthened Cyprus’ maritime ties with Oman by signing two crucial Memoranda of Understanding (MoUs) this week in Muscat. These agreements focus on maritime cooperation and ...

Bank cards remain the most widely used payment method in Cyprus by total transaction volume, according to the Central Bank of Cyprus’ (CBC) latest payment statistics report. The report, which ...

Interest rates on deposits and loans in Cyprus and Greece vary significantly, with Cypriot banks generally offering lower deposit rates than their Greek counterparts, In addition, according to a report ...

The protection of borrowers hinges not only on legal compliance but also on the social responsibility of banks and credit acquisition companies (CACs), according to Costas Melas, president of the ...

The National Bank of Greece (Cyprus) recently presented its activities in the Cypriot business environment during a conference held in Athens. In a speech delivered at the event, Marilena Sevastidou, ...

Here are the top business stories in Cyprus from the week starting January 27: The Limassol Chamber of Commerce and Industry (Evel) has called for a comprehensive and environmentally conscious approach ...

Parliament has approved the Cyprus Stock Exchange (CSE) budget for 2025, with 35 votes in favour and two abstentions. The budget is expected to run at a deficit of approximately €1.88 million. Specifically, ...

The Central Bank of Cyprus (CBC) has set the reference interest rate at 11.5 per cent, following the authority granted under Article 314A of the Criminal Code, Cap. 154. This new rate ...

The Bank of Cyprus on Friday announced that it has responded to the European Central Bank’s (ECB) interest rate reduction decisions, lowering its reference rate for loans linked to ...

Finance Minister Makis Keravnos on Friday expressed satisfaction with the European Central Bank’s (ECB) decision to further reduce key interest rates by 0.25 per cent. In a written statement, Keravnos ...

Hellenic Bank senior general manager Stephanos Kassianides has highlighted the crucial role of a robust banking system in fostering business initiatives and economic growth. Speaking during a business event in ...

“Cyprus is not just an economic miracle; it’s a resilient, flexible, and forward-looking economy,” according to Stavros Ioannou, Deputy CEO of Eurobank. Speaking at a recent conference in Athens, ...

The Cyprus Securities and Exchange Commission (CySEC) on Thursday hosted the plenary meeting of the International Organisation of Securities Commission’s (IOSCO) European Regional Committee (ERC) in Nicosia. The ERC ...

The European Central Bank (ECB) on Thursday announced a reduction in its three key interest rates by 0.25 per cent. This brings the deposit facility rate to 2.75 per cent, the main ...

CFA Society Cyprus and the Cyprus Compliance Association (CCA) have announced the signing of a memorandum of understanding (MoU). According to the announcement, this aims to “elevate transparency and professional ...

The payments industry is undergoing a rapid transformation, with technological innovations like tap-to-pay, blockchain integration, and generative AI shaping its future, according to payments giant Mastercard. The company on Thursday ...

Cyprus saw a substantial increase in loans in December 2024, with a rise of €503.2 million following a decrease the previous month, according to the Central Bank of Cyprus (CBC). At the ...