FINANCE

Trade unions endorse VRS for 900 employees in the CCB

Trade unions endorse VRS for 900 employees in the CCB

Trade Unions PEO, SEK and PASYDY endorsed on Thursday a voluntary retirement scheme (VRS) for 900 employees of the state-owned Cyprus Cooperative Bank (CCB) in the context of a deal for the transfe [...]

Hellenic Bank: CPC gives green light for the acquisition

Hellenic Bank announced that it has received clearance of the Acquisition by the Commission for the Protection of Competition (“CPC”) of the Republic of Cyprus. According to a statement, on 24 J [...]

FinMin: Assures of government's commitment to balanced budget

Minister of Finance Harris Georgiades has assured the leadership of the Fiscal Council of the government`s firm commitment to balanced budgets and the avoidance of any fiscal deficits.The Minister he [...]

Moody’s: Cyprus broadens capital-gains tax waiver, a credit positive for banks

Rating agency Moody’s says in its weekly “Credit Outlook” that extension of the government’s waiver of the 20% capital- gains tax to all properties sold when proceeds are used to repay proble [...]

Government announced bond issuance through private placement

The Public Debt Management Office has announced the issuance of 5 government bonds for a total nominal amount of €3,19 billion maturing between 5 to 53 months with private placement towards the Cyp [...]

Moody’s: Sale of Bank of Cyprus UK is credit positive

Rating Agency, Moody’s, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on r [...]

Fitch: Hellenic’s acquisition of CCB “positive” for its credit profile

Fitch Ratings has placed Hellenic Bank ‘s Long-Term Issuer Default Rating (IDR) of `B` and Viability Rating (VR) of `b` on Rating Watch Positive (RWP), following the announcement on June 25, that t [...]

CBC says Co-op worst case scenario theoretical amid bank run

On Friday, customers were queuing inside and outside Co-op branches leading to an increase in withdrawals, sources familiar with the matter said. In the first three months of the year, the Co-ops saw [...]

Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms. According to Kathimeri [...]

Probe into Cooperative Bank to examine both pre and post 2013 period

The probe which the government has requested into the Cyprus Cooperative Bank will look into matters before and after 2013, President Nicos Anastasiades said on Thursday. In statements before a lunc [...]

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