Banking and Finance

The state-owned Housing Finance Corporation (HFC) will be able to buy performing loans and sell its non-performing loans like any other bank, under a law passed by the House on ...

The European Commission this week projected a significant 30 per cent decrease in Cyprus’ public debt, as a percentage of its Gross Domestic Product (GDP), by the end of 2024. This projection ...

Scope Ratings, a German rating agency, this week upgraded the long-term rating of the Republic of Cyprus from BBB to BBB+, maintaining a stable outlook for the Cypriot economy. This ...

The ability of Cypriot banks to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’...

The British Business Bank (BBB) will set up a new fund for pension schemes and asset managers to invest in growth companies, part of wider reforms to unlock savers’ cash ...

Here are the top business stories in Cyprus from the week starting November 13: Port management company DP World Limassol on Wednesday announced that Limassol port saw record cruise ship calls ...

The third quarter of 2023 saw a significant decline in the assets of investment organisations in Cyprus, despite a rise in their numbers, according to a report released on Friday by ...

As financial services evolve, two terms have increasingly become the focal point of discussion and innovation: open banking and open finance. These concepts, though related, offer distinct advantages and have ...

The Cyprus Investment Funds Association (CIFA) on Friday expressed its commendation for the recent approval by the Cabinet of a draft law regarding the establishment and operation of Fund Managers ...

The head of the International Monetary Fund has urged countries to make a more proactive push to develop central bank digital currencies (CBDC). Eleven countries, including a number in the ...

One of the best ways to forego the outrageous 400%+ APRs charged by traditional payday cash advances is using loan apps like Dave, MoneyLion, SoLo, and Brigit. They offer many benefits, ...

Endeavouring to support its customers through the current challenging financial pressures, Hellenic Bank has introduced an array of new measures aimed at easing its customers’ obligations, while facilitating their banking ...

The Cabinet has greenlit a pivotal legislative draft titled ‘The Establishment and Operation of Collective Investment Organisation Management Companies Law of 2023’, which aims to regulate the operations of Fund Managers ...

The Bank of Cyprus is set to complete its Minimum Requirement for Own Funds and Eligible Liabilities (MREL) target one year earlier than expected, signalling progress towards sustainable profitability, as ...

Greece on Monday announced plans to sell a 20 per cent stake in National Bank of Greece (NBG) after concluding the sale of a 9 per cent stake in Alpha Bank to ...

Greece’s state-controlled bank bailout fund HFSF said on Monday it sold its 9 per cent stake in Alpha Bank (ACBr.AT) to UniCredit for 293.5 million euros ($314 million) after an improved ...

Eurozone economic growth will remain weak in the near term as services and the labour market weaken but nations in the bloc should not free discretionary bank buffers to ease ...

The top US consumer financial watchdog recently proposed to regulate tech giants’ digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack ...

The overall solvency index of the Cypriot banking sector rose to 23.3 per cent in the second quarter of 2023, up from 21.7 per cent in the first quarter of the year, marking ...

The Cyprus Development Bank (CDB Bank) has been reported to be in discussions with an Armenian banking institution regarding a potential acquisition, following the breakdown of talks with AstroBank, according ...

Hellenic Bank is expected to present its financial results for the first nine months of 2023 on November 21, according to an announcement released this week. According to the announcement, the bank’...

High-profile event in Nicosia explores strengthening economic ties between Cyprus and India Eurobank Cyprus hosted a working dinner on Thursday at the Hilton Hotel in Nicosia, featuring top executives from ...

A court decision awarding over €780,000 to a depositor who lost his Laiki Bank savings due to the 2013 ‘haircut’ ignited a wave of reactions on Thursday, with the attorney general’s ...

In the dynamic landscape of business, growth is not merely a goal; it’s a necessity for long-term success. However, the path to expansion is fraught with challenges, and one ...