Co-op bank Archives - Cyprus Mail

State-owned company told – again – to come clean over loans to politically exposed persons

George PsyllidesAugust 21, 2019August 21, 2019

By George PsyllidesAugust 21, 2019August 21, 201901205

The attorney-general has reaffirmed the state-owned asset management company’s (Kedipes) obligation to hand over information as part of a probe into the possibility of the

Business

State co-op asset management agency reports €180m in NPL revenues

George PsyllidesJune 5, 2019

By George PsyllidesJune 5, 20190496

The state-owned Cyprus Asset Management Company (Kedipes), established to administer whatever assets were not sold to Hellenic Bank after the Co-op Bank was shuttered, reported

Cyprus

Opposition parties want finance minister’s resignation (Updated)

George PsyllidesApril 12, 2019April 12, 2019

By George PsyllidesApril 12, 2019April 12, 20190116

Following a stormy debate, parliament on Friday passed a resolution by majority vote calling on the finance minister to resign over the demise of the

Cyprus

President stands by Finance Minister in co-op fracas (Update)

George PsyllidesMarch 7, 2019March 7, 2019

By George PsyllidesMarch 7, 2019March 7, 2019056

PRESIDENT Nicos Anastasiades on Thursday evening threw his weight behind his finance minister, dismissing calls for the minister’s removal following a damning report about the

Cyprus

Government admits some co-op properties were sold, defying promises

Elias HazouMarch 7, 2019

By Elias HazouMarch 7, 20190175

THE government on Thursday admitted the sale-for-cash of certain properties belonging to the now-defunct co-operative bank, but also said it has put an end to

Cyprus

Bad loans decline through co-op deal a credit positive, Moody’s says

Staff ReporterJanuary 17, 2019

By Staff ReporterJanuary 17, 20190100

Moody’s rating agency said the decline of non-performing exposures (NPEs) by €5.6bn, or 33.6 per cent, stemming from the resolution of the co-operative bank (CCB)

Cyprus

President passes co-op buck onto CBC chief

Elias HazouDecember 31, 2018January 1, 2019

By Elias HazouDecember 31, 2018January 1, 2019028

President Nicos Anastasiades was not formally or adequately briefed about the situation festering inside the co-operative banking sector before it spiralled out of control, he

Cyprus

Saving co-op might have been less of a tax burden says CBC chief

Elias HazouNovember 15, 2018November 15, 2018

By Elias HazouNovember 15, 2018November 15, 2018049

Though on the brink of collapse, the co-operative bank might well have been salvaged had the state thrown more money at it at the right

Cyprus

AG confirms investigation into former Co-op boss and others

George PsyllidesNovember 14, 2018November 14, 2018

By George PsyllidesNovember 14, 2018November 14, 2018045

Attorney-general Costas Clerides confirmed on Wednesday he had ordered an investigation into the Co-op Bank’s former CEO Nicolas Hadjiyiannis and other senior officials over their

Cyprus

Sale of Co-op to Hellenic was ‘the best solution’ expert says

George PsyllidesOctober 2, 2018October 4, 2018

By George PsyllidesOctober 2, 2018October 4, 2018045

By George Psyllides The sale of certain parts of the co-op bank to Hellenic was the best solution, a professional services official told an inquiry

Cyprus

Lenders call on Cyprus to maintain fiscal discipline and speed up reforms

Source: Cyprus News AgencySeptember 28, 2018

By Source: Cyprus News AgencySeptember 28, 2018039

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

Cyprus

Retired Lymbia residents protest local co-op closure

George PsyllidesSeptember 19, 2018

By George PsyllidesSeptember 19, 2018079

Around 30 mostly retired residents of the village of Lymbia in the Nicosia district protested on Wednesday outside Hellenic Bank HQ over the decision to

Cyprus

Co-op decision difficult, but positive for economy, EU official says

Source: Cyprus News AgencySeptember 14, 2018September 14, 2018

By Source: Cyprus News AgencySeptember 14, 2018September 14, 2018030

The decisions concerning the Cyprus Cooperative Bank (CCB) were difficult for Cyprus but enabled positive developments for the island’s economy, EU Commissioner for Competition Margrethe

Business

Hellenic trying to resolve issue of offset co-op accounts

George PsyllidesSeptember 10, 2018September 10, 2018

By George PsyllidesSeptember 10, 2018September 10, 2018037

Hellenic Bank is trying to resolve the problem created by the co-op bank, which had off set customers’ deposits against loans and other obligations on

Business

Hellenic Bank ready to help fix mess caused by Co-op setoff

Stelios OrphanidesSeptember 4, 2018

By Stelios OrphanidesSeptember 4, 2018041

Hellenic Bank said on Tuesday that while it had no involvement in the reconciliation of loans and deposits at accounts at the Co-op it is

Cyprus

House committee to discuss NPL bills ‘till midnight’ if needed

Evie AndreouJuly 2, 2018July 2, 2018

By Evie AndreouJuly 2, 2018July 2, 201822 29

The House finance committee will hold daily meetings this week, even until midnight, to complete discussion of bills aiming at helping reduce non-performing loans (NPLs)

Cyprus

Clerides puts foot down amid Co-op blame game (Update 2)

George PsyllidesJune 21, 2018June 21, 2018

By George PsyllidesJune 21, 2018June 21, 20186 20

By George Psyllides ATTORNEY-GENERAL Costas Clerides said on Thursday that it is his office which will appoint an independent panel to look into what went

Cyprus

Co-op execs’ footie perks a conflict of interest, auditor says

George PsyllidesJune 15, 2018

By George PsyllidesJune 15, 20185 22

Cytavision, the television branch of state telecoms company CyTA, offered a senior co-op bank executive who also sits on its board, two ticket packages for

Cyprus

Outflows from co-ops have stopped, Georgiades says (updated)

George PsyllidesApril 5, 2018April 5, 2018

By George PsyllidesApril 5, 2018April 5, 201824 32

It appears that deposit outflows from co-op banks have stopped following the government’s action to deposit €2.5bn in the form of bonds, Finance Minister Harris

Cyprus

‘Investment not sale of Co-op’

Elias HazouMarch 20, 2018March 20, 2018

By Elias HazouMarch 20, 2018March 20, 201812 67

The Co-op bank is not being sold off, a search for investors will begin, Finance Minister Harris Georgiades said on Tuesday. “It must be understood