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1. CBC urges banks to show social responsibility despite sector’s strength

The Central Bank of Cyprus (CBC) released its annual Financial Stability Report for 2023 on Tuesday, indicating that the financial sector is overall strong and capable of handling unexpected challenges. ...

2. Bank of Cyprus shareholders moving at different speeds

CarVal Investors recently sold 3% of its 9.09% stake in Bank of Cyprus, sparking speculation that other shareholders may follow suit and sell their shares....

3. Cypriot banks sending loans abroad: A growing risk?

Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....

4. Spike in suspicious transactions as Cyprus freezes over €25 million in illicit assets

Reports of suspicious transactions in Cyprus have risen sharply in 2023, reaching levels similar to those in 2021, as per a story by Kathimerini's Dorita Yiannakou....

5. Fake $100 banknotes flood Cyprus

The Central Bank of Cyprus called on Monday for caution over the circulation of counterfeit US$ 100 banknotes in the market. ...

6. Dead fish wash ashore at Athalassa Park

Visitors to Athalassa Park in the capital were met with a disturbing sight on Friday, as dozens of dead fish were found washed ashore in various areas of the park....

7. ECB cuts rates again as Eurozone inflation and economy struggle

The European Central Bank (ECB) has cut interest rates for the third time, marking the first consecutive reduction in 13 years....

8. Interior Ministry proposes solutions for 9,500 stranded property buyers

Interior Minister Constantinos Ioannou presented solutions for resolving issues faced by ''stranded buyers'' to the Parliamentary Committee on Legal Affairs, addressing about half of the nearly 9,500 pending cases....

9. Effort to create new cooperative bank in Cyprus begins with IPO search

The Cypriot company for the promotion of the cooperative movement is at the process of seeking an investment firm that would underwrite an initial public offering for the creation of a “small cooperative bank” in Cyprus that would replace the Cooperative Cyprus Bank which went into liquidation back in 2018, Panikos Hambas told CNA....

10. Behind the numbers: Are Cyprus's non-performing loans just a makeup job?

Are there good makeup artists in Cyprus? Sometimes I wonder, but since I’m out of the fashion scene, I can’t say for sure. However, when I think back to the banking events of the last 15 years, then yes—at least in the banks, they exist....

11. Bank profits in crosshairs as tax talks heat up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

12. CBC: Top savings interest rate in Cyprus hits 2.45%

In August 2024, the Central Bank of Cyprus reported that the highest interest rate for term deposits of up to one year for households reached 2.45%. ...

13. Taavi Rõivas on why AI is the future of government

Taavi Rõivas, Estonia’s former Prime Minister, visited Cyprus for the Digital Agenda Summit 2024, where he was invited to speak about Estonia’s pioneering journey in creating a fully digitized government....

14. ECB cautiously prepares for further rate reductions

The intention of the central bankers on the European Central Bank’s (ECB) Governing Council to proceed with another interest rate cut next week, as inflation data proves favorable, is indirectly but clearly reflected in the minutes of their last meeting, released today....

15. ECB to review AKEL’s proposed bank tax amid financial concerns

The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...

16. Cypriot economy shows resilience, growth outpaces EU average

The Governor of the Central Bank of Cyprus, Christodoulos Patsalides, has called on banks to consider the social dimension of their pricing policies......

17. Silent Pool at the 5th Cyprus Cocktail Festival

The highly anticipated Cyprus Cocktail Festival returns for its 5th edition, bringing an unforgettable evening of exclusive signature cocktails crafted by 20 top bars from Cyprus and abroad....

18. Series of events #Moments at the Museum '24 at the Bank of Cyprus Cultural Foundation

I sing and illustrate the traditional songs of my country...

19. New subsidy scheme aims to lighten home loan interest rates

A new Interest Rate Subsidy Scheme for home loans is on the horizon, promising to ease the financial burden for many homebuyers....

20. Cyprus banks hike mortgage rates as new loans drop by a third in August

Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....

21. US urges tighter oversight of Cypriot service providers to combat financial crime

Cypriot accountants and lawyers are under pressure from U.S. authorities to align with banking standards in combating financial crime. ...

22. Cyprus banks have €28.7 billion in cash and liquidity

The amount of liquidity in Cyprus's banking system rose to €28.7 billion in August 2024, according to the Central Bank of Cyprus (CBC). This increase was fueled by a growth in deposits alongside a decline in loans....

23. Tighter lending rules for businesses while household loans remain steady

Cypriot banks made it harder for businesses to get loans in the second quarter of 2024, while lending rules for households stayed the same, according to a new survey by the Central Bank of Cyprus (CBC)....

24. Bank of Cyprus shares surge 4.6% on first day back in Athens

Bank of Cyprus shares surged on their first day of trading at the Athens Exchange, reaching €5.00, marking a notable return to the Greek financial market after seven years....

25. Cypriot loan servicers struggle as red loans hit €21.2B

While non-performing loans (NPLs) in Cypriot banks are gradually declining, the situation remains dire for "red loans" held by loan acquisition companies, or "servicers." ...

26. Michalis Louis appointed CEO of Hellenic Bank

Michalis Louis has been appointed as the new Chief Executive Officer of Hellenic Bank Public Company Limited at the Annual General Meeting of the Shareholders of the Bank, with immediate effect, according to a decision taken by the Board of Directors of the bank......

27. Hellenic Bank boosts first-time buyers with reduced rates

Hellenic Bank has introduced a new scheme offering reduced interest rates for first-time homebuyers....

28. Fitch upgrades Hellenic Bank's rating

Fitch Ratings has raised Hellenic Bank’s (HB) support rating from ‘bb-’ to ‘bb’, thanks to a similar boost for Eurobank S.A., which owns a majority stake in HB. This change reflects Eurobank’s growing role and influence over HB....

29. Homebuyers face mounting debts as developers' loans go unpaid

30. Bank of Cyprus moves from London to Athens stock exchange in major shift

In a series of significant moves, Cyprus's banking sector is undergoing notable changes this autumn....