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12° Nicosia,
07 February, 2025
 

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Displaying results 1-30 of 291 matches for query Deposits.

1. Cyprus' energy landscape shifts as ENI, Total, and Kogas withdraw from blocks

https://knews.kathimerini.com.cy/en/business/cyprus-energy-landscape-shifts-as-eni-total-and-kogas-withdraw-from-blocks

The energy landscape of Cyprus' exclusive economic zone (EEZ) is set for a major shift as the French-Italian-Korean consortium of Total, ENI, and Kogas prepares to exit Blocks 2, 3, and 9 at the end of January....

2. Cyprus ends gas exploration in blocks 2, 3, and 9 after unsuccessful results

https://knews.kathimerini.com.cy/en/news/cyprus-ends-gas-exploration-in-blocks-2-3-and-9-after-unsuccessful-results

The exploitation licences in blocks 2, 3 and 9 of the Cyprus Exclusive Economic Zone (EEZ) have expired and have not been renewed, as the exploration did not show exploitable natural gas deposits, Minister of Energy, Trade and Industry George Papanastasiou confirmed to the Cyprus News Agency (CYPE)....

3. Cyprus ended 2024 with a banking boom as loans and deposits surged

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). ...

4. ExxonMobil to begin drilling in Cyprus’ EEZ in January 2025

https://knews.kathimerini.com.cy/en/news/exxonmobil-to-begin-drilling-in-cyprus-eez-in-january-2025

ExxonMobil’s drilling rig is set to begin operations in Cyprus’ Exclusive Economic Zone (EEZ) in mid-January 2025, according to Energy Minister George Papanastasiou. The rig will target the "Electra" site in Block 5, with the drilling process expected to last approximately one month....

5. December Newsletter of K. Treppides & Co Ltd - 13/12/2024

https://knews.kathimerini.com.cy/en/business/december-newsletter-of-k-treppides-co-ltd-13-12-2024

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries. ...

6. Business loans on the rise in Cyprus, but consumer borrowing takes a hit

https://knews.kathimerini.com.cy/en/business/business-loans-on-the-rise-in-cyprus-but-consumer-borrowing-takes-a-hit

Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...

7.  Debate intensifies over proposed 5% tax on bank profits in Cyprus

https://knews.kathimerini.com.cy/en/news/debate-intensifies-over-proposed-5-tax-on-bank-profits-in-cyprus

According to a report by Panayiotis Rougalas in today's 'Oikonomiki', a controversial proposal to introduce a 5% tax on bank profits in Cyprus is racing against time to be debated in Parliament before the Christmas recess....

8. Intrakat’s €1 million debt to Cypriot subcontractors sparks legal action

https://knews.kathimerini.com.cy/en/business/intrakat-s-€1-million-debt-to-cypriot-subcontractors-sparks-legal-action

Greek-owned construction company Intrakat, which was contracted to build part of the Paphos-Polis Chrysochous motorway in Cyprus, is facing significant financial troubles, leaving behind nearly €1 million in debts to seven local subcontractors and suppliers....

9. Cybersecurity and ICT risks emerge as leading drivers of operational risk

https://knews.kathimerini.com.cy/en/business/cybersecurity-and-ict-risks-emerge-as-leading-drivers-of-operational-risk

Geopolitical tensions have significantly increased operational risks, particularly in the areas of cyber and digital threats, as well as risks related to money laundering and sanctions compliance....

10. Bank of Cyprus reports €401 million profit surge

https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-reports-€401-million-profit-surge

In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...

11. Hellenic Bank reports €284.4M profit for 2024

https://knews.kathimerini.com.cy/en/business/hellenic-bank-reports-€284-4m-profit-for-2024

Hellenic Bank reported a profit of €284.4 million for the first nine months of 2024, up from €240.7 million in the same period last year....

12. Cyprus faces financial imbalance as assets fall short of liabilities

https://knews.kathimerini.com.cy/en/business/cyprus-faces-financial-imbalance-as-assets-fall-short-of-liabilities

As of December 2023, Cyprus' economy is navigating a complex financial landscape, with total assets in financial instruments reaching €869 billion. However, the country also faces a notable financial shortfall, with liabilities exceeding assets by about €29 billion....

13. 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....

