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02 July, 2025
 

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Displaying results 1-30 of 123 matches for query Cooperative bank.

1. Cyprus returns to three systemic banks after Alpha Bank Cyprus-AstroBank deal

https://knews.kathimerini.com.cy/en/business/cyprus-returns-to-three-systemic-banks-after-alpha-bank-cyprus-astrobank-deal

Cyprus is set to have three systemic banks again after Alpha Bank Cyprus signed a final agreement to acquire most of AstroBank’s assets and liabilities. The deal was officially signed Tuesday, June 24, 2025....

2. Christianna Diogenous, Georgios Kazantzis and Joseph Antoniou to speak at the Green Agenda Cyprus Summit

https://knews.kathimerini.com.cy/en/news/christianna-diogenous-georgios-kazantzis-and-joseph-antoniou-to-speak-at-the-green-agenda-cyprus-summit

This year’s Sustainable Development Conference is dedicated to supporting and strengthening Cyprus’ national strategy for a Green Transition....

3. Modernist landmark in Nicosia faces demolition

https://knews.kathimerini.com.cy/en/news/modernist-landmark-in-nicosia-faces-demolition

The demolition of yet another modernist landmark in Cyprus has reignited concerns over the preservation of the island’s architectural heritage. ...

4. Hellenic Bank and employer's union settle long-running dispute

https://knews.kathimerini.com.cy/en/business/hel

Hellenic Bank and Cyprus bank workers' union ETYK have reached an agreement to fully implement their collective agreement, bringing an end to a prolonged dispute that caused uncertainty and disruption at the bank, according to a statement from ETYK....

5. Effort to create new cooperative bank in Cyprus begins with IPO search

https://knews.kathimerini.com.cy/en/news/effort-to-create-new-cooperative-bank-in-cyprus-begins-with-ipo-search

The Cypriot company for the promotion of the cooperative movement is at the process of seeking an investment firm that would underwrite an initial public offering for the creation of a “small cooperative bank” in Cyprus that would replace the Cooperative Cyprus Bank which went into liquidation back in 2018, Panikos Hambas told CNA....

6. Hellenic Bank's profits surge amid higher lending rates

https://knews.kathimerini.com.cy/en/business/hellenic-bank-s-profits-surge-amid-higher-lending-rates

Hellenic Bank, Cyprus’ second-largest lender, has had a strong start to 2024, reporting a net profit of €189 million in the first half of the year—a solid 18% increase from last year. This boost in profit is mainly due to a 30% rise in interest income, driven by higher European Central Bank (ECB) interest rates....

7. KEDIPES hits €1.36B milestone in state aid repayments

https://knews.kathimerini.com.cy/en/news/kedipes-hits-€1-36b-milestone-in-state-aid-repayments

KEDIPES has announced a €60 million cash repayment made on June 26, 2024, as part of its ongoing efforts to repay state aid received by the former......

8. Agency reports strong start to 2024, continues paying off state debt

https://knews.kathimerini.com.cy/en/news/agency-reports-strong-start-to-2024-continues-paying-off-state-debt

KEDIPES, Cyprus' state-owned asset management agency, announced a €144 million cash inflow for the first quarter of 2024. The agency also made a €140 million repayment to the state, bringing the total repayment to €1.3 billion since it started in September 2018....

9. Cyprus non-performing loans drop to lowest level in years

https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-non-performing-loans-drop-to-lowest-level-in-years

Total non-performing loans (NPLs) to banks have dropped below €2 billion, specifically to €1.9 billion. ...

10. Alpha Bank CEO eyes expansion in Romania

https://knews.kathimerini.com.cy/en/business/alpha-bank-ceo-eyes-expansion-in-romania

Alpha Bank chief executive officer Vassilis Psaltis pointed to further expansion and acquisitions in Romania in a joint interview with the CEO of Italian bank UniCredit, Andrea Orcel for Bloomberg....

11. KEDIPES pays state €140M in largest quarterly sum yet

https://knews.kathimerini.com.cy/en/news/kedipes-pays-state-€140m-in-largest-quarterly-sum-yet

In the largest quarterly cash repayment to the state since its inception in 2018, totaling €140 million, the Board of Directors of KEDIPES decided to proceed for the first quarter of 2024. ...

12. KEDIPES successfully sells €58.4M portfolio to reduce debt

https://knews.kathimerini.com.cy/en/business/kedipes-successfully-sells-€58-4m-portfolio-to-reduce-debt

The Cyprus Asset Management Company (KEDIPES) announced Thursday the successful completion of a sale of performing and restructured loan portfolios to Bank of Cyprus Public Company Limited, with a combined gross book value of €58.4 million as of December 31, 2022....

13. Deal in the works for CNP Cyprus

https://knews.kathimerini.com.cy/en/business/deal-in-the-works-for-cnp-cyprus

The subsidiary of the French insurance giant CNP Assurances, CNP Cyprus Insurance Holdings, is currently in discussions for a potential change in ownership. ...

