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...
banks
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...
