State aid: Commission approves Cypriot “ESTIA” scheme

State aid: Commission approves Cypriot “ESTIA” scheme

The European Commission has approved under EU State aid rules the Cypriot “ESTIA” scheme to support private households and micro-companies that have encountered difficulties in repaying mortgage [...]

Economic sentiment up in November

Economic sentiment improved in Cyprus in November due mainly to services and retail trade.In particular, the Economic Sentiment Indicator (ESI) which is compiled by the University of Cyprus Economic [...]

DBRS upgraded Cyprus’ economy to investment grade

DBRS Ratings Limited (DBRS), in a Friday’s report, upgraded the Republic of Cyprus’s Long-Term Foreign and Local Currency – Issuer Ratings from BB to BBB (low) and its Short-Term Foreign and Lo [...]

FinMin: Practices of maintaining large non-EU deposits and shell companies are over

The practices of maintaining large deposits by non-EU citizens accompanied with shell companies (companies with no physical presence) are finished, Cyprus Minister of Finance Harris Georgiades has sa [...]

RCB Bank Named Safest Bank in Cyprus for Third Consecutive Year

RCB Bank for the third consecutive year has won the prestigious “Safest Bank in Cyprus” award by the internationally renowned Global Finance magazine. In its exclusive annual survey, which serves [...]

Unions ‘only stone not upturned’ by banks

After tackling non-performing loans, the volume of which he believes will go down very fast in the next year, unions are “the only stone not upturned”, Hellenic Bank CEO Yiannis Matsis told the 14 [...]

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 [...]

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