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541. Alpha Bank Cyprus unloads NPLs worth €400 million

542. IMF: The Cypriot economy continues its rapid recovery from the 2012–13 financial crisis

543. Bank share plunge fuels fears about Greece's vulnerability

544. Astrobank in talks to buy National Bank of Greece Cyprus unit

545. Fitch Ratings upgrades Bank of Cyprus

546. Cyprus back into investment grade

Cyprus got its investment worthiness stripes back on Friday as Standard & Poor’s raised the country’s credit grade from BB+ to BBB- with a stable outlook, five years following a devastating financial collapse...

547. EU Commissioner for Competition Margrethe Vestager visits Cyprus

548. Hellenic mulls over selling delinquent loans

Hellenic Bank posted a €35 million net profit for the first half of 2018, with the bank’s CEO Ioannis Matsis stating that the bank is ready to launch a tender for the sale of a portfolio of non-performing exposures within the next six months...

549. Hellenic takes on 400,000 new customers

Hellenic Bank is taking on 400,000 new customers, leaving bad debt behind in the acquisition of healthy parts of state-owned Cyprus Cooperative Bank...

550. Moody’s thumbs up to Bank of Cyprus bad loans sale

Moody’s credit rating agency says the recent sale of Non-Performing Loans by the Bank of Cyprus worth €2.8 billion is a positive step...

551. Former trustee says Credit Unions were in chaos

Another former trustee of the defunct Cyprus Cooperative Bank speaks out, describing a world of chaos at the financial institution where lack of expertise, political pressure, and wrongdoing ruled the day ...

552. Bank of Cyprus gets rid of small business bad loans

The Bank of Cyprus says it has sold a portfolio of non-performing loans worth €2.8 billion to Apollo Global Management, a transaction that will reduce its stock of NPLs to €5.2 billion...

553. Bank of Cyprus CEO stays put through 2020

Bank of Cyprus CEO John Patrick Hourican will stay in his current position through the end of 2020, following a decision by the executive board at the largest lending institution in Cyprus...

554. Over a thousand employees choose Co-Op buyout

Over a thousand employees at Cyprus Cooperative Bank signed up for a voluntary severance package, well above the target of 900 set by the bank ahead of a takeover by Hellenic Bank...

555. Shadows loom over government’s ‘clean exit’ scenario

Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....

556. Regling says Greece will remain linked to ESM

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling....

557. Manafort lawyer blames Cyprus accounts on oligarchs

Prosecutors described Paul Manafort as a “shrewd” liar and accused him of misleading his tax preparers, banks, and US authorities in claiming that secret accounts did not exist...

558. Unions okay with CCB severance package

Union employees at Cyprus Cooperative Bank have agreed to sign up on a severance package plan this summer, ahead of a takeover by Hellenic Bank, saying it can contribute to labour peace...

559. Unions to discuss CCB severance offer

The Cyprus Cooperative Bank is making another effort to strike a deal with unions in order to get 900 employees agree to walk away...

560. Moody’s says BoC better off after UK sale

Rating Agency Moody’s has described the sale of Bank of Cyprus UK as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on reducing its domestic high stock of problematic loans...

561. Government exploring ways to suspend pension cuts

The government is hoping that surpluses at the Single Social Security Entity (EFKA) will allow the non-implementation of pre-legislated pension cuts on January 1 next year....

562. President thanks parliamentary caucus for Sunday votes

President Nicos Anastasiades praised the ruling and opposition parties for approving state guarantees for Hellenic Bank as well as passing new foreclosure and bankruptcy laws, adding he would not respond to criticism...

563. House approves state guarantees in co-op deal

The House passed legislation Sunday night in favour of providing state guarantees to Hellenic Bank in its acquisition of Cyprus Cooperative Bank’s healthy portfolio...

564. House shifts into gear with Sunday bad loans session

It will be a long weekend for the House finance committee, which will hold emergency sessions ahead of a crucial Sunday vote on bad loans and state guarantees for Hellenic Bank...

565. Cabinet okays homeowner plan ahead of crucial House session

The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non-performing loans in the Cypriot banking sector, but time is running out as a crucial legislation package on bad loans is also up for a vote on Friday...

566. House prepares to define good and bad borrowers

The distinction between responsible and irresponsible borrowers is at the forefront of heated debate this week, with Presidential Palace and Parliament scrambling to strike balance ahead of a crucial vote...

567. Government welcomes Diko support on bad loans

The Cyprus government says it can work with opposition centrist party Diko to pass much needed comprehensive legislation on bad loans that would also pave the way for a co-op deal to go forward...

568. Bad loans revive MP financial disclosure debate

A ruthless debate is picking up steam among members of parliament following public discussion and media coverage that raises the issue of conflict of interest ahead of a crucial vote on bad loans...

569. AG names investigators to comb though co-op

A former judge, an economist, and a banker will make up the executive committee that will investigate any suspicious dealings that took place in the troubled Cypriot co-op...

570. Co-Op deal with Hellenic still up in the air

The government is running against the clock with bad loans legislation, which would include a bill approving state guarantees for Hellenic Bank to absorb potentially high-risk loans in co-op takeover...