Banking and Finance

Ratings agency S&P Global this week announced a one-notch upgrade in the long-term credit rating of the Bank of Cyprus (BoC) to “BB” from “BB-,” with a positive ...

The European Banking Authority (EBA) released its annual assessment of European banking risks this week, revealing the ranking of Cypriot banks concerning interest payments on household deposits and their capital ...

Cyprus’ banking system witnessed a further decline in non-performing loans (NPLs) at the end of September 2023, dropping to €2.02 billion from €2.08 billion in August, reflecting an ongoing trend of improvement, according ...

The Bank of England looks set to keep interest rates at a 15-year high later on Thursday, but investors are most focused on whether policymakers will push back against growing ...

The European Central Bank faces a difficult balancing act on Thursday as it likely slashes its forecasts for growth and inflation while trying to temper speculation about imminent interest rate ...

The Central Bank of Cyprus (CBC) on Thursday released a statement confirming the bank holidays for the upcoming festive season, while urging the public to plan accordingly. According to the ...

Britain’s payments regulator on Wednesday provisionally proposed a cap on cross-border interchange fees charged by Mastercard (MA.N) and Visa (V.N) on transactions made between the UK and ...

The Central Bank of Cyprus (CBC) on Monday released a report revealing that a total of 33 bounced cheques, valued at €60,851, were issued in November 2023. This has led to the registration ...

The European Central Bank’s continual balance sheet offloading in its battle against inflation has kept the value of Cypriot bonds held within the Eurosystem at €6.75 billion, according to a ...

The Ministry of Finance on Monday announced that the Republic of Cyprus and France ratified an updated double tax treaty, first announced on Friday, in an effort to eradicate double ...

Cyberattacks against the government pose as the biggest risk to the Cypriot economy, while the mass influx of migrants and deteriorating climate change conditions make up remaining top three risks, ...

Britain’s “big promises” to boost the financial sector’s post-Brexit global competitiveness have been a “damp squib”, with many of the changes yet to be implemented and none so ...

Cyprus Stock Exchange (CSE) president Marinos Christodoulides recently emphasised the growing importance of Sustainable Development, Social Responsibility, and Corporate Governance in the financial sector. Addressing attendees at the ESG Cyprus ...

Central Bank of Cyprus Governor Constantinos Herodotou on Thursday addressed attendees at the 11th Banking Forum & Fintech EXPO, discussing the impact of technology on the financial sector. Held at ...

The central government’s debt fell by 5.6 per cent between June and September to €22.5 billion. The figure amounts to a €1.33bn reduction over the course of the three-month period in ...

The Cyprus Committee of Financial Literacy and Education convened for the first time at the Central Bank of Cyprus (CBC) on Tuesday, December 5, according to a statement released on Wednesday. ...

European stocks are set for a bullish start if they follow the Asia-Pacific lead, buoyed by a drop in bond yields on deepening confidence that the major central banks’ tightening ...

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury has issued new sanctions orders concerning three Cyprus-based entities on Wednesday. The new sanctions include three ...

Barclays (BARC.L) shares opened 4.5 per cent lower on Tuesday after one of the bank’s largest shareholders Qatar Holding moved to sell around 510 million pounds ($644 million) of its stock, ...

The European Central Bank can take further interest rate hikes off the table given a “remarkable” fall in inflation and policymakers should not guide for rates to remain steady through ...

The Cyprus Borrowers Association (Syprodat) on Monday released a statement expressing its satisfaction with the official launch of the mortgage-to-rent scheme, which went into effect today. The scheme has already ...

By Maria Demertzis How well are central banks doing? Right now, they are making losses but, unlike most large institutions, we should not assess their performance on annual profit and ...

A mix of global economic unease and geopolitical uncertainty means optimism is in short supply among bankers from the City of London to Frankfurt’s ‘Mainhattan’ financial district. Even rainmakers ...

Goldman Sachs on Friday said it now expects the European Central Bank (ECB) to deliver its first interest rate cut in the second quarter of 2024, compared to an earlier forecast ...