14. ECB VP praises Cyprus' economic turnaround

https://knews.kathimerini.com.cy/en/news/ecb-vp-praises-cyprus-economic-turnaround

ECB Vice-President Luis de Guindos praised Cyprus for its remarkable economic improvement and recent upgrades by two rating agencies during a meeting with Cyprus Central Bank Governor Constatinos Herodotou in Nicosia. The officials emphasized the strengthening collaboration between Cyprus and the ECB....

15. NPL crisis highlights tug of war between borrowers and legislation

https://knews.kathimerini.com.cy/en/business/npl-crisis-highlights-tug-of-war-between-borrowers-and-legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

16. Cyprus emerges as top beneficiary of EIB support in Europe

https://knews.kathimerini.com.cy/en/news/cyprus-emerges-as-top-beneficiary-of-eib-support-in-europe

The European Investment Bank (EIB) President, Werner Hoyer, announced that Cyprus remains the largest beneficiary of EIB support per capita in Europe....

17. Cyprus banks' strict adherence to sanctions worries legitimate entities

https://knews.kathimerini.com.cy/en/business/cyprus-banks-strict-adherence-to-sanctions-worries-legitimate-entities

Banks have become cautious regarding sanctions imposed by the USA, EU, and UK, and they are not willing to take any risk in serving individuals or entities in Cyprus who are subject to sanctions....

18. Finance Minister requests containment of lending rates for housing loans

https://knews.kathimerini.com.cy/en/news/finance-minister-requests-containment-of-lending-rates-for-housing-loans

The Finance Minister of Cyprus, Makis Keravnos, has written letters to the Director General of the Cyprus Banks Association and the Director General of the Association of Credit Acquisition Companies and Credit Facility Managers, requesting measures to control rising lending rates for serviceable loans up to €350,000....

19. FinMin stresses importance of stable legislation for out-of-court auctions

https://knews.kathimerini.com.cy/en/news/finmin-stresses-importance-of-stable-legislation-for-out-of-court-auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....

20. Herodotou calls for increased vigilance to avert private debt defaults

https://knews.kathimerini.com.cy/en/business/herodotou-calls-for-increased-vigilance-to-avert-private-debt-defaults

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....

21. The Belgian wheel is in motion...

https://knews.kathimerini.com.cy/en/comment/opinion/the-belgian-wheel-is-in-motion

Many Cypriots live in a state of frustration. How did Belgian authorities respond decisively to the well-known case, while the island's law enforcement took two weeks to visit Syllouris?...

22. KEDIPES disburses another €80 million to the state

https://knews.kathimerini.com.cy/en/business/kedipes-disburses-another-€80-million-to-the-state

The Board of Directors of the state-owned asset manager, KEDIPES, has decided to disburse another €80 million to state coffers for the fourth quarter of this year, with the amount paid to the state in 2022 reaching €310 million....

23. The consequences of continuing foreclosure suspensions

https://knews.kathimerini.com.cy/en/news/the-consequences-of-continuing-foreclosure-suspensions

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state aid....

24. Cyprus will request EC permission to implement mortage-to-rent scheme

https://knews.kathimerini.com.cy/en/news/cyprus-will-request-ec-permission-to-implement-mortage-to-rent-scheme

Cypriot authorities plan to submit in June an official request to the European Commission for the implementation of a mortgage-to-rent scheme, aiming to address non-performing loans collateralized by primary residences and SME business premises with an estimated contractual value of €3 billion....

25. ECB tells Cyprus lawmakers to get it right

https://knews.kathimerini.com.cy/en/news/ecb-tells-cyprus-lawmakers-to-get-it-right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

26. IMF: Withdrawal of support measures should be gradual

https://knews.kathimerini.com.cy/en/news/imf-withdrawal-of-support-measures-should-be-gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

27. FinMin: Cyprus to reduce debt once pandemic normalises

https://knews.kathimerini.com.cy/en/news/cyprus-to-reduce-debt-once-pandemic-normalises-finmin-says

Cyprus Minister of Finance Constantinos Petrides told the Cyprus News Agency that the government will begin reducing public debt, increased due to strategic cash reserves, once the pandemic begins to normalise....

28. Hellenic Bank sells its most expensive home

https://knews.kathimerini.com.cy/en/business/hellenic-bank-sells-its-most-expensive-home

Hellenic Bank has sold its most expensive home according to a special report, with foreign investors shelling out 3 million for a mansion in Lakatamia...

29. Cyprus enjoys strong growth prospects but contingent liabilities remain

https://knews.kathimerini.com.cy/en/business/cyprus-enjoys-strong-growth-prospects-but-contingent-liabilities-remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

30. Woman gets seven years in white collar crime

https://knews.kathimerini.com.cy/en/news/woman-gets-seven-years-in-white-collar-crime

A former employee at a credit union in eastern Nicosia has been sentenced to seven years in prison for financial crimes worth over half a million...

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