Ratings agency confirms Cyprus standing
German-based ratings agency Scope has affirmed Cyprus’ BBB- sovereign rating with a stable outlook citing the island’s continued economic recovery and fiscal consolidation as well...
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Kedipes ‘stalling’ probe into loans held by PEPs (update)
THE state-owned asset management company (Kedipes) appears to be stonewalling a probe into the possibility of the co-op bank affording favourable treatment to politically exposed...
First steps taken in Estia debt relief scheme
The first steps have been taken to roll out the Estia debt relief scheme, although applications for the programme will not start until early September....
Edek proposes freezing all foreclosures
SOCIALIST Edek plans to table a legislative proposal freezing all repossessions by banks, ostensibly to protect vulnerable homeowners, despite assurances from the banking sector that...
Public’s trust in institutions being eroded, president says (Update 3)
The public’s trust in institutions is being eroded, President Nicos Anastasiades said on Thursday evening when asked to comment on media reveals that two veteran...
The message for BoC’s ‘Helixed’ customers
By Demetris Theodorou A LATE-NIGHT announcement by Bank of Cyprus last Tuesday threw a good deal of light on the goings on in the bank’s...
Bank of Cyprus offloads more non-performing loans
Bank of Cyprus has recently sold non-performing exposures worth €33.7m to distressed debt manager APS, which is also handling Hellenic Bank’s portfolio of bad debts....
Cyprus records largest decrease in NPLs
Cyprus recorded the largest decrease among EU countries in Non-Performing Loans (NPLs) between June 2017 and June 2018, according to a report by the European...
Estia green light from Brussels, not considered ‘state aid’
The European Commission on Monday approved, under EU state aid rules, Cyprus’ controversial Estia scheme to support private households and small businesses that have...
Households and businesses still most indebted economic sectors
Cypriot households and businesses outside the finance sector continue to be the most indebted sectors of the economy, the Central Bank said in a report...
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...
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...
With NPL laws in place, Georgiades ready to resign over Co-op
Finance Minister Harris Georgiades said that he offered President Nicos Anastasiades his resignation days ago after opposition politicians asked for the assumption of the political...
Our View: Loan defaulters the only winners from Estia
If it was meant as a joke, we could all have had a good laugh and commended the government for having a sense of humour....
Diko takes shots at government about banking crisis
Diko chairman Nicholas Papadopoulos took shots at the government on Tuesday saying those calling Cyprus a success story are now asking for help to deal...
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)...
Georgiades says pressure intense to reform NPL laws
The finance minister said that Cyprus is under ‘intense pressure’ created by an increasingly strict banking supervisory framework to once more modernise its insolvency and...
The Case for NPLs Strategisation
A. Where are we? When Cyprus was embarking upon its journey into the unknown territory of elevated NPLs and excessive private debt along with banking...
CEO says regulator forced Co-op into Altamira, Citi deals
By Stelios Orphanides The chief executive officer (CEO) of the Cyprus Cooperative Bank Nicholas Hadjiyiannis has said the bank was compelled by European regulators to...
Government stresses need to solve problem of NPLs
Government Spokesman Prodromos Prodromou stressed the need for a solution to the problem of Non-Performing Loans in Cyprus on Sunday. He was replying to questions...
