https://knews.kathimerini.com.cy/en/business/eurobank-moves-for-full-control-of-hellenic-bank-in-major-takeover-push
February is shaping up to be a pivotal month for Hellenic Bank, as key financial moves unfold, including a full takeover bid by major shareholder Eurobank, the completion of key acquisitions, and a voluntary exit plan for employees....
https://knews.kathimerini.com.cy/en/business/nasdaq-listed-freedom-24-is-making-its-mark-in-cyprus-and-beyond
When Timur Turlov, the CEO of Freedom Holding Corp., set his sights on Cyprus, he saw more than just a financial hub—he saw opportunity. In a market where fintech companies are staking their claims, ...
https://knews.kathimerini.com.cy/en/business/cyprus-central-bank-sets-interest-rate-limits-to-protect-consumers
The Central Bank of Cyprus (CBC) has announced that the official reference interest rate will be set at 11.50%. This means that banks and other lenders in Cyprus must not charge higher rates than this when offering loans, extending payment terms, or renewing loans. ...
https://knews.kathimerini.com.cy/en/business/cyprus-ended-2024-with-a-banking-boom-as-loans-and-deposits-surged
Cyprus closed out 2024 with a surge in banking activity, as both loans and deposits saw substantial increases, according to the latest data from the Central Bank of Cyprus (CBC). ...
https://knews.kathimerini.com.cy/en/business/1-uk-bank-closures-could-disrupt-british-expats-in-cyprus
Lloyds Banking Group is shutting 136 more branches across the UK, continuing a long trend of high street bank closures. ...
https://knews.kathimerini.com.cy/en/comment/opinion/it-was-a-low-bar
The Housing Grant Scheme for young couples and individuals up to 41 years of age was launched on 31 October 2024, with a target of 400 beneficiary applications and a total budget of €15 million. ...
https://knews.kathimerini.com.cy/en/business/new-lending-boosted-by-interest-rates-and-government-plans
A favorable landscape for Cypriot borrowers is taking shape in 2025, laying the groundwork for a strong year in new lending....
https://knews.kathimerini.com.cy/en/business/eurobank-sells-€27m-stake-in-demetra-holdings
In a significant financial move, Eurobank announced the completion of the sale of its 8.58% stake in Demetra Holdings Plc to Logicom Services Limited. The deal, finalized on January 16, 2025, involved the sale of 17,152,353 shares at €1.55 per share, totaling approximately €27 million....
https://knews.kathimerini.com.cy/en/comment/opinion/why-are-cypriot-businesses-being-sold-off-to-foreign-interests
Greek businesses have made a significant impact on the Cypriot market, investing across virtually every sector—from real estate and hospitals to supermarkets, toy stores, energy, electronics, car dealerships, and even banks....
https://knews.kathimerini.com.cy/en/news/depositors-affected-by-2013-banking-crisis-to-be-compensated-in-may
Cypriots who lost their savings during the 2013 banking crisis will finally begin receiving compensation this May, according to Finance Minister Makis Keravnos. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-see-€1-billion-in-profits-as-npl-s-decline-in-2024
Cypriot banks reported impressive financial growth in the first nine months of 2024, with total profits reaching €952.5 million after taxes, a sharp rise from €602.92 million by mid-year.
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https://knews.kathimerini.com.cy/en/business/president-s-banking-measures-spark-surge-in-first-home-loans
President Nikos Christodoulides' efforts to support citizens through new banking measures are beginning to yield results. Meetings held in December with the CEOs of Cyprus’ two major banks, Bank of Cyprus (BoC) and Hellenic Bank (HB), appear to have sparked a tangible interest in first-home mortgage schemes....
https://knews.kathimerini.com.cy/en/news/1-ai-to-shake-up-banking-putting-thousands-of-jobs-at-risk
The global banking industry is bracing for a seismic shift as artificial intelligence (AI) continues to revolutionize the sector. A recent study by Bloomberg Intelligence predicts that up to 200,000 jobs in banking will be eliminated over the next three to five years as AI takes over tasks currently performed by employees....
https://knews.kathimerini.com.cy/en/comment/opinion/2025-a-new-chapter-for-cyprus-s-property-market
2024 was both literally and figuratively a leap year. Metaphorically speaking, we anticipated this shift a year ago as we reflected on 2023 and made our predictions for the year ahead....
