Hellenic agrees to reimburse former co-op employees
Hellenic Bank announced on Wednesday that it will raise the wages of former Co-op bank employees who work for them, following a 2014 cut, which...
co-ops
Outside experts will scrutinise PEPs’ bad debts
Parliament decided Wednesday to hire outside experts to audit two lists with the names of politically exposed persons (PEPs) with bad debts in commercial banks...
Akel calls for probe into ‘illegal’ sale of former co-op assets
Main opposition party Akel is calling for an investigation into the apparent selling off of assets of the legacy Cyprus Cooperative Bank to entities in...
Arrests for co-op loans with collateral from imaginary people
A businesswoman and three employees of a former co-op in eastern Limassol were arrested on Wednesday in connection with loans amounting to over €800,000 given...
‘Not even God himself’ could remove political parties from co-ops (Updated)
By George Psyllides NOT even God himself could remove political parties from co-op banks, former minister Nicos Rolandis said on Friday, describing the sector as...
Rural residents to protest over local co-op closures
By Evie Andreou Several rural communities have started to protest over the decision to close their local co-op branches, including Xylofagou and Lymbia. The closing...
Hellenic officially takes over Co-op operations (Updated)
Hellenic Bank on Monday officially took control of the operations of the state-owned Cyprus Cooperative Bank (CCB), with officials saying the transition went without a...
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...
State’s €2.5bn for co-op ‘allays depositor fears’
The government’s action to deposit €2.5bn at the co-op bank reassures customers not to worry about their money, its spokesman said on Wednesday. “This huge...
Government to address Co-op depositor concerns (updated)
While the finance minister promised action to reassure Cyprus Cooperative Bank depositors who fear they could suffer losses in a possible bail-in, as the lender...
