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61. Funds are investing in Cypriot banks

Investing in Cypriot banks is becoming more common. The progress they have made in terms of the non-performing loan burden they have shed, their capital adequacy, which is characterized as good,...

62. The landscape of bank equity is changing in Cyprus

A day before 2022 came to an end, Eurobank made the announcement that it had added 3.2% more shares of Hellenic Bank, bringing its total to 29.2% (pending regulatory approval), and altering the bank's balance "for good"....

63. 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....

64. Gatzke-Hellenic relations have returned to normal

After taking a brief leave of absence, Hellenic Bank CEO Oliver Gatske has returned to his duties. Mr. Gatske was given the green light to return to his office on Monday after the Cyprus Securities and Exchange Commission cleared him of any wrongdoing....

65. €36 million loss so far reported by banks this year

The banking system reported a loss after tax of €36 million on a consolidated basis in the first nine months of 2022, compared to a profit of €22.54 million in the corresponding period of 2021....

66. Gatzke returns to Hellenic

Oliver Gatzke, CEO of the Hellenic Bank, has returned to the Bank of Greece's headquarters as of today, December 12....

67. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

68. Hellenic CEO cleared of any wrongdoing

Oliver Gatzke, CEO of Hellenic Bank, has not been linked to any suspicious activity, according to the Cyprus Securities and Exchange Commission (CySEC)....

69. Hellenic Bank soon to be under the control of Eurobank

Eurobank is gaining control of Hellenic Bank after purchasing Wargaming's 13.4% stake. With the addition of the 12.6% it held from the purchase of all shares in Third Point Hellenic Recovery Fund in the summer of 2021, it now stands at 26%....

70. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...

71. 14 billion euros of loans on ice due to the suspension of foreclosure sales

In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....

72. 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....

73. 400-500 Hellenic employees to be made redundant

On Monday, November 24th, 400–500 voluntary employees will depart Hellenic Launches; this will be the final shift provided by the bank....

74. Greece, Turkey at it again over shocking refugee photo

A shocking image of fully naked refugees picked up by Greek police has puzzled officials and the media, with Athens pointing the finger at Turkish authorities and Ankara firing back accusing Greece of covering up human rights violations...

75. Banking sector to cut 600 more employees

The number of employees in the Cypriot banking sector will have been reduced further by the end of 2022. By the end of this year, 600 bank employees will have left the company, while about 50 will have been transferred to a similar but non-banking sector....

76. Profits of €55.4 million in first half of 2022 for Hellenic Bank

Hellenic Bank reported a profit of EUR 55.4 million for the first half of 2022, compared to a profit of EUR 21 million in the corresponding half of 2021....

77. The 4th Nicosia Epic Street Fest is fast approaching

Coming this Christmas on Stasikratous Street on Wednesday 21 December from 7 pm to midnight!...

78. RCB finalizes sale of its loan portfolio to Hellenic

RCB Bank Ltd announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank Public Company Ltd has been successfully completed....

79. Κyriacos Koushos takes over as Labour Minister

Κyriacos Koushos will take over as Minister of Labour and Social Insurance, following the death of Zeta Emilianidou who died on June 6 in hospital after suffering a brain aneurysm. ...

80. Mask-wearing man robs bank in Larnaca

A man wearing a COVID mask is believed to have robbed a bank in Larnaca district on Wednesday, the first official day when face coverings are no longer required in the Repubic...

81. EIB ready to offer funding to mitigate effects of Ukrainian war on Cyprus

New investment opportunities in Cyprus, as well as funding to mitigate the effects of the war in Ukraine, were discussed on Monday by President Nicos Anastasiadis, Finance Minister Constantinos Petridis and European Investment Bank (EIB) President Werner Hoyer. ...

82. RCB Bank invites depositors to withdraw their money

RCB Bank will invite its depositors to withdraw their money. According to Kathimerini sources, RCB Bank customers are expected to be able to either receive their deposits on hand or transfer them to other Cypriot banks....

83. Hellenic acquires 553 million euros worth of Cypriot corporate loans from RCB

Hellenic Bank has acquired 553 million euros worth of Cypriot business loans from RCB Bank, increasing its loan portfolio to over 7.2 billion euros....

84. Moves to make banking faster

As part of the strategy to create faster, more flexible and efficient banking services, the Governor of the Central Bank of Cyprus (CBC), Mr. Konstantinos Herodotou,...

85. 'ΜY SNOWMAN' A Musical for Young Audiences

“It’s Christmas Eve and the whole town is asleep. But the girl, sad, wide awake and all alone in her room is looking out the window hoping for a miracle: If only her Snowman would come alive and be her best friend, the friend she so desperately needs…”...

86. Actualizing the ESG proposition The journey towards sustainability, resilience and purpose

87. Thousands of property assets in Greece are up for auction

The Greek property market is about to welcome a host of new offerings as the companies that manage loans secured on properties either for banks or the funds that have acquired them are resuming online auctions in large numbers....

88. Hellenic posts 21 million euro profit

Hellenic Bank posted after-tax profits of €21 million for the first half of 2021....

89. KPMG Announcement

KPMG in Cyprus wishes to inform you that our partner, Antonis Rouvas has decided to accept appointment as Group CFO at Hellenic Bank...

90. 8.3% of local youth has social media addiction symptoms

A survey on the likelihood of young people getting addicted to social media and the internet has shown that 8.3% of Cypriot youth is faced with symptoms of addiction to social media, while the replies of 24% of participants suggested an overall problematic use of the internet. ...