After recap, Co-op to list on stock market in 2017
By Elias Hazou THE finance minister on Thursday issued a decree for the recapitalisation of the Co-operative Central Bank (CCB), which provides for its gradual
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Government recapitalisation plans for co-op angers banks
By Stelios Orphanides The Association of Cyprus Banks opposes government plans to recapitalise bailed out Cooperative Central Bank with a new levy, an official of
Private sector unlikely to recap Greek banks in 2015, bondholder bail-in likely, Moody’s says
By Stelios Orphanides Moody’s Investors Service said that the time remaining for the private sector to participate in the recapitalisation of Greece’s banks is limited
ECB tests show Greek banks have capital shortfall of 14.4 bln euros
Greek banks have a capital shortfall of 14.4 billion euros if the country’s economy deteriorates further than expected, the European Central Bank said on Saturday.
Church to abandon stake in Hellenic Bank
By Angelos Anastasiou THE Church of Cyprus has no interest in participating in Hellenic Bank’s planned capital raising and will be selling the rights that
Former co-op officials sued for fraud
By Angelos Anastasiou THE MANAGEMENT of a cooperative credit institution (CCI) has sued eight former officials for fraudulently funnelling €750,000 from the Cooperative Savings Bank
Greece unlikely to end bailout without new help -senior EU official
Greece is “highly unlikely” to end its euro zone bailout programme without some new form of assistance that will require it to meet targets, a
Greek bank shares drop sharply on ECB stress test fears
Greek bank shares fell sharply on Wednesday, leading the broader Greek equities market lower, with traders citing jitters over the European Central Bank’s region-wide stress
Unfortunately, we have to save inhuman banks
By Loucas Charalambous IT IS FAIR to say that DISY chief Averof Neophytou was right about most of the things he accused the banks of
It’s gonna’ turn nasty
By Hermes Solomon NO BANK can remain in business unless they are permitted to call in unsustainable NPLs to protect depositors and support the bank’s
BoC ‘richer’ with €1.6bn cash buffer
By Staff Reporter DESPITE the near-meltdown of the island’s biggest lender, Bank of Cyprus now seems to be far better capitalised than many of its
Old BoC shareholders plan to sue resolution authority
By Angelos Anastasiou THE association of Bank of Cyprus’ old shareholders, who were wiped out during the bank’s recapitalisation through the conversion of uninsured deposits
BoC roadshows start to reel in €1bn in new investments
By Angelos Anastasiou THE Bank of Cyprus has embarked on a series of roadshows to potential investors, while minority shareholders were blocked out of the
Crunch time for BoC board
By George Psyllides BANK of Cyprus (BoC) is expected to announce an increase in share capital of as much as €1bn today, as current shareholders
Government keeps up pressure on BoC
By Angelos Anastasiou THE BANK OF CYPRUS appeared no closer on Monday to resolving the stalemate caused by the unwillingness of the lender’s board to
Recapitalisation of CDB completed
By Angelos Anastasiou The long-awaited deal between the shareholders of the Cyprus Development Bank (CDB) and a Russian group for the recapitalisation of the lender
Greek Central Bank confirms major banks need EUR6.4 bln
Greece’s central bank said on Thursday that a health check-up of the country’s major banks showed they need 6.4 billion euros ($8.86 billion) in additional
Fitch upgrades the viability ratings of Cypriot banks
Fitch Ratings has affirmed Bank of Cyprus (BoC) and Hellenic Bank (HB) Long-Term Issuer Default Rating (IDR) at ‘Restricted Default’ but has also upgraded their
Co-ops’ recapitalisation deal signed and sealed
By Angelos Anastasiou THE bailout of co-operative credit institutions (CCIs) with €1.5 billion in troika loans was sealed on Friday with the signing of the
Commission approves restructuring of Cypriot co-ops
The European Commission said on Monday it had found recapitalisation and restructuring aid measures in favour of the cooperative banking sector in Cyprus to be