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FINANCE

Cyprus bond achieves the best borrowing rate

Cyprus bond achieves the best borrowing rate

The Cyprus ten-year bond issued on Tuesdayrepresents the lowest reoffer yield and the lowest coupon that the country has ever achieved in international capital markets for a benchmark size euro-deno [...]

Hellenic Bank: €35m net profit in first half of 2018

Hellenic Bank posted a €35 million net profit for the first half of 2018, with the bank’s CEO Ioannis Matsis stating that the bank is ready to launch a tender for the sale of a portfolio of non-p [...]

Hellenic Bank shareholders approved capital raise

The shareholders of the Hellenic Bank approved Wednesday an equity capital increase of €150 mn required to complete the acquisition of Co-op bank assets.Chairman of the Board of Directors Yussef Na [...]

Around 1000 bank employees opt for Co-op voluntary retirement scheme

Around 1000 bank employees have opted to take the voluntary retirement scheme offered by the Cyprus Cooperative Bank, according to trade union estimations, while the deadline ends today at 15.00 loca [...]

Investment funds and their assets increase

Τhe number of investment funds increased to 130 in June 2018, compared with 123 in March 2018, a press release issued by the Central Bank of Cyprus has said. The Bank released on Monday the invest [...]

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 [...]