Coronavirus: almost €900m in loan installments in abeyance, due at year’s end
Some €894m worth of instalments will not be paid to banks until the end of the year on close to €7.4bn in loans, as part...
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E-signatures on the way, innovation minister says
After years of dragging its feet and now forced by the coronavirus crisis to implement e-government as soon as possible, the government will soon be...
Coronavirus: applications to suspend loans reach 50,000, worth €10bn, Petrides says
Requests to suspend loans under the government measures have reached 50,000 amounting to €10 billion, Finance Minister Constantinos Petrides said on Friday. In a post...
Coronavirus: over 40,000 applications for loan suspension at two main banks
Borrowers at Bank of Cyprus and Hellenic have filed over 40,000 applications for instalment suspension until the end of the year. To date, Bank of...
CBC releases further €90m to support economy
The central bank (CBC) said Friday it has released a further €90m that could be used to support the economy by pushing back a deadline...
Audit boss calls for checks and balances on bank-loan guarantees
The Audit Office on Thursday called for stronger checks and balances for where the state will be guaranteeing bank loans of up to €2 billion,...
Fitch says risks from Covid-19 to Cyprus banks ‘skewed to the downside’
Fitch ratings agency has downgraded Hellenic Bank’s long-term Issuer default rating (IDR) to ‘B’ from ‘B+’ and Viability Rating (VR) to ‘b’ from ‘b+’ and...
Coronavirus: applications for loan suspensions reach 23,000
The number of loan applications for suspension of payments for the next nine months at the island’s two largest banks has risen to 23,000, CNA...
Coronavirus: Petrides welcomes decision by banks to forego compound interest on suspended loans
Finance Minister Constantinos Petrides on Friday welcomed the announcement by the banks’ association (ACB) that they would not charge compound interest on the deferred interest...
Coronavirus: Bank union calls for measures to protect employees
The union of bank employees, Etyk, on Tuesday called on lenders to launch procedures so that the beneficiaries of government assistance programmes to mitigate the...
CBC governor says banks not expected to charge compound interest on deferred loans (updated)
The central bank (CBC) governor said on Tuesday he expected banks not to charge compound interest on the deferred interest accrued after parliament passed a...
One of two outstanding economy bills passed, vote on second postponed (Updated)
The bill allowing for suspension of loan repayments and interest for natural persons and businesses was passed by parliament on Sunday. A vote on a...
Our View: Success of rescue package depends on length of lockdown
NOTHING unites our parties and politicians like the mission to spend the taxpayer’s money ostensibly to improve to improve people’s lives. This unity and spirit...
Measures will reduce impact of Covid-19 on banks says Moody’s
A government financial support package is expected to help limit coronavirus-related impact on banks’ asset quality, Moody’s ratings agency has said. The financial support package...
Bank workers union says cash should be ‘laundered’
Bank workers union Etyk has asked the central bank to shut branches for two days to give time for measures to be put in place...
Banks urged by ECB to activate business continuity plans
Preventive measures and business continuity plans were activated in Cypriot banks after the detection of confirmed cases of coronavirus in Cyprus, it was reported on...
Deposits and loans decrease in January 2020
There was a general decline in the number of deposits and loans during the first month of 2020 compared with the previous month, according to...
Banks must keep adapting to fast-paced digital era, Syllouris says
The attractiveness of Cyprus for investors, for its workforce, financial apps companies and their customers must constantly adapt in order to be maintained, House President...
Our View: Time Competition Commission stepped in over bank attitudes
The European Commission and the European Central Bank champion the market economy and competition but some of their directives have had the effect of stifling...
Banks need to step up efforts to tackle NPLs, CBC boss says
Central Bank of Cyprus (CBC) Governor Constantinos Herodotou called on Cypriot banks to step up their efforts to further reduce non-performing loans (NPL) as the...
