Non-performing loans fall by €722m in third quarter
The Central Bank of Cyprus (CBC) announced on Friday that the total amount of non-performing loans (NPLs) decreased by €722 million at the end of...
banking
Minister offers advice on minimising bank charges
Finance minister Constantinos Petrides on Tuesday gave advice on how people could minimise the charges they paid for bank services, at the House commerce committee...
A constantly evolving operating environment for banks
New EU banking package 2021: Stronger supervision, sustainability, strengthened resilience By Nicole K Phinopoulou The 2020 pandemic has caused new turmoil and highlighted the ongoing...
Cyprus Business Now
Central Bank of Cyprus governor Constantinos Herodotou said on Monday that he is seeking ways to expedite banks’ client digital onboarding and reviewing processes, with...
Coronavirus pandemic not managed to hold back banking sector
Despite the ongoing Covid pandemic, the Cypriot banking sector has achieved remarkable progress and was steadily headed towards viability, Finance Minister Constantinos Petrides said on...
Applicants withdraw case against 2013 Eurogroup decision
Consequences of the Eurogroup decision on Cyprus cases brought in the European Court of Justice By Nikos Korogiannakis and Antigoni Pafiti Multiple cases, related to the Eurogroup’s...
Offshore Banking – Things To Know
The world is a global village with companies and individuals constantly connecting and working together. Companies are no longer limited with their operations to a...
Nearly 6,000 Cyprus businesses enjoy suspended loan payments in May and June
Cyprus borrowers are being rewarded by not having to pay loan instalments in May and June. A total of 49,043 borrowers applied for a suspension...
Hellenic Bank shows small loss in Q1; analysts say outlook is stable for year
With the announcement of first quarter results on Friday, Hellenic Bank revealed the initial effects of the novel coronavirus crisis, showing a slight loss...
Wirecard scrambles to find missing $2.1 billion as loan crunch looms
Wirecard‘s auditor has refused to sign off its 2019 accounts over a missing $2.1 billion, sending its shares down more than 60% as the German...
Cyprus improving its AML framework but risks remain, US says
Although Cyprus’ financial system is vulnerable to money laundering by domestic and foreign criminals, proceeds generated by illicit activity abroad pose a greater threat, the...
Bank union lashes out at Sek for poaching members
Banking union Etyk complained on Monday that other trade unions were attempting to poach members from them. Etyk was responding to a decision last week...
Economic growth decelerating says EC/ECB report
While Cyprus’ economy remains strong, economic growth is gradually decelerating, according to the findings of a report from European Commission staff and the ECB. The...
Banking on tech: incumbents and challengers
Traditional banks are struggling to keep up with virtual banks like Revolut with no service or transaction fees By Philippe Orphanides Banks have thrived...
‘Dozens of rural communities left without banking services’
MAIN opposition Akel has again highlighted the issue of the ongoing closure of bank branches formerly operated by the Cyprus Cooperative Bank (CCB) and since...
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...
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...