14. Bank profits in crosshairs as tax talks heat up

https://knews.kathimerini.com.cy/en/news/bank-profits-in-crosshairs-as-tax-talks-heat-up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

15. Cyprus investment funds grow to €9.4 billion in 2024

https://knews.kathimerini.com.cy/en/business/cyprus-investment-funds-grow-to-€9-4-billion-in-2024

Investment companies in Cyprus collectively manage assets worth €9.4 billion, with the amount growing by about 2.9% in the second quarter of 2024 but still below last year's figures....

16. CBC: Top savings interest rate in Cyprus hits 2.45%

https://knews.kathimerini.com.cy/en/news/cbc-top-savings-interest-rate-in-cyprus-hits-2-45

In August 2024, the Central Bank of Cyprus reported that the highest interest rate for term deposits of up to one year for households reached 2.45%. ...

17. Cyprus banks hike mortgage rates as new loans drop by a third in August

https://knews.kathimerini.com.cy/en/news/cyprus-banks-hike-mortgage-rates-as-new-loans-drop-by-a-third-in-august

Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....

18. Cyprus banks have €28.7 billion in cash and liquidity

https://knews.kathimerini.com.cy/en/news/cyprus-banks-have-€28-7-billion-in-cash-and-liquidity

The amount of liquidity in Cyprus's banking system rose to €28.7 billion in August 2024, according to the Central Bank of Cyprus (CBC). This increase was fueled by a growth in deposits alongside a decline in loans....

19. Cyprus sees higher borrowing costs, lower deposit rates in July

https://knews.kathimerini.com.cy/en/news/cyprus-sees-higher-borrowing-costs-lower-deposit-rates-in-july

Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....

20. Ancient Cypriot settlement reveals child burial and early metallurgy

https://knews.kathimerini.com.cy/en/news/ancient-cypriot-settlement-reveals-child-burial-and-early-metallurgy

Excavations at the ancient Chalcolithic settlement of Chlorakas-Palloures in Cyprus have unveiled remarkable insights into life on the island 5,000 years ago,...

21. 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....

22. Cyprus banks report €164.7 million deposit increase in July

https://knews.kathimerini.com.cy/en/news/cyprus-banks-report-€164-7-million-deposit-increase-in-july

Total deposits in Cyprus’ banks recorded a net increase of €164.7 million in July 2024, compared with a net decrease of €44.1 million in June 2024, according to figures released on Wednesday by the Central Bank of Cyprus (CBC)....

23. Suez Canal blockage and South China sea clashes threaten global trade

https://knews.kathimerini.com.cy/en/news/suez-canal-blockage-and-south-china-sea-clashes-threaten-global-trade

Although the pandemic-induced disruptions in global supply chains have eased and water flow in the Panama Canal has improved, new threats to international trade have emerged....

24. Bank of Cyprus sees 23% profit growth, raises financial targets

https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-sees-23-profit-growth-raises-financial-targets

The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...

25. Cypriot banks show resilience amid challenges, says CBC Governor

https://knews.kathimerini.com.cy/en/business/cypriot-banks-show-resilience-amid-challenges-reports-central-bank-governor

Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...

26. Eurobank Cyprus reports €105.7M net profit for H1 2024

https://knews.kathimerini.com.cy/en/news/eurobank-cyprus-reports-€105-7m-net-profit-for-h1-2024

Eurobank Cyprus reported a net profit of €105.7 million for the first half of 2024, marking a 16% increase, or €14.9 million, compared to the same period in 2023....

27. Cyprus sees significant uptick in new loans

https://knews.kathimerini.com.cy/en/news/cyprus-sees-significant-uptick-in-new-loans

In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....

28. The Economist: 'The division of Cyprus looks indefinite'

https://knews.kathimerini.com.cy/en/news/the-economist-the-division-of-cyprus-looks-indefinite

As Cyprus marks the 50th anniversary of its division, a resolution to the longstanding conflict remains elusive. Despite decades of diplomatic efforts, the island remains split between its Greek south and Turkish north, with the status quo appearing increasingly permanent....

29. Surge in corporate loans despite interest rate hike

https://knews.kathimerini.com.cy/en/business/surge-in-corporate-loans-despite-interest-rate-hike

The Central Bank of Cyprus has released its latest data revealing notable shifts in financial trends for May 2024. Despite a 0.52% uptick in lending rates for non-financial corporations borrowing amounts over €1 million, new loans to these entities surged by 10% compared to the previous month. ...

30. ECB concerned over Cypriot bank profit tax proposal

https://knews.kathimerini.com.cy/en/news/ecb-concerned-over-cypriot-bank-profit-tax-proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

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