Australian bank accused of illegally billing 460,000 customers
By Byron Kaye SYDNEY, July 25 (Reuters) – The Australian corporate regulator filed suit against the country’s third-largest bank on Thursday, accusing it of knowingly
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Herodotou appointed new CB chief
The president has appointed Constantinos Herodotou governor of the central bank of Cyprus, it was announced on Thursday. Herodotou has been serving as an executive
Hellenic launches second mobile banking unit, 27 communities now covered
Hellenic Bank has launched a second mobile banking unit covering an additional 15 communities to bring the total to 27 that do not have easy
BoC chairman warns of risk of new financial crisis
By Annette Chrysostomou Although the European banking sector is safer now than it was 10 years ago, there is always the risk of another financial
Lenders call on Cyprus to maintain fiscal discipline and speed up reforms
The European institutions (EC, ESM) the ECB and the IMF have called on Cyprus to maintain fiscal discipline and accelerate reforms, especially those linked to
BoC negotiating sale of €3bn in bad loans – report
Investment company Apollo Global Management is the preferred bidder to buy a non-performing loan portfolio worth some €3bn from Bank of Cyprus, reports said. According
Banks raise charges to offset decline in interest income
Declining net interest income has forced banks to raise charges and readjust their interest rates on deposits and loans, as rates in the euro area
Cabinet approves homeowner protection (updated)
The cabinet on Tuesday approved, Estia, a scheme designed to help struggling households repay their debts, and the entity that will manage bad loans, the
Failure to approve Co-op deal would be disastrous, CBC warns (update 2)
A central bank official warned members of the parliament on Thursday that failure to implement Hellenic Bank’s agreement with the Cyprus Cooperative Bank to
Deposits rise to €50.9bn in May, central bank says
Deposits in the Cypriot banking system rose in May by €201.2m in a month, to €50.9bn, as total lending fell by €66.8m, to €48.8bn, the
Employers censure demands for co-op staff compensation (updated)
Employers association OEV said Friday it was unacceptable and an insult for co-op bank unions to demand up to €200,000 in compensation for staff who
Central Bank tells banks to ditch shell companies
The Central Bank of Cyprus is tightening rules against money laundering by asking supervised banks to avoid business with “shell and letterbox companies”. “The Central
Co-op receives revised bid from Hellenic Bank
The Cyprus Cooperative Bank said Friday that it received a “revised proposal” from Hellenic Bank which a month ago submitted a binding offer to buy
Co-op receives two binding offers from investors (Update 2)
Cyprus’s second largest lender, the state-owned Cooperative Central Bank (CCB), said on Monday that it had received proposals for the acquisition of its operations
Hellenic interested in Co-op bank, no bid made yet
Hellenic Bank announced on Friday that it is taking part in the Co-op bank’s process to attract potential investors but has not yet decided on
Finance minister warns against further disruption in co-op bank (updated)
Finance Minister Harris Georgiades warned MPs on Thursday that fresh disruption of the Co-op bank’s operations would likely bring measures from European authorities, which are
Government to address Co-op depositor concerns (updated)
While the finance minister promised action to reassure Cyprus Cooperative Bank depositors who fear they could suffer losses in a possible bail-in, as the lender
Co-op recipient of considerable investor interest (Updated)
By Stelios Orphanides The Cyprus Cooperative Bank said that it received a “considerable number” of applications expressing interest in buying either part of its shareholding
Etyk threatens with strike, says not informed over co-op sale
Bank workers union Etyk is once more threatening with strike action, this time over what it says was the co-operative bank’s failure to inform them
Hellenic Bank posts €45.7m net loss in 2017
Hellenic Bank, the third largest Cypriot lender, said Thursday it had generated an after-tax loss of €45.7m last year, down from a €63.5m loss in