Banking and Finance

Greek lender Eurobank on Wednesday announced that it has formally entered into a share purchase agreement with Poppy S.à r.l., outlining its intention to acquire an additional 17.3 per cent ...

Swiss lender Credit Suisse did not review all available records when it conducted an internal probe into the historical servicing of Nazi clients and Nazi-linked accounts, according to an investigation ...

A look at the day ahead in US and global markets from Mike Dolan Far from the recession forecasts of earlier this year, US economic growth may actually be accelerating ...

Russian authorities are discussing bringing back the compulsory sale of foreign currency revenues for exporters, five sources familiar with the matter told Reuters, with one high-level source saying that the ...

As the financial industry continues to evolve in Cyprus, brokerages are increasingly recognizing the pivotal role of educational staff. These dedicated professionals go beyond conventional client services, serving as guides ...

The Cyprus Association for the Protection of Borrowers (Syprodat) this week said that a commercial bank is moving forward with the auction of a 72-year-old retiree’s primary residence, valued ...

Hellenic Bank takes real action for the community and the environment, with an emphasis on implementing sustainable practices and supporting ‘green’ initiatives and businesses Leading the way in the transition ...

Moody’s cut credit ratings of several small to mid-sized US banks on Monday and said it may downgrade some of the nation’s biggest lenders, warning that the sector’...

Cyprus has been garnering substantial attention from international investors, particularly from fund managers and investment funds, as it solidifies its position as a top investment destination in Eastern Europe and ...

Around 80 per cent of Hong Kong-based investment banking staff at Credit Suisse will be made redundant starting this week, two people with knowledge of the matter said, as part of ...

The lightning-fast collapse of Silicon Valley Bank this spring laid bare an inconvenient truth: Some US banks are not prepared to borrow from the Federal Reserve if they need to, ...

Here are the top business stories in Cyprus from the week starting July 31: Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his ...

In June, the interest rates on deposits in the Cypriot banking system experienced the largest monthly increase since the European Central Bank (ECB) began its efforts to raise key interest ...

Cyprus bankers’ union Etyk this week released a statement conveying their positive outlook on the recent changes in the administration of Hellenic Bank, congratulating the interim Chief Executive Officer Antonis ...

Cyprus saw its net new borrowing, excluding restructurings, reach €1.73 billion in the first half of 2023, showing a modest annual increase of 1.26 per cent, according to a report released this week ...

European Union banks’ plans for surviving a major crisis without having to tap central bank money will undergo intense scrutiny next year, the bloc’s banking watchdog said. The need ...

European Central Bank board member Fabio Panetta made the case on Thursday for keeping the ECB’s interest rates at their current high level for longer, rather than raising them ...

State-owned asset management company Kedipes on Thursday announced that in the coming days, it will be returning interest payments totalling €4.6 million to borrowers with restructured credit facilities for the first ...

The Cyprus Securities and Exchange Commission (CySEC) on Wednesday reported a positive growth trend in the Collective Investments sector for the first quarter of 2023, with the number of Management Companies ...

Eurobank Cyprus on Wednesday released its financial results for the first half of 2023, with the figures reflecting a solid performance characterised by strong capital adequacy and profitability. The bank’s ...

In an official statement released by Hellenic Bank this week, it has been confirmed that the bank has retained its position as the most adequately capitalised systemic bank in Cyprus, ...

In an unexpected move, Hellenic Bank on Tuesday announced that chief executive officer Oliver Gatzke will be stepping down from his position a year early. The decision comes after Gatzke ...

Cyprus has recorded a fiscal surplus of €155.5 million, equivalent to 0.5 per cent of GDP, during the first half of 2023, according to the latest preliminary results, released on Monday by the ...

Cyprus witnessed a significant surge in private debt during the first quarter of 2023, reaching a staggering 218 per cent of the country’s Gross Domestic Product (GDP), amounting to €60.1 billion, according ...