State co-op asset management agency reports €180m in NPL revenues
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
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Co-op bank
Opposition parties want finance minister’s resignation (Updated)
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
President stands by Finance Minister in co-op fracas (Update)
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
Government admits some co-op properties were sold, defying promises
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
Bad loans decline through co-op deal a credit positive, Moody’s says
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)
President passes co-op buck onto CBC chief
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
Saving co-op might have been less of a tax burden says CBC chief
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
AG confirms investigation into former Co-op boss and others
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
Sale of Co-op to Hellenic was ‘the best solution’ expert says
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
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
Retired Lymbia residents protest local co-op closure
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
Co-op decision difficult, but positive for economy, EU official says
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
Hellenic trying to resolve issue of offset co-op accounts
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
Hellenic Bank ready to help fix mess caused by Co-op setoff
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
House committee to discuss NPL bills ‘till midnight’ if needed
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)
Clerides puts foot down amid Co-op blame game (Update 2)
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
Co-op execs’ footie perks a conflict of interest, auditor says
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
Outflows from co-ops have stopped, Georgiades says (updated)
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
‘Investment not sale of Co-op’
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
AG asked cabinet to reconsider Co-op stock donation, auditor says
The Auditor-general’s office said that it asked for the revocation of the cabinet’s May 2017 decision to donate a quarter of a state-owned bank stock
