Our View: We need a justice system that can deal with white-collar crime
The 10 defendants implicated in a loans scandal at the Strovolos Cooperative Bank were cleared of all charges by the Nicosia criminal court on Thursday....
Cooperative Central Bank
Ex Co-op execs say probe panelist had conflict of interest
THREE former senior officials with the Cyprus Cooperative Bank (CCB) are taking legal action seeking to have the entire investigation into the bank’s demise declared...
Coop appoints Citigroup to coordinate capital increase
The state-owned Cyprus Cooperative Bank said that it selected US lender Citigroup to act as global coordinator in its planned capital increase, which is part...
Co-op announces deal with Spanish NPL manager Altamira
The state-owned Cooperative Central Bank said that it entered an agreement with Spain’s Altamira Asset Management SS to set up a joint unit to which...
“Co-op IPO success depends on speedy NPL drop”
By Stelios Orphanides The state-owned Cooperative Central Bank (CCB) needs to reduce its stock of delinquent loans substantially, over the next months, in order to...
Co-op workers to decide on possible labour action over pay
Workers at the state-owned Cooperative Central Bank will vote next week to decide whether they will take industrial action after the lender rejected their demands,...
Co-op stock donation to have a fiscal impact, treasury says (updated)
The handover of 25 per cent of Cooperative Central Bank stock to its depositors and borrowers, which the government decided on May 31, may...
ECB issues NPL guideline, asks banks, governments to take more action (updated)
The European Central Bank (ECB) said that it issued a new guidance to euro area banks outlining measures and processes to effectively tackle non-performing loans,...
Government buys back debt maturing in 2019 worth €300m
The government bought back in December outstanding government development stock maturing in July 2019 worth €300m held by a “domestic investor,” a finance ministry source...
Cypriot banks in the process of becoming bad banks, economist says
As Cypriot banks are struggling to deal with their heap of bad loans largely via loan-to-land swaps, they may face additional challenges in the future,...
