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361. 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...

362. 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...

363. 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...

364. 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...

365. 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...

366. 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...

367. 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...

368. Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms...

369. ESM warns Cypriot banks of quick fixes

The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...

370. Probe countdown begins for Cyprus Co-Op debacle

Attorney General Costas Clerides is moving forward with the launching of an investigation into possible offences at the Cyprus Cooperative Bank, in connection with bad loans worth €7.5 billion...

371. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

372. Hellenic moments away from CCB offer

The privatisation deal for Cyprus Cooperative Bank could be moments away, with Hellenic Bank putting the finishing touches on the final makeup of its new shareholder base...

373. Audit report on CCB made public amid negotiations

An audit report on the Cyprus Cooperative Bank (CCB) was made public on Friday, amid negotiations between the Co-op and its two bidders, making recommendations for improvement but also criticising the institution on a number of decisions...

374. Government and Co-op begin consultations with bidders

375. Godly giants in kilts: Meet Greece's best-known soldiers

It might be the short, pleated kilts, tasselled black garters and pompom-tipped shoes, but there's something more endearing than intimidating about Greece's best-known military unit, the Presidential Guard...

376. Cyprus forecasts high GDP growth of 3% plus until 2021

High growth rates exceeding 3% of the GDP and high primary surpluses are projected until the year 2021 in the Strategic Fiscal Policy Framework (SFPF) 2019-2021, which was approved by the cabinet...

377. Non-performing loans in banking system spike by €1.5 billion

Non-performing exposures (NPEs) in the Cyprus banking system jumped up by €1.5 billion in January, as International Financial Reporting Standard 9 entered in to force...

378. Co-op receives two bids in good bank, bad bank scenarios

The Cooperative Central Bank (CCB) announced on Monday it has received two bids as part of its privatisation process launched in March, with one bidder going after the ‘good bank’ scenario just as the European Commission approved the acquisition of Altamira Cyprus by a joint platform with CCB and one of the bidders...

379. Experts says Cyprus economy to grow by 3.8% this year

The Cypriot economy will pick up momentum in 2018, the University of Cyprus’s Economic Research Centre predicts, upgrading its growth forecast to 3.8% compared with its previous projection of 3.6%. ...

380. Hellenic Bank in a time crunch to bid on Co-op

The deadline in the privatisation process for the Cyprus Cooperative Bank (CCB) has been postponed until mid-May, setting in motion the executive board at the Hellenic Bank to intensify discussions on making a bid. ...

381. Cyprus recovery is being recognised by international agencies

Fitch does not currently anticipate developments with a high likelihood of leading to a downgrade...

382. Co-op suffered 'nightmare' bank run

A top official at the Cooperative Bank says more money was lost in bank deposits first quarter this year, just shy of 2 billion, than the outflow during the 2013 crisis....

383. #PoliticsBlog Loans to Politicians

The Non-Performing Loans (NPL) associated with political public figures reach over €160 million just in the cooperative bank alone. New measures are welcome but can they deliver?...

384. FinMin: Revenue from NPLs management will repay cost of support to Co-op

Government moves include establishing an asset – management company, based on conditions that the competent European institutions will set and depending on the finalisation of investment interest in the Co-op...

385. Banks in Cyprus, Greece and Portugal may need further reserve build-up

Fitch also notes that average NPL/total loan ratios at the EU`s largest banks had declined to 4% by end-2017 from 6.5% at end-2014...

386. Georgiades makes a “good case” for Co-op sell-off

Borrowers who default on a loan won’t be able to pick up the phone and ask a politician to intervene, according to Finance Minister Harris Georgiades, who insists that separating healthy banking from bad loans is the best way forward for the Cyprus Cooperative Bank....

387. Privatisation of Co-op may lead to the creation of a 'bad bank'

A process launched by the nationalised Cooperative Cyprus Bank may lead to the creation of an Asset Management Company also known as a bad bank ...

388. Cooperative bank outflow appears to have stopped

The Cyprus finance minister says outflow has stopped at the state-owned Cyprus Cooperative Bank, following a €2.5 billion deposit by the government that is seeking private investors for the troubled institution....

389. Cyprus Cooperative Bank gets €2.5 billion deposit

The Cyprus government says it is depositing €2.5 billion at the Cooperative Bank of Cyprus, as part of a broader plan to eliminate uncertainty among depositors in the wake of a privatisation bid...

390. Hourican is one of the best paid Irish bankers

The Dubliner CEO of the Bank of Cyprus, was paid €2.1 million last year, putting him among the best-paid Irish bankers in the world...