Cypriot economy expected to benefit from ECB rate cut
The European Central Bank’s (ECB) decision to cut interest rates by 0.25 per cent on Thursday is expected to have a positive impact on the Cypriot economy, Professor Sofronis Clerides, ...
Banks likely to cut savings rates faster than ECB, fintech CEO warns
The European Central Bank (ECB) on Thursday cut interest rates for the first time in five years, a significant move amidst a backdrop of economic uncertainty.
The ECB lowered its ...
Eurobank receives ECB approval for €342 million cash dividend
Eurobank has received approval from the European Central Bank (ECB) to distribute a cash dividend of €342 million, equivalent to €0.0933 per share, according to an official announcement released this week.
The ...
Eurobank’s Egg business accelerator shines at EBAN Congress
Eurobank’s esteemed business accelerator, enter grow go (egg), has recently been distinguished as the Best Performing New EBAN Member for 2024.
This prestigious award was presented during a special event ...
ECB cuts interest rates for first time in 5 years — future moves unclear
The European Central Bank cut interest rates for the first time in five years on Thursday but kept investors in the dark about its next move given increasing uncertainty over ...
Cyprus sees €20.9 million increase in new loans in April
Net new loans in Cyprus increased by €20.9 million in April 2024, according to a report released this week by the Central Bank of Cyprus (CBC).
Specifically, according to the report, net ...
Central Bank of Cyprus reports decline in deposit rates for April
The Central Bank of Cyprus released a report this week indicating a decline in deposit rates for April, while loan interest rates fluctuated across categories during the same period of ...
Eurobank acquires additional shares in Hellenic Bank
Eurobank S.A. on Tuesday, June 4, announced the acquisition of 31,959 shares of Hellenic Bank Public Company Ltd from investment funds managed by Senvest Management LLC.
According to the announcement, the ...
Eurobank now holds 55.3 per cent stake in Hellenic Bank
Eurobank S.A. has announced that it now holds 55.3 per cent of the total issued share capital of Hellenic Bank.
The bank revealed that it has submitted a Mandatory Public ...
Cypriot banks’ return on equity surged to 24.6 per cent in 2023
The return on equity for the Cypriot banking system after taxes reached 24.6 per cent at the end of 2023, compared to just 4.8 per cent at the end of 2022, according to a ...
How to invest in precious metals ?
The most successful people today have one thing in common: investments. There are so many things people can invest in today, but nothing beats the value of precious metals. Investing ...
CDB Bank announces partnership with Bank of New York Mellon
CDB Bank this week announced the commencement of its partnership with the Bank of New York Mellon as its correspondent bank.
According to an official announcement by the Cyprus Development ...
Cyprus Stock Exchange and Hellenic Energy Exchange sign partnership agreement
The aim is to support the Cypriot market in achieving its green transition objectives
The Cyprus Stock Exchange (CSE) and the Hellenic Energy Exchange (HEnEx) this week signed a Memorandum ...
Cyprus Stock Exchange accepts listing of €16 million in treasury bills
The Cyprus Stock Exchange (CSE) has announced the acceptance of the listing of 16,000 13-week Treasury Bills, 3rd issue, Series 2024 (31/05/2024 – 30/08/2024), with a nominal value of €1,000 each, amounting to a total value ...
EU should delay implementing some bank rules if US drags feet, Villeroy says
The European Union “could and should” delay the implementation of certain bank capital rules if the US drags its feet too long on fully implementing the Basel III rules, according ...
Deposits in Cyprus rise for third consecutive month, loans decrease
Deposits in the Cypriot banking system increased for the third consecutive month in April of this year, while loans recorded a net decrease after two months of growth, according to ...
Cypriot banks first quarter profits hit €226 million
Increased interest income, driven by successive interest rate hikes from the European Central Bank (ECB), has significantly boosted Cypriot banks’ profits in the first quarter of 2024, which amounted to €226 million ...
Rating firms cautious ratifying some private credit loans
Banks and insurers are making more requests to US credit agencies for ratings on their risky loans to private equity funds that are secured against the value of their portfolio ...
CySEC announces launch event for its regulatory sandbox
In response to the rapid advancements in financial, regulatory, and supervisory technology (FinTech, RegTech, and SupTech), the Cyprus Securities and Exchange Commission (CySEC) on Tuesday announced the launch of its ...
CySEC issues decisions on firm license withdrawals, public takeover exemption
The Cyprus Securities and Exchange Commission (CySEC) recently announced a number of decisions pertaining to firms operating on the island, including the withdrawal of license authorisation.
On Monday, CySEC stated ...
CBC to enforce EU regulations under new bill
A newly introduced bill in the House aims to clarify the Central Bank of Cyprus’ (CBC) role as the competent authority for implementing European Union (EU) legal acts and imposing ...
Cypriot banks repay €1.8 billion in ECB loans in March
Cypriot banks made significant repayments on loans from the European Central Bank’s (ECB) Targeted Longer-Term Refinancing Operations (TLTROs) in March of this year, according to data released on Monday ...
Europe stock pickers go old-school to ride the next wave in AI
European stock pickers are turning to more established sectors like utilities, professional data providers and even copper miners to tap into the next wave of the AI boom, a year ...
Cyprus sees slight increase in non-performing loans
There was a slight increase in the absolute numbers of non-performing loans (NPLs) in Cyprus in January of this year, with the ratio of NPLs to total loans remaining stable ...