https://knews.kathimerini.com.cy/en/news/cypriots-saving-less-as-loan-numbers-fluctuate
In January 2024, the total deposits in Cyprus reached €51.9 billion, experiencing a net decrease of €366.0 million compared to the previous month....
https://knews.kathimerini.com.cy/en/news/us-lander-lands-on-moon-giant-leap-for-humanity
In a groundbreaking achievement, the Odysseus lander, owned by Intuitive Machines, successfully landed on the moon's surface, marking the first privately owned craft to accomplish this feat....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-posts-impressive-2023-profit-of-€365-4-million
Hellenic Bank reported a substantial profit of €365.4 million for the year 2023, marking a significant upswing from €21.8 million in 2022. The Return on Tangible Equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022....
https://knews.kathimerini.com.cy/en/news/interest-rates-extended-borrowers-face-dilemma
Last Thursday, the European Central Bank (ECB) opted to maintain interest rates, extending the uncertainty for borrowers regarding their loans and repayments....
https://knews.kathimerini.com.cy/en/news/wolfgang-schauble-former-german-finance-minister-dies-at-81
Wolfgang Schäuble, the influential former German Finance Minister and speaker of the Bundestag, passed away at 81, leaving a profound mark on European financial affairs....
https://knews.kathimerini.com.cy/en/news/european-data-shows-low-interest-payouts-by-cypriot-banks
Cypriot banks rank second to last among European banks in terms of paying interest on total household deposits, according to data released on Wednesday by the European Banking Authority (EBA), as part of its annual risk assessment of the European banking system....
https://knews.kathimerini.com.cy/en/news/how-cyprus-and-chevron-found-common-ground
The resolution of the dispute between the Republic of Cyprus and Chevron Cyprus Limited, the operator of the Aphrodite field, appears largely satisfactory to both parties....
https://knews.kathimerini.com.cy/en/business/crisis-averted-as-cyprus-and-chevron-reach-compromise
The resolution of the dispute between the Republic of Cyprus and Chevron Cyprus Limited, the manager of the Aphrodite field, can be seen as a compromise satisfying both parties. ...
https://knews.kathimerini.com.cy/en/business/is-the-digital-euro-the-ecb-s-game-changer-or-a-banks-ally
The digital euro would not be a threat to the role of banks as financial intermediaries, Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) and ECB Governing Council member, has said, stressing that the digital euro will be issued and guaranteed by the ECB and not at the level of the member state....
https://knews.kathimerini.com.cy/en/news/mortgage-rates-soar-to-4-91-deposits-decline-in-october-2023
Mortgage interest rates in Cyprus climbed to 4.91% in October 2023, according to data released by the Central Bank of Cyprus in its November 2023 edition of Monetary and Financial Statistics....
https://knews.kathimerini.com.cy/en/news/government-to-appeal-limassol-court-granting-compensation-for-laiki-bank-depositors
In a significant legal development, the Attorney General of the Republic of Cyprus is set to file an appeal against the recent decision of the Limassol District Court....
https://knews.kathimerini.com.cy/en/news/hellenic-bank-rakes-in-€240-7m-in-2023-s-first-9-months
Hellenic Bank announced on Tuesday a profit of €240.7 million for the first 9 months of 2023....
https://knews.kathimerini.com.cy/en/news/cyprus-central-bank-challenges-court-ruling-on-laiki-bank-haircuts
The Central Bank of Cyprus (CBC) declared on Tuesday its intention to appeal the Limassol District Court's decision favoring the claimant in the Laiki Bank deposit impairment case from 2013....
https://knews.kathimerini.com.cy/en/news/assessing-george-papanastasiou-s-9-month-energy-impact
Last March, when the newly elected President of the Republic, Nikos Christodoulides, announced his Cabinet, one portfolio that drew attention was the Ministry of Energy....
