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...
banks
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...
House finally asks for Central Bank input over MPs’ bad loans
After months of prevarication, MPs on Thursday agreed to invite Central Bank Governor Constantinos Herodotou before the House watchdog committee to inform them about a...
NPEs in Cyprus banks down to €9.7bn in July
Non–Performing Exposures (NPEs) in Cyprus’ banking sector fell €27m to €9.68bn in July 2019, compared with the previous month, according to the latest data released...
Peo union calls on finance minister to pressure banks over new charges
Left-wing umbrella union Peo said on Wednesday it has written a letter to Finance Minister Harris Georgiades calling on him to use everything at his...
Banks need the ability to adapt quickly to survive and prosper
By George Theocharides Recently we experienced fallout between the main banks (BoC, Hellenic Bank) and the union of bank employees (ΕΤΥΚ) that resulted in strikes....
CBC: NPLs may have fallen but they’re still in the economy
While the Central Bank of Cyprus (CBC) was happy to see banks’ exposure to NPLs reduce due to deleveraging, it was not thrilled that these...
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...
Annulment of loan agreements in Swiss francs
By George Coucounis EU law does not preclude the annulment of a loan agreement, including a mortgage loan, in CHF (Swiss francs) if the nature of...
Our View: Bank union resorting to strikes to preserve power
ONLY in our union-dominated country was it possible for a union to call a strike because it wanted the employer to spend less money on...
Bank employees’ unions ‘sending clear message’ with strike action (Updated)
Bank employees’ union Etyk intends to send a clear message to the management of Hellenic Bank by staging a work stoppage on Friday, an announcement...
Deposits in Cyprus banks reach highest level in 11 months, loans historically low
Total deposits in Cyprus banking system reached their highest level in the past 11 months in August 2019, according to figures released by the Central...
Moody’s: Thomas Cook’s liquidation credit negative for Bulgarian, Cypriot and Greek banks
Moody’s rating agency said Thursday that Thomas Cook`s liquidation was credit negative for Bulgarian, Cypriot and Greek banks as tourism would be negatively affected. “On...
Cash bonds to cover foreign workers being ‘held hostage’ in banks
A LAW amendment drafted by Interior Minister Constantinos Petrides which seeks to scrap ‘anachronistic’ bank deposits paid by employers of foreign nationals as a guarantee,...
Securities watchdog warns risk of bogus investment opportunities is high
The Cyprus Securities and Exchange Commission (CySec) on Wednesday warned investors and the public about various risks that could arise during the current period due...
Total new loans down to €249m in July
Τotal new loans given out by Cyprus’ banks fell €90m to €249m in July 2019 compared with June’s €339.1m according to data released by the...
Georgiades reminds borrowers that Estia scheme begins Monday
Finance Minister Harris Georgiades on Sunday urged any homeowners who believe they are eligible for the debt-relief scheme Estia to submit their applications as of...