https://knews.kathimerini.com.cy/en/business/small-number-of-banks-meeting-new-loan-demand
The net demand for loans from businesses in Cyprus decreased in the third quarter of 2022, and banks anticipate a similar decline in the net demand for loans from businesses and households in all loan categories in the fourth quarter of 2022 compared to the third quarter.
...
https://knews.kathimerini.com.cy/en/news/14-billion-euros of-loans-on-ice-due-to-the-suspension-of-foreclosure-sales
In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....
https://knews.kathimerini.com.cy/en/business/the-suspension-of-foreclosure-sales-is-tragic-for-the-country
Bank of Cyprus CEO Panicos Nicolaou described Cyprus's decision to extend the suspension of divestments as "tragic."...
https://knews.kathimerini.com.cy/en/business/boc-profits-for-first-nine-months-gobbled-up-by-voluntary-retirement-plan
The bank reported 9 million euro losses following the summer departure of 550 employees, which cost it 104 million....
https://knews.kathimerini.com.cy/en/news/ecb-banks-in-italy-portugal-greece-cyprus-could-see-highest-rise-in-npls
Banks in Italy, Portugal, Greece and Cyprus could suffer some of the biggest increases in non-performing loans while France, Ireland and Luxembourg could be among the best performers, the European Central Bank said in a fresh study on Tuesday....
https://knews.kathimerini.com.cy/en/business/who-benefits-from-the-proposed-rent-to-mortgage-scheme
The "Rent vs Instalment Scheme", now known as the "mortgage to rent" scheme, is nearing completion, with implementation set to begin in January 2023. ...
https://knews.kathimerini.com.cy/en/business/400-500-hellenic-employees-to-be-made-redundant
On Monday, November 24th, 400–500 voluntary employees will depart Hellenic Launches; this will be the final shift provided by the bank....
https://knews.kathimerini.com.cy/en/news/finance-minister-calls-for-the-repeal-of-foreclosure-suspension
The Ministry of Finance proposes delaying the law on divestiture suspension.
...
https://knews.kathimerini.com.cy/en/business/looking-for-a-strategy-to-suspend-foreclosure-sales
To protect vulnerable borrowers and stop the economy from being impacted by decisions that could harm its integrity, a strategy for the new potential three-month suspension of foreclosure sales is being sought.
...
https://knews.kathimerini.com.cy/en/news/ft-former-pwc-cyprus-accountants-take-on-company-s-russian-clients
A group of PwC partners has launched a breakaway firm in Cyprus to take on work from Russia-linked clients that the Big Four accountants will no longer touch....
https://knews.kathimerini.com.cy/en/business/bounced-checks-totaling-€47-010-were-issued-in-october
In October 2022, only 32 bounced checks totaling €47,010 were issued, and a total of 20 people were listed on the preliminary list of the Central Information Register (CIR) for bounced checks maintained by the Central Bank of Cyprus (CBC). Thirteen of the twenty were natural persons, and seven were legal entities....
https://knews.kathimerini.com.cy/en/business/loans-are-increasing-as-interest-rates-rise
New loans provided by Cypriot banks rose by €217 million in September compared with August, driven mainly upwards by corporate loans over €1 million which rose by 127.6 million....
https://knews.kathimerini.com.cy/en/news/people-with-a-history-of-cancer-will-be-eligible-for-insurance-benefits
Following an agreement reached on Thursday afternoon and announced by Health Minister Michael Hadjipantelas, people with a history of cancer will now be able to receive benefits from insurance companies as of January 1, 2023....
https://knews.kathimerini.com.cy/en/business/ecb-raises-interest-rates-by-0-75
The European Central Bank recently decided to raise interest rates by 0.75%. This is the third consecutive increase (a 2% increase overall), and the base rate will now be 2%. The interest rate at which banks accept deposits has risen from 0.75% to 1.5%....
https://knews.kathimerini.com.cy/en/business/cyprus-has-come-a-long-way-in-restoring-reputation-over-anti-money-laundering-issues
The Republic of Cyprus has come a long way in dealing with anti-corruption and Anti-money laundering (AML) issues, making important strides in restoring the Republic of Cyprus’ reputation, said US Ambassador to Cyprus, Judith Garber speaking on Tuesday at EY’s Cyprus Attractiveness Forum....
https://knews.kathimerini.com.cy/en/news/bank-deposits-climb-to-a-nine-year-high
Deposits in the Cypriot banking system climbed to a nine-year high in September, while total loans continued their downward path, declining in a five-month low, boosting liquidity in the system to over €23 billion....
https://knews.kathimerini.com.cy/en/news/greece-turkey-at-it-again-over-buck-naked-refugees
A shocking image of fully naked refugees picked up by Greek police has puzzled officials and the media, with Athens pointing the finger at Turkish authorities and Ankara firing back accusing Greece of covering up human rights violations...
