Windfall tax on banks heading for rejection
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 ...
CBC keeps countercyclical capital buffer at 1 per cent
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, ...
House to debate collective investment legislation in September — stakeholders raise concerns
The House is expected to discuss legislation concerning the establishment and operation of collective investment organisations in September, following the end of the summer recess, according to statements made on ...
Deposits in Cypriot banking system increase by €925.7 million in May
Deposits and loans in the Cypriot financial system both experienced an increase in May of this year, according to a report released this week by the Central Bank of Cyprus (...
CySEC approves Eurobank’s bid to acquire 100 per cent stake in Hellenic Bank
The Cyprus Securities and Exchange Commission (CySEC) on June 25 approved the publication of the Public Offer Document for the acquisition of up to 100 per cent of Hellenic Bank’s issued ...
Hellenic Bank to launch new financial tool for agricultural sector
The challenges and trends of the primary sector, which concerns activities that typically provide raw materials for further processing, were discussed at the 7th Pan-Cyprian Dairy, Agriculture, and Livestock Conference, ...
AstroBank wins private banking award
AstroBank has been named the Best Private Bank in Cyprus for 2024 at the Global Private Banking Innovation Awards, according to an announcement by the bank released on Wednesday.
The announcement ...
Bank of Cyprus bond issuance garners international acclaim
The Bank of Cyprus has been awarded the prestigious “Best Financial Institution Bond in Southeast Europe” by the business periodical EMEA Finance, for its highly successful issuance of Additional Tier 1 (...
Cyprus banking sector in the spotlight amidst potential stake sale
The potential sale of a substantial stake in the Bank of Cyprus’ equity, along with geopolitical developments, took centre stage at the Cyprus International Business Association (CIBA) forum, which took ...
Understanding small-cap stocks: A comprehensive guide
Small-cap stocks are the hidden gems of the investment world. These companies, with market caps between $300 million and $2 billion, offer huge growth potential and exciting opportunities. Their lower visibility means ...
Global central banks recalibrate as the big policy easing of 2024 fizzles
Six months ago the world’s major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business ...
Bond issuance confirms Cyprus government’s intent for further debt reduction, investment firm says
Cyprus has demonstrated flexibility in choosing its timing to enter the markets for the issuance of a 7-year bond, which sought to raise €1 billion, according to investment firm Athlos Capital.
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Finance Ministry on alert over potential Bank of Cyprus equity sale
The Finance Ministry has been spurned into action by the news reported by Bloomberg that AB CarVal Investors and Caius Capital are interested in selling their shares in the Bank ...
President discusses economic growth, US talks with bank association
The positive trajectory of the Cypriot economy, the successful issuance of a seven-year bond by the Republic of Cyprus, the commencement of strategic dialogue with the US, digital transformation, and ...
Alpha Bank denies reports of negotiations to acquire stake in Bank of Cyprus
Alpha Services and Holdings S.A. (Alpha Holdings) has denied recent media reports claiming that the company is in negotiations to acquire a stake in the Bank of Cyprus Holdings ...
Bank of England keeps rates at 16-year high before UK election (updated)
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25 per cent at its last meeting before July 4’s UK election, but the prospect of ...
S&P upgrades Bank of Cyprus’ credit rating to BB+ with positive outlook
International credit rating agency Standard & Poor’s (S&P) this week upgraded the long-term credit rating of the Bank of Cyprus to BB+ with a positive outlook.
This ...
Moody’s reviews Hellenic Bank for potential upgrade
International credit rating agency Moody’s this week announced that it has initiated a review for a possible upgrade of all ratings and assessments of Hellenic Bank.
According to the ...
Central Bank of Cyprus revises GDP growth forecast to 3 per cent — increased domestic demand cited as key reason
The Central Bank of Cyprus (CBC) this week revised its forecast for the country’s GDP growth in 2024 to 3 per cent, up from the 2.8 per cent predicted in March, primarily ...
Cyprus to issue new €1 billion 7-year bond
The Republic of Cyprus on Tuesday announced the appointment of investment banks Citi, Deutsche Bank, Goldman Sachs Europe, and HSBC as advisors for the issuance of a new €1 billion 7-year ...
AstroBank CEO Aristides Vourakis takes helm at Cyprus banking association
AstroBank CEO Aristides Vourakis on Tuesday was elected as president of the Association of Cyprus Banks for the next two years, with Antonis Rouvas, interim CEO of Hellenic Bank, stepping ...
Cyprus state officials convey ‘cries of anguish’ over high lending rates at banks association AGM
Cypriot state officials on Tuesday used their attendance at the annual general meeting of the Association of Cyprus Banks to call for a reduction in lending rates and a narrowing ...
Sophic secures over 80 per cent of Cyprus Treasury Bills for clients
Cypriot investment platform Sophic, which is provided by Athlos Capital, has secured over 80 per cent of the latest issuance of Treasury Bills by the Republic of Cyprus for its clients, ...
Cyprus financial literacy committee to implement national strategy
The newly-established Cyprus Financial Literacy and Education Committee (CyFLEC) is set to implement the national strategy for enhancing financial literacy in Cyprus, according to an announcement released on Tuesday by ...