Banking and Finance

The transport sector has witnessed a decline in turnover, according to the latest data released by the Cyprus Statistical Service (Cystat). The turnover index for transport and storage in the ...

Representatives of Cyprus’ Research and Innovation Foundation (RFI) and of the Japan Science and Technology Organisation (JST) recently met in Nicosia, to establish collaborations in cutting-edge fields such as artificial ...

The Bank of Cyprus on Monday announced a revision to its privacy statement in alignment with the European Union’s general data protection regulation (GDPR) and relevant national legislation. The ...

Hellenic Bank’s board of directors on Friday issued a statement regarding the public offer made by Greece’s Eurobank to acquire the entirety of its share capital, deeming the ...

The Cyprus Investment Funds Association (CIFA) on Friday expressed satisfaction with the increase in Assets Under Management (AUM) of Cypriot investment funds. According to the latest data released this week ...

Cypriot lender AstroBank announced on Thursday the opening of its new branch in Dali, Nicosia, marking the 15th location in its expanding network. In its announcement, the bank noted that ...

Rating agency Morningstar DBRS has indicated it will closely monitor developments surrounding Eurobank’s acquisition of Hellenic Bank, predicting a generally neutral impact on the bank’s credit fundamentals with ...

Moody’s Ratings announced on Thursday that it has upgraded the Bank of Cyprus’ long-term deposit ratings to Baa1 from Baa3, changing the outlook to stable from positive. According to ...

The Cyprus Securities and Exchange Commission (CySEC) on Wednesday released its quarterly bulletin, revealing that the number of Management Companies and Undertakings of Collective Investments (UCIs) under its supervision remained ...

Christos Panayides has been re-elected as secretary general of the bank employees’ union Etyk, following the formation of a new board of directors. According to an announcement released this week, ...

Cypriot lender Hellenic Bank has signed an agreement to acquire insurance provider CNP Cyprus, according to an announcement made by the bank on Wednesday. The announcement stated that the consultation ...

Digital payments have a significantly smaller environmental impact compared to cash transactions, according to a report by the European Digital Payments Industry Alliance (EDPIA). The study, conducted by Oxford Economics, ...

The Central Bank of Cyprus (CBC) presented the benefits of the planned digital euro at a press conference on Tuesday, while also providing details on the efforts being made behind ...

The Bank of Cyprus on Tuesday celebrated the graduation of the inaugural class from the BoC Academy, an initiative carried out in collaboration with the CIM Business School. Launched in 2023, ...

British fintech company Revolut’s CEO Nikolay Storonsky will cash in part of his multibillion dollar stake in the company as part of a $500 million share sale, according to a ...

UBS is seeing a shift in the way clients are interacting with their bankers powered by artificial intelligence, according to the head of the Swiss bank’s domestic business Sabine ...

The Central Bank of Cyprus (CBC) announced on Thursday that new loans taken out by non-financial corporations over €1 million increased by 10 per cent in May of this year, despite a 0.52 ...

The Central Bank of Cyprus (CBC) stated in its 2023 annual report, which was published this week, that increased bank profitability is not expected to alter the supervisory authorities’ prudent policy ...

Public sector workers’ unions and bank employees’ union Etyk are planning to create a new cooperative savings bank. Civil servants’ union Pasydy secretary-general Stratis Matheou told the Cyprus Mail on ...

Credit rating agency Fitch Ratings this week upgraded Hellenic Bank’s long-term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’, with a stable outlook, and its Viability Rating (VR) to ‘...

Eurobank has revealed its intention to gain full control of Hellenic Bank’s share capital and voting rights, while also sharing details about the company’s future operations, according to ...

Eurobank on Monday announced that it now holds shares representing 55.48 per cent of the total issued share capital and voting rights of Hellenic Bank. Specifically, Eurobank S.A., a subsidiary ...

Banks as well as government officials on Monday all but gave the thumbs-down to the idea of taxing the windfall profits of commercial lenders, a proposal brought by opposition party ...

The Central Bank of Cyprus (CBC) has decided to maintain the countercyclical capital buffer (CCyB) rate at 1 per cent, in accordance with the Macroprudential Supervision of Institutions Laws of 2015 to 2022, ...