Banking and Finance

AstroBank on Wednesday released its annual results for 2022, reporting strong profitability for the year, with net income reaching €12.2 million, and consequently increasing common shareholders’ equity to €203.7 million. According to ...

Household assets in financial instruments amounted to €59.7 billion at the end of December 2022, according to an announcement by the Central Bank of Cyprus (CBC) released on Tuesday. According to the ...

Euro zone banks are turning off the credit taps and a key gauge of inflation is finally falling, data showed on Tuesday, boosting the case for a smaller interest-rate increase ...

HSBC Holdings (HSBA.L) reported on Tuesday its quarterly profit tripled, beating expectations, as rising interest rates worldwide boosted the lender’s income and helped it pay a first quarterly ...

The balance of deposits in Cyprus reached €51.9 billion in March 2023, while the balance of total loans amounted to €25.1 billion, according to a report published on Tuesday by the Central Bank ...

Cyprus has been identified as a “potential rising star” for the rise of its credit rating in the investment category, according to a report released on Monday by global rating ...

Morgan Stanley (MS.N) is planning to eliminate about 3,000 jobs in the second quarter, a source told Reuters on Monday, in its second round of job cuts in six months. ...

Inflation in the euro area is too high for comfort, meaning markets expect the European Central Bank to deliver its seventh straight interest rate hike on Thursday. With some stability ...

Currencies were in limbo on Monday as holidays in most of Asia made for thin trading, while traders braced for a packed week of central bank meetings that would offer ...

JPMorgan Chase & Co (JPM.N) will buy most of First Republic Bank’s (FRC.N) assets in a last-ditch rescue led by US regulators, marking the third major US ...

The U.S. Treasury Department is encouraged that First Republic Bank FRC.N was resolved with the least cost to the Deposit Insurance Fund, and believes the U.S. banking ...

JPMorgan Chase & Co JPM.N said on Monday it will buy most of First Republic Bank’s FRC.N assets after regulators seized the troubled lender at the weekend, ...

By Maria Demertzis “Every night I ask myself why all countries have to base their trade on the dollar,” Brazil’s President Lula da Silva said in a 13 April speech ...

By George M. Georgiou In 2021 the World Bank became embroiled in a scandal involving its flagship publication Doing Business. An independent investigation by the law firm WilmerHale, published in September 2021, ...

Here are the top business stories in Cyprus from the week starting April 24: Cyprus’ shipping industry will continue to improve, according to the country’s Deputy Minister of Shipping, as ...

Exante, a global investment company with a presence in Cyprus, this week held an event in Limassol which sought to provide insights on current economic trends and what might be ...

Non-performing loans (NPLs) in Cyprus remained steady at 9.5 per cent of total loans at the end of January 2023, as in the previous month, while absolute NPL numbers rose by around €13 ...

The Cyprus Chamber of Commerce and Industry (Keve) this week announced that a tripartite business mission to Almaty, Kazakhstan is set to take place on 16-19 May 2023. The mission, which ...

British bank NatWest (NWG.L) posted better than expected profit for the first three months of 2023 as income soared 37 per cent, even as inflation hammered households and fierce pricing competition ...

In mid-March, as prices for US Treasury bonds swung wildly following the collapse of Silicon Valley Bank, the trading desk at Legal & General Investment Management hit its top limits ...

Hellenic Bank on Thursday released a statement in which it underlined its support for the shipping industry and its people, something which is reflected through its backing of this year’...

Cyprus’ trade deficit for 2022 amounted to €7.1 billion, according to a report released this week by the Cyprus Statistical Service (Cystat). The report revealed that the main trading partner for Cyprus ...

Barclays reported better than expected first-quarter profit on Thursday after a strong performance from its credit card business offset pressure on other business lines. The British bank’s pretax profit ...

Deutsche Bank (DBKGn.DE) reported a better-than-expected 9 per cent rise in first-quarter profit on Thursday as income from higher interest rates offset a slump in revenues at the investment bank, ...