https://knews.kathimerini.com.cy/en/news/boc-reports-€349-million-in-profits-plans-employee-bonuses-for-2024
In a significant financial turnaround, Bank of Cyprus reported a notable profit of €349 million for the nine months ending September 30, 2023, marking a substantial improvement from the €19 million loss in the same period last year. ...
https://knews.kathimerini.com.cy/en/news/financial-tsunami-looms-as-limassol-court-decision-sends-shockwaves-through-cyprus
In a potentially precedent-setting decision, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor of the People's Bank, potentially exposing the state to financial implications of up to 2-3 billion euros....
https://knews.kathimerini.com.cy/en/news/russian-depositor-triumphs-over-laiki-bank-s-2013-haircut
The Legal Service, on behalf of the Republic of Cyprus and the Central Bank of Cyprus (CBC), will appeal the decision of the Limassol District Court, which awarded compensation to a depositor of the former Laiki Bank for the 2013 deposit haircut, according to CNA....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-and-hellenic-bank-upgraded-by-fitch
Fitch Ratings has delivered significant upgrades to the two largest Cypriot banks, Bank of Cyprus and Hellenic Bank, signaling a positive turn in Cyprus's economic landscape and a bright outlook for both financial institutions....
https://knews.kathimerini.com.cy/en/business/energy-minister-urges-chevron-to-honor-agreement-for-aphrodite-field-development
Energy Minister George Papanastasiou has issued new communications to Chevron, the operator of the Aphrodite field, from the Parliament ahead of the crucial meeting with Chevron's Chairman, Clay Neff. ...
https://knews.kathimerini.com.cy/en/news/cyprus-deposits-bounce-back-with-€87-7-million-growth
Total deposits recorded a noteworthy uptick in September 2023, rebounding from two consecutive months of decline, according to data released Wednesday by the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/acquisition-talks-between-astrobank-and-cdb-bank-heat-up
As of the beginning of the week, high-ranking officials from both banks had a meeting to discuss transaction details and the way forward....
https://knews.kathimerini.com.cy/en/business/middle-east-turmoil-shifts-energy-and-diplomatic-priorities
The tumultuous situation in the Middle East, prompted by Hamas's aggressive attack on Israel and Tel Aviv's military response, is reshaping the priorities of the Netanyahu government and the balance in the South-Eastern Mediterranean....
https://knews.kathimerini.com.cy/en/news/ancient-mysteries-unearthed-on-cyprus-northern-coastline
In the vicinity of the occupied village of Davlos, specifically at the location of Vikli (Galounia), an astonishing geological formation has captivated attention. This formation comprises a sequence of alternating layers of clay, marl, sandstone, limestone, and other rocks....
https://knews.kathimerini.com.cy/en/news/ankara-s-surprising-move-on-cyprus-resources
Turkish Foreign Minister Hakan Fidan has reintroduced a proposal with a clear aim to disrupt the existing framework for resolving the Cyprus problem, echoing Ankara's prior suggestions....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-secure-moody-s-upgrade-to-investment-status
After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....
https://knews.kathimerini.com.cy/en/news/loans-gain-€8-5-million-momentum
Total loans in August recorded a net increase of €8.5 million, following a significant decrease of €100 million the previous month. Meanwhile, for a second consecutive month, deposits saw a net decrease, amounting to €175.5 million....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-cuts-fees-for-customers
Hellenic Bank is taking steps to enhance its services and support its customers. Mr. Phoebus Stasopoulos, the Senior Banking Manager of Hellenic Bank, announced the expansion of the limit for free SEPA transfers through Online Banking....
https://knews.kathimerini.com.cy/en/news/syprodat-and-government-join-forces-to-end-non-performing-loans
Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....
https://knews.kathimerini.com.cy/en/business/borrowers-in-a-high-stakes-game-of-loan-roulette
In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...
https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-gas-dilemma-deepens
While Netanyahu's recent visit to Cyprus generated considerable attention, it's apparent that promises of cooperation in the Eastern Mediterranean have yet to materialize. ...