https://knews.kathimerini.com.cy/en/news/cyprus-increases-interest-rates-on-arrears-and-court-cases-for-2025
Starting January 1, 2025, Cyprus is increasing interest rates related to arrears and court cases, which could affect anyone with overdue debts to the state or those involved in legal disputes....
https://knews.kathimerini.com.cy/en/comment/opinion/maha-kumbh-mela-2025-a-divine-confluence-of-faith-and-modernity
The Maha Kumbh Mela is not merely an event; it is a spiritual phenomenon deeply rooted in India's religious and cultural consciousness....
https://knews.kathimerini.com.cy/en/news/banks-under-fire-how-public-pressure-forced-a-shake-up
Over the past decade, Cypriot banks have paid over €500 million to the state through a special levy known as the ''double tax.''...
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-rolls-out-support-measures-for-vulnerable-groups
After a tense voting session last week, when the bill to tax bank profits narrowly failed to pass in Parliament, the Bank of Cyprus seems to be stepping up with measures aimed at helping vulnerable communities across the island. ...
https://knews.kathimerini.com.cy/en/news/banks-announce-1-interest-rate-reduction
Following the parliamentary approval of the state budget and Tuesday’s meeting at the Presidential Palace with the CEOs of Bank of Cyprus and Hellenic Bank, Finance Minister Makis Keravnos appeared on RIK’s program Challenges on Wednesday evening....
https://knews.kathimerini.com.cy/en/news/how-assad-s-regime-stashed-millions-while-syria-crumbled
It turns out, while Syria was crumbling under war and sanctions, Bashar al-Assad’s regime was quietly flying millions in cash to Moscow....
https://knews.kathimerini.com.cy/en/comment/opinion/cypriot-mp-s-take-a-break-from-banking-on-reform
Yesterday, we witnessed one of the most evenly matched votes ever held in the Cyprus Parliament. MPs were called to vote on the proposal from AKEL for a one-off tax on bank profits....
https://knews.kathimerini.com.cy/en/business/parliament-rejects-akel-s-5-bank-tax-bill-after-tense-showdown
A dramatic session in parliament ended with the rejection of a contentious proposal by the opposition party AKEL, which aimed to impose an extraordinary 5% solidarity tax on bank interest income for 2024 and 2025. ...
https://knews.kathimerini.com.cy/en/news/mps-set-to-vote-on-over-100-bills-today-including-5-tax-on-banks-and-car-recalls
In today's last plenary session before the Christmas holidays, Cypriot MPs will vote on over 100 bills and legislative proposals, with attention focusing on several high-profile issues....
https://knews.kathimerini.com.cy/en/news/a-helping-hand-or-a-family-plan
The government unveiled a plan a month ago aimed at boosting the purchasing power of young people to meet their housing needs. ...
https://knews.kathimerini.com.cy/en/business/moody-s-nick-hill-on-financial-risks-and-opportunities-for-2025
In an insightful conversation with Kathimerini's Panayiotis Rougalas, Nick Hill discusses the key macroeconomic risks and opportunities facing the region in 2025....
https://knews.kathimerini.com.cy/en/news/government-launches-mortgage-subsidy-to-ease-inflation-s-grip
The government of Cyprus is stepping up to help homeowners struggling with rising interest rates and inflation....
https://knews.kathimerini.com.cy/en/business/money-transfers-in-10-seconds-coming-to-cyprus
Starting on January 9, 2025, Cyprus will join the rest of the SEPA zone (33 countries) in offering instant bank transfers, revolutionizing how payments are made....
https://knews.kathimerini.com.cy/en/news/the-banker-bank-of-cyprus-wins-bank-of-the-year-award-again-for-2024
The Banker, one of the leading international publications focused on banking and finance, has named Bank of Cyprus the Bank of the Year in Cyprus in its 2024 awards....
https://knews.kathimerini.com.cy/en/business/geopolitical-pressures-threaten-2025-recovery
Speaking at the 20th Economist Conference in Nicosia, Nick Hill highlighted the macroeconomic and geopolitical challenges shaping the global financial environment....
https://knews.kathimerini.com.cy/en/business/cyprus-parliament-approves-limit-on-large-cash-transactions
Cyprus lawmakers have taken a significant step in tackling money laundering and illegal activities by approving a proposal to limit large cash transactions....