https://knews.kathimerini.com.cy/en/news/vaccinations-the-main-economic-tool-in-managing-covid-crisis
Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic....
https://knews.kathimerini.com.cy/en/comment/opinion/property-valuations-and-uncertainty-clauses
Property appraisers in this country have had to deal with unprecedented events in the last seven to eight years that forced them to make use of the so-called 'uncertainty clauses' in their real estate estimates...
https://knews.kathimerini.com.cy/en/business/industrial-logistics-most-attractive-post-covid-19
Following the breakout of the COVID-19 pandemic, the Industrial/Logistics asset class has presently become the most attractive financing option for a majority of banks in Central & Eastern Europe, according to the results from the latest edition of KPMG’s Property Lending Barometer...
https://knews.kathimerini.com.cy/en/news/cyprus-experiencing-excessive-macroeconomic-imbalances
The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....
https://knews.kathimerini.com.cy/en/news/banks-must-prepare-for-a-new-cycle-of-npls-due-to-covid-19
Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....
https://knews.kathimerini.com.cy/en/business/kpmg-property-lending-barometer-2020
https://knews.kathimerini.com.cy/en/news/moody-s-payment-holidays-shield-cyprus-banks-in-2020-but-deterioration-likely-in-2021
Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...
https://knews.kathimerini.com.cy/en/news/market-sentiment-looking-up-finmin-says
Market sentiment is looking up, Finance Minister Constantinos Petrides said Tuesday after a broad meeting at the Presidential Palace between President Nicos Anastasiades and representatives of financial institutions....
https://knews.kathimerini.com.cy/en/news/the-market-needs-oxygen-finmin-says
The market needs oxygen, Finance Minister Constantinos Petrides said Monday, stressing that the least citizens expect from politicians is to reach a consensus in order to support the economy in line with a prudent policy without placing it in further danger....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/over-23-000-applications-filed-for-suspension-of-loan-payments
More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....
https://knews.kathimerini.com.cy/en/news/loan-payments-to-be-suspended-for-nine-months
After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months....
https://knews.kathimerini.com.cy/en/news/government-considering-to-give-banks-€2b-in-state-guarantees-to-unlock-credit
The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....
https://knews.kathimerini.com.cy/en/news/banks-must-find-new-profitable-products-cbc-governor-says
The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....
https://knews.kathimerini.com.cy/en/news/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...
https://knews.kathimerini.com.cy/en/news/central-warns-banks-‘not-to-overdo-it
The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...
https://knews.kathimerini.com.cy/en/business/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....
https://knews.kathimerini.com.cy/en/news/moody-s-changes-cyprus-outlook-to-positive
Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...
https://knews.kathimerini.com.cy/en/business/four-new-partners-at-harris-kyriakides-llc
Harris Kyriakides LLC announces four new partners in the company. As of the 1st of September 2019 the new partners are Andreas Anagnostou, Myria Loizou, Georgia Karamalli and Nicolas Kyriakides.
...
https://knews.kathimerini.com.cy/en/news/estia-scheme-kicks-in-for-eligible-borrowers
The Estia plan aimed at boosting borrowers’ ability to repay their defaulted loans went into effect on Monday, as the Cypriot government embarks on a scheme to subsidize repayments of restructured loans...
https://knews.kathimerini.com.cy/en/business/scope-rates-cyprus-with-bbb
Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...
https://knews.kathimerini.com.cy/en/news/finance-committee-seeks-compromise-on-foreclosures
The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...
https://knews.kathimerini.com.cy/en/news/s-p-affirms-bank-of-cyprus-ratings
Standard & Poor’s affirmed on Tuesday their `B+/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC), noting that the outlook is stable...
https://knews.kathimerini.com.cy/en/news/ecb-warns-of-significant-negative-impact
The European Central Bank (ECB) has warned of “significant negative impact” to the Cypriot banking system in case a new law amending the legal on foreclosures is implemented.
...
https://knews.kathimerini.com.cy/en/news/central-banker-mulls-bridging-framework-on-foreclosures
The Central Bank will present recommendations aimed at rectifying the foreclosure framework it was announced on Thursday...
https://knews.kathimerini.com.cy/en/news/moodys-warns-foreclosure-laws-increase-risk-for-banks
Cyprus’ new foreclosure framework hampers banks efforts to reduce NPLs said credit rating agency Moody's in an announcement on Thursday....
https://knews.kathimerini.com.cy/en/news/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...
https://knews.kathimerini.com.cy/en/news/bank-culture-should-change-central-bank-governor-says
https://knews.kathimerini.com.cy/en/news/cyprus-one-of-the-success-stories-of-esm
https://knews.kathimerini.com.cy/en/business/cbc-ready-to-examine-ambiguities-in-aml-laws