Search

31. Moody's boosts Bank of Cyprus and Hellenic Bank ratings to Baa2

Moody’s Investors Service has upgraded Bank of Cyprus’ and Hellenic Bank’s long-term deposit ratings to Baa3 from Ba1, citing the continued resilience of the Cypriot economy and credit conditions, which are leading to supportive operating conditions for Cypriot banks....

32. 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....

33. Eurobank to acquire Hellenic Financial Stability Fund stake

Eurobank Ergasias Services and Holdings S.A. has recently inked a conditional sale and purchase agreement with the Hellenic Financial Stability Fund. This agreement entails the acquisition of the Fund's entire stake in Eurobank's share capital....

34. 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....

35. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

36. 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, ...

37. Is Cyprus banking sector heading for a shake-up?

The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...

38. Wargaming to divest 6.8% stake in Hellenic Bank to Eurobank for €65.9 million

Wargaming has announced its decision to sell its remaining stake of 6.8% (28,023,767 shares) in Hellenic Bank to Eurobank. ...

39. Hellenic Bank reports impressive profit surge of €160.2 million

Hellenic Bank had a really good financial run in the first half of 2023. They made a profit of €160.2 million, which is a huge jump of 203% compared to last year at the same time....

40. Eurobank acquires 17.3% stake in Hellenic Bank for €167.9 million

The Eurobank has agreed to acquire an additional stake of around 17.3% (equivalent to 71,428,572 shares) in the Hellenic Bank at a total price of 167.9 million euros, or 2.35 euros per share. ...

41. Eurobank secures full control of Hellenic with Pimco share acquisition

Eurobank has successfully acquired all shares of Pimco in Hellenic Bank for €167.9 million, equivalent to €2.35 per share, solidifying its position as the predominant shareholder....

42. Vegan Fam Festival 2023: Embrace life, sustainably

In an eagerly anticipated announcement, the Vegan Fam Festival, hailed as Cyprus' largest eco-festival, is set to make its triumphant return for the third consecutive year. ...

43. The EuroAsia saga continues

In a statement to ''K'' news, the European Commission expressed its appreciation for the recent signing of the cable purchase agreement for the EuroAsia Interconnector....

44. Money theft attempt at Paphos ATM

Authorities are investigating an incident of violation and money theft from an ATM in Paphos....

45. CEO of Hellenic Bank placed on leave

The Hellenic Bank's CEO, Oliver Gatzke, has been placed on mandatory leave with full pay after informing the bank of his decision to terminate his employment contract, effective from July 22, 2024, when the contract was due to expire....

46. Banking on success: Greek and Cypriot banks show remarkable credit improvement

Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....

47. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

48. Interest rate increases boost Cypriot banks' 2022 profits to €177 million

Bank of Cyprus and Hellenic Bank generated a combined profit of €164.7 Million in Q1 2023, Driven by interest rate increases....

49. Hellenic Bank rakes in €69.7 million in profits during Q1 of 2023

Hellenic Bank has reported a profit of €69.7 million for the first quarter of 2023, signaling a strong start to the year. ...

50. Numerous foreclosure sales expected in 2023 and 2024

The COVID-19 pandemic and the subsequent suspension of divestments since 2020 have led to the creation of a considerable volume of properties for disposal that banks and credit purchase companies have on their balance sheets....

51. Cypriot banks dump Russian client accounts

Russian nationals in the Republic of Cyprus are facing bank account closures as the island’s financial institutions are choosing to axe client accounts to avoid sanction violation risks, but some fear an indiscriminate sweep may affect innocent customers...

52. Completion of Project Starlight

53. EY Cyprus a Gold Sponsor at the 6th Annual Capital Link Cyprus Shipping Forum

EY Cyprus was, once again, a gold sponsor of the 6th Annual Capital Link Cyprus Shipping Forum, which was held at the Columbia Plaza, in Limassol, on Tuesday, March 7th 2023....

54. Bad luck can't always be held responsible

“It was an unfortunate moment,” the stationmaster in the deadly train crash is said to have claimed. How many times has the inadequacy and failure of the broader Greek state mechanism been hidden behind such phrases? Sometimes it is blamed on “bad luck,” at others, it is dismissed with “That’s Greece.”...

55. It's dangerous around here

There has been a lot of discussion about the new President's selection of Michalis Hatzigiannis to fill the role of Deputy Minister of Culture, and it can be challenging to separate reasonable criticism from elitism. ...

56. The who's who of the Christodoulides government

On Monday afternoon (27/02), Nikos Christodoulides, the country's new leader, unveiled his new administration. Read the detailed biographies of the individuals who make up the new government....

57. 2023 will be the year banks dole out dividends

Apart from entering 2023 with inflationary tendencies and following a year with a geopolitical crisis due to the Ukrainian one, it is expected to be the year when the term "dividend distribution,"...

58. Cyprus launches campaign for earthquake victims

Cyprus’ Commissioner for the Citizen announced on Wednesday a campaign for the collection of humanitarian aid for the people affected by the deadly earthquake in Syria and Turkey, which will run between February 9 and 17...

59. Which names are being floated for the position of Finance Minister?

The new ministerial team will be assembled beginning Monday, February 13. Nicos Christodoulides and Andreas Mavroyiannis, the two candidates for the Presidency of the Republic of Cyprus, will bring in new faces to staff their Ministries....

60. Banks are revising lending rates

Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...