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301. Bank deposits climb to a nine-year high

Deposits in the Cypriot banking system climbed to a nine-year high in September, while total loans continued their downward path, declining in a five-month low, boosting liquidity in the system to over €23 billion....

302. October Newsletter of K. Treppides & Co Ltd: European Banking Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

303. Banking sector to cut 600 more employees

The number of employees in the Cypriot banking sector will have been reduced further by the end of 2022. By the end of this year, 600 bank employees will have left the company, while about 50 will have been transferred to a similar but non-banking sector....

304. How much loan can a couple with an income of €2,000 get?

Housing loans are an issue that inevitably affects a large number of young couples. Because housing prices have skyrocketed while wages have remained stagnant, the need for housing leads to borrowing....

305. The future of the banking sector is digital, green and social

The future of the banking sector is digital, green and social, said the participants at the 3rd online FMW Conference, titled "Banking System: New Challenges and Opportunities". The Conference also highlighted the contrast between trying to tame inflation by raising interest rates and supporting vulnerable groups to avoid social unrest....

306. The heart of the ECB beats in Cyprus

The second consecutive visit of European Central Bank President Christine Lagarde in 2022 is certainly semantic. Apart from the visibility of Cyprus being the first visit by Central Bank Governors as part of the decision to visit a country on an annual basis to hold one of their meetings, two other readings emerge....

307. UN's Stewart: The option of a mutually agreed solution is fading

"I am extremely concerned that the option of a mutually agreed settlement of the Cyprus problem, i.e. a formula for the reunification of the island acceptable to both sides, is fading and will not be available for much longer", UN Secretary General's Special Representative for Cyprus Colin Stewart says....

308. Finance Minister calls for prudency to safeguard economy

Cypriot Minister of Finance Constantinos Petrides, stressed on Wednesday evening the need to be “even more careful” with the fiscal discipline in the new challenging era, while Central Bank Governor Constantinos Herodotou referred to the risk of new NPLs due to the challenging economic conditions....

309. Crucial countdown as Cyprus moves to block Lone Star

Private equity firm Lone Star has until Friday to submit a binding offer to buy the Bank of Cyprus, but the island’s largest financial institution could be out of reach as the House is expected one day earlier to vote on a bill that would authorize the government to block a hostile takeover on security grounds...

310. ECOMMBX celebrates its 5th birthday with its new partner CITI

On 22 September, ECOMMBX, a progressive Electronic Money Institution in Cyprus, celebrated its 5th year in business. ...

311. ECOMMBX opens new horizons enabled by its new banking agreement with Citi

ECOMMBX, a progressive Electronic Money Institution based in Nicosia, proudly announces that it has concluded a correspondent banking agreement with Citi, the world’s most global bank. This new collaboration delivers a range of benefits for both ECOMMBX as well as Cyprus, as a jurisdiction....

312. Two Turkish banks suspend Russian Mir payments after U.S. sanctions

Turkish lenders Isbank and Denizbank have suspended the use of the Russian payment system Mir, the banks said on Monday, following a U.S. crackdown on those accused of helping Moscow skirt sanctions over the war in Ukraine....

313. Woman forcibly takes savings from Beirut bank using toy gun (video)

A woman accompanied by activists and brandishing what she said was a toy pistol broke into a Beirut bank branch on Wednesday, taking $13,000 from her trapped savings....

314. September Newsletter of K. Treppides & Co Ltd : European Banking Authority

A new issue is out from the newsletter by Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

315. Major banks across Europe turning off hot water and preparing diesel generators

Major banks across Europe are implementing measures in the workplace to cut down on energy consumption as Russia tightens its gas supply to the continent....

316. Cyprus scrambles to block hostile bank takeover

The government in the Republic of Cyprus is racing against the clock to arm itself with legal tools to prevent a takeover of the country’s biggest bank by an American private equity firm, which has until next month to submit a final offer that some shareholders may find hard to resist...

317. President signs controversial foreclosure law

A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...

318. Cyprus tourism rebounds despite lack of Russian tourists

Beside sparkling Mediterranean waters at the Cypriot resort town of Ayia Napa, the bars are bouncing with foam dance parties as tourist numbers rebound following two tough years of the pandemic....

319. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

320. ECOMMBX earns Great Place to Work® Certification

ECOMMBX is proud to announce that it has earned the coveted Great Place to Work® Certification with flying score, which is likely to be among the top – if not the highest – scores for this year....

321. ECOMMBX receives the prestigious Ιnvest Cyprus International Investment Award

On 1 July 2022, at the 10th Ιnvest Cyprus International Investment Awards ceremony at the Parklane Spa & Resort in Limassol, under the auspices of the President of the Republic, Nicos Anastasiades. ...

322. Bank of Cyprus Drives Sustainable Digital Innovation in Financial Services with Kyndryl

Kyndryl, the world's largest IT infrastructure services provider and Bank of Cyprus, the leading banking and financial services group in Cyprus, announced an agreement to expand their collaboration with a new five-year managed IT services program that advances the Bank’s ESG commitments through 2030, by supporting the Bank’s levels of service, giving access and visibility to its products to all stakeholders....

323. RCB finalizes sale of its loan portfolio to Hellenic

RCB Bank Ltd announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank Public Company Ltd has been successfully completed....

324. The dilemmas of war and pandemic

Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely. ...

325. EY announces 4 new Partners in Cyprus and welcomes new Head of Consulting

EY Cyprus Country Managing Partner, Ronald Attard, has welcomed the announcement of 4 new partners to the Cyprus practice....

326. Cyprus looks to become global crypto hub with new bill

Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies....

327. CBC: Cryptocurrencies are a potential risk to the economy

Losing 26% of its value in the last month, Bitcoin and other cryptocurrencies are in danger of dragging the "real economy" with their unpredictable fluctuations....

328. Lebanese banks in Cyprus to shut down amid the country's financial crisis

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....

329. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

330. Bank of Cyprus to reduce its employees by 500 in 2022