https://knews.kathimerini.com.cy/en/business/borrowers-in-a-high-stakes-game-of-loan-roulette
In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...
https://knews.kathimerini.com.cy/en/news/us-plane-brings-captives-back-home
The plane carrying five American citizens freed as part of a deal between the U.S. and Iran have now landed back home in the United States....
https://knews.kathimerini.com.cy/en/news/supreme-court-frees-billions-in-assets
The Supreme Court unanimously overturns Laiki Bank's secured decrees, releasing billions in assets belonging to Andreas Vgenopoulos, Marfin Investments Group Holdings S.A, Efthimios Buloutas, and Kyriakos Cook....
https://knews.kathimerini.com.cy/en/news/135-debt-reduction-sparks-hope-for-economy
According to the latest data from the Central Bank of Cyprus, the private debt-to-GDP ratio has shown a significant decrease from its peak at the end of the first quarter in 2015 to the end of March 2023. ...
https://knews.kathimerini.com.cy/en/business/ssm-chief-urges-banks-to-be-prudent-amidst-soaring-profits
The Chairman of the Single Supervisory Mechanism (SSM), Andrea Enria, has emphasized that the gains from high interest rates for banks will eventually come to an end....
https://knews.kathimerini.com.cy/en/news/akel-blasts-government-amid-rising-bank-profits
The political party AKEL has voiced its discontent with the government's handling of economic issues, particularly in light of the recent decision to raise interest rates for the tenth time....
https://knews.kathimerini.com.cy/en/business/eu-passes-borrower-protection-law-your-rights-when-borrowing-money
The European Parliament (EP) has voted on rules to keep people safe when they borrow money for things like credit cards or loans....
https://knews.kathimerini.com.cy/en/news/court-upholds-2013-resolution-measures-for-laiki-bank
The court rejected another lawsuit related to the 2013 deposit problem....
https://knews.kathimerini.com.cy/en/news/government-cuts-interest-income-rates-from-30-to-17
The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors.
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https://knews.kathimerini.com.cy/en/news/is-cyprus-banking-sector-heading-for-a-shake-up
The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...
https://knews.kathimerini.com.cy/en/news/more-than-30-shots-fired-at-limassol-bank
Police investigators from the CID are closely examining closed-circuit television (CCTV) footage related to a shooting incident that occurred in the early hours of Monday morning at a Bank of Cyprus branch on Agia Fylaxeos Street....
https://knews.kathimerini.com.cy/en/business/altia-transforms-the-real-estate-market-through-property-management-technology-services-developed-by-prosperty-and-robura
Altia, the fastest-growing real estate company in Cyprus with one of the largest real estate portfolios, is bringing digital transformation to the real estate sector. ...
https://knews.kathimerini.com.cy/en/business/cdb-bank-and-astrobank-in-talks-for-potential-acquisition
In an official announcement released by CDB Bank to the Cyprus Stock Exchange, both banks have confirmed discussions regarding the potential acquisition of CDB Bank by Astrobank. ...
https://knews.kathimerini.com.cy/en/news/cyclone-s-fury-claims-31-lives-in-brazil
Flooding from a cyclone in southern Brazil washed away houses, trapped motorists in vehicles and swamped streets in several cities, killing at least 31 people and leaving 2,300 homeless, authorities said Wednesday....
https://knews.kathimerini.com.cy/en/news/recovery-and-resilience-measures-target-non-performing-loans
In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...
https://knews.kathimerini.com.cy/en/news/stunning-loch-ness-monster-photos-emerge-after-years-in-secrecy
New images of a “serpent” creature claimed to be the Loch Ness Monster have been hailed as the “most exciting ever” of the mythical beast....
https://knews.kathimerini.com.cy/en/news/akel-s-bold-demand-tax-bank-profits-to-power-people-s-pockets
The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....
https://knews.kathimerini.com.cy/en/news/hellenic-bank-reports-impressive-profit-surge-of-€160-2-million
Hellenic Bank had a really good financial run in the first half of 2023. They made a profit of €160.2 million, which is a huge jump of 203% compared to last year at the same time....
https://knews.kathimerini.com.cy/en/news/bank-tax
Leaving the door open for potential action, the Finance Ministry is considering an additional tax on banks due to dissatisfaction with their current approach to deposit and lending rates....
https://knews.kathimerini.com.cy/en/news/china-s-$10-trillion-hidden-debt
For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....
https://knews.kathimerini.com.cy/en/news/eurobank-acquires-17-3-stake-in-hellenic-bank-for-€167-9-million
The Eurobank has agreed to acquire an additional stake of around 17.3% (equivalent to 71,428,572 shares) in the Hellenic Bank at a total price of 167.9 million euros, or 2.35 euros per share. ...
https://knews.kathimerini.com.cy/en/business/eurobank-secures-full-control-of-hellenic-with-pimco-share-acquisition
Eurobank has successfully acquired all shares of Pimco in Hellenic Bank for €167.9 million, equivalent to €2.35 per share, solidifying its position as the predominant shareholder....
https://knews.kathimerini.com.cy/en/news/taylor-swift-s-tour-spreads-goodwill-to-food-banks
Economists told CNN recently that Taylor Swift’s Eras Tour is becoming such a massive phenomenon that it’s having demonstrable impacts on the US economy at large, but it’s not only stadium venues, record labels, and ticket vendors benefiting....
https://knews.kathimerini.com.cy/en/news/bank-of-ireland-glitch-turns-no-funds-into-a-cash-fiesta
Bank of Ireland is facing a crisis after thousands of customers descended on ATMs yesterday evening attempting to take advantage of a major IT glitch....
https://knews.kathimerini.com.cy/en/news/record-surge-in-loan-renegotiations-amidst-rising-interest-rates
Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by the repeated interest rate hikes by the European Central Bank (ECB) in its effort to tackle soaring inflation....
https://knews.kathimerini.com.cy/en/business/boc-reports-€220-million-profit-for-first-half-of-2023
Bank of Cyprus Group has reported a robust profit after tax of €220 million for the first half of 2023, a significant leap from the €43 million recorded in the same period of 2022. Notably, €125 million of these profits were achieved in the second quarter of 2023....
https://knews.kathimerini.com.cy/en/business/italy-surprises-banks-with-40-windfall-tax
Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...
https://knews.kathimerini.com.cy/en/business/cbc-bounced-checks-decline-continue-to-decline
A total of 36 bounced checks, amounting to €112,717, were issued in July 2023. These checks involve 18 entities, consisting of 11 legal entities and 7 individuals. ...
https://knews.kathimerini.com.cy/en/business/corporate-loans-above-€1-million-surge
The net new loans (excluding restructurings) in Cyprus amounted to €1.73 billion in the first half of 2023, showing a slight annual increase of 1.26%. The continuous interest rate hikes by the European Central Bank significantly slowed down the granting of housing loans....
https://knews.kathimerini.com.cy/en/business/eurobank-cyprus-reports-soaring-profits-amid-rising-interest-rates
Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....