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-cyprus-is-bursting-like-a-fat-guy-out-of-his-leotard
Cyprus’ changing demographics are causing havoc to the real estate market, accentuating socio-economic imbalances and creating polarised communities. A bit dramatic? Let’s see....
https://knews.kathimerini.com.cy/en/news/banking-sector-to-cut-600-more-employees
The number of employees in the Cypriot banking sector will have been reduced further by the end of 2022. By the end of this year, 600 bank employees will have left the company, while about 50 will have been transferred to a similar but non-banking sector....
https://knews.kathimerini.com.cy/en/business/the-ecb-s-next-steps-were-documented-in-limassol
The two-day conference of Central Bank Governors in Limassol is a strong contender to serve as the foundation for decisions on monetary policy and inflation strategy to be made in the coming period.
...
https://knews.kathimerini.com.cy/en/news/how-much-loan-can-a-couple-with-an-income-of-€2-000-get
Housing loans are an issue that inevitably affects a large number of young couples. Because housing prices have skyrocketed while wages have remained stagnant, the need for housing leads to borrowing....
https://knews.kathimerini.com.cy/en/news/the-future-of-the-banking-sector-is-digital-green-and-social
The future of the banking sector is digital, green and social, said the participants at the 3rd online FMW Conference, titled "Banking System: New Challenges and Opportunities". The Conference also highlighted the contrast between trying to tame inflation by raising interest rates and supporting vulnerable groups to avoid social unrest....
https://knews.kathimerini.com.cy/en/business/the-heart-of-the-ecb-beats-in-cyprus
The second consecutive visit of European Central Bank President Christine Lagarde in 2022 is certainly semantic. Apart from the visibility of Cyprus being the first visit by Central Bank Governors as part of the decision to visit a country on an annual basis to hold one of their meetings, two other readings emerge....
https://knews.kathimerini.com.cy/en/business/loan-interest-rates-rise-for-a-second-consecutive-month
Lending interest rates in Cyprus rose for a second consecutive month in August, with credit institutions pricing rate hikes by the European Central Bank and increased credit risk due to uncertainty and inflation pressures fuelled by the war in Ukraine....
https://knews.kathimerini.com.cy/en/news/new-loans-drop-in-august-for-the-second-month-in-a-row
Net new lending granted by Cyprus Banks fell in August by €182.3 million, recording a decrease for the second month in a row....
https://knews.kathimerini.com.cy/en/news/investigating-russian-remittances-to-mount-athos
The Money Laundering Authority is investigating suspicious money transfers from abroad to the individual accounts of monks on Mount Athos....
https://knews.kathimerini.com.cy/en/news/finance-minister-calls-for-prudency-to-safeguard-economy
Cypriot Minister of Finance Constantinos Petrides, stressed on Wednesday evening the need to be “even more careful” with the fiscal discipline in the new challenging era, while Central Bank Governor Constantinos Herodotou referred to the risk of new NPLs due to the challenging economic conditions....
https://knews.kathimerini.com.cy/en/business/cypriot-businesses-face-serious-issues-but-still-expect-to-turn-a-profit
What are the main problems for Cypriot businesses (table)
...
https://knews.kathimerini.com.cy/en/business/september-newsletter-of-k-treppides-co-ltd-european-securities-and-markets-authority
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....
https://knews.kathimerini.com.cy/en/business/ecommbx-opens-new-horizons-enabled-by-its-new-banking-agreement-with-citi
ECOMMBX, a progressive Electronic Money Institution based in Nicosia, proudly announces that it has concluded a correspondent banking agreement with Citi, the world’s most global bank. This new collaboration delivers a range of benefits for both ECOMMBX as well as Cyprus, as a jurisdiction....
