A new reality for borrowers
‘You wouldn’t believe what kind of breaks they used to get from banks’ By Elias Hazou LOAN defaulters expecting more flexibility from debt collection agencies...
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Banks given until Monday to find solution to wrongly offset accounts
By Lizzy Ioannidou IN AN extraordinary meeting on Saturday, the parliamentary audit committee gave the Hellenic Bank and the legacy Co-operative Bank until Monday to...
Capital Intelligence upgrades Cypriot sovereign rating to BB
By Stelios Orphanides Capital Intelligence, the Limassol-based rating company, said that it upgraded Cyprus’ long-term foreign currency rating by a notch to BB, which is still in...
Recent Co-op uncertainty prompts customer flight to BoC
Bank of Cyprus has seen a windfall of new business in the past few months due to the uncertainty that was created at the co-op...
Our View: Hope that Hellenic takeover of Co-op will lead to healthy banking sector
The takeover of the healthy business of the Cyprus Co-operative Bank by Hellenic Bank has changed the island’s banking sector. It has now become a...
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...
A leap towards banking stability, but challenges remain
The summer of 2018 has brought cataclysmic changes to the Cypriot banking system. They ended the operation of the Co-op and compelled the parliament to...
Hellenic Bank’s shareholders approve capital increase
By Stelios Orphanides Hellenic Bank said that its shareholders had on Wednesday passed a €100m capital increase through a rights issue, part of the bank’s agreement...
Co-op executive Stavrinides says his role was advisory
By Stelios Orphanides The head of strategy and communications of the state-owned Co-op Yiannos Stavrinides said that he had an “exclusively advisory” role at the...
Ex official slam Co-op CEO, Altamira deal (Updated)
Former Co-op officials continued to testify on Monday to a special committee probing the bank’s collapse which, they said, was the result of bad corporate governance and...
SEK, PEO Pasydy accept Co-op scheme, slammed by Etyk
By Stelios Orphanides Three unions of the failed state-owned Cyprus Cooperative Bank agreed Thursday to accept the Co-op’s improved voluntary retirement scheme which bank workers’...
Competition watchdog greenlights Co-op deal (Update 2)
Cyprus’ competition watchdog approved Hellenic Bank’s agreement with the Cyprus Cooperative Bank on Wednesday, lifting one more obstacle for the acquisition of the latter’s operations,...
Union talks with Co-op fail to reach a deal
Unions representing workers at the Cyprus Cooperative Bank (CCB) on Thursday failed to reach agreement with the bank’s management over a proposed voluntary exit plan,...
Moody’s says new capital gains tax exemptions to aid banks
By Stelios Orphanides Moody’s Investors Service said that the decision of the Cypriot parliament to also exempt the sale of real estate from the capital...
Hellenic, Co-op engage in business transfer talks
By Stelios Orphanides Hellenic Bank and the Cyprus Cooperative Bank have launched talks aiming at completing the agreed transfer of the latter’s operations by September,...
Moody’s places Hellenic and Co-op on review for upgrade
Moody`s Investors Service has placed on review for upgrade, Hellenic Bank Public Company Ltd`s Caa1 long-term deposit ratings, its caa2 Baseline Credit Assessment (BCA) and adjusted...
Hellenic says parliament put end to insecurity
Hellenic Bank said on Monday that Sunday’s vote at the parliament which paved the way for the completion of the deal with the Co-op...
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)...
Stock suspension lifted after Hellenic, Co-op sign deal
By Stelios Orphanides The Cyprus Stock Exchange said that it lifted the suspension of trading in Hellenic Bank, Demetra Investments and Logicom securities after being...
Union accuses employers of class hate
PEO trade unionist Pambis Kyritsis accused employers’ associations on Saturday of arrogance following their objections to demands of Co-operative Bank employees for compensation of up...