Search

1. Apollo CEO investigated over Epstein ties

The CEO of Apollo Global Management, whose affiliates acquired billions of bad debt in Cyprus, is being investigated over alleged financial ties to Jeffrey Epstein...

2. EU summit breaks up after all-night talks, to resume later

A marathon European Union summit has broken up temporarily in the fourth day of acrimonious haggling over an unprecedented 1.85 trillion-euro ($2.1 trillion) EU budget and coronavirus recovery fund to tackle the crisis. The weary leaders were scheduled to resume the meeting Monday afternoon....

3. Hellenic Bank sells its most expensive home

Hellenic Bank has sold its most expensive home according to a special report, with foreign investors shelling out 3 million for a mansion in Lakatamia...

4. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

5. Cyprus pays off costly crisis loan early

The Cypriot finance minister says the government is repaying an IMF rescue loan faster and at a lower rate after a double bond issuance expected to secure most of the country’s borrowing needs for 2020...

6. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

7. Warnings over new foreclosure legislation

A total of five bills concerning a new foreclosure legislation are expected to be discussed on Thursday at a meeting of the House of Representatives Finance Committee...

8. Monnet or Orban?

When a vision ceases to create prosperity for the great masses it suddenly becomes a nightmare...

9. Cyprus 'one of the success stories of ESM'

10. Four busted in Limassol co-op bank fraud

Four people have been arrested in connection with financial irregularities at a Limassol credit union of the Cyprus Cooperative Bank...

11. Bad loans in Cyprus decline by €3.28 billion since March 2018

12. Alpha Bank Cyprus unloads NPLs worth €400 million

13. 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...

14. 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...

15. 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...

16. 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...

17. 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...

18. 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...

19. 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...

20. 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....

21. 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...

22. 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...

23. 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...

24. 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...

25. 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...

26. 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...

27. 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...

28. 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...

29. 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...

30. 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...