Search

31. Four Cypriot companies exposed to SVB and Signature Bank fallout

Four companies licensed by the Cyprus Securities and Exchange Commission (CySEC) had deposited at Silicon Valley Bank and Signature Bank, the two US banks that failed, causing turmoil in the global economy....

32. It's been 10 years since the haircut

In March 2023, Cyprus will mark 10 years since the deposit haircut. Ten years after the 2013 crisis, Cyprus looks completely different. During this decade, many changes have taken place and its citizens have experienced many different situations,...

33. Banks around the world feel force of SVB fallout

U.S. President Joe Biden vowed to do whatever was needed to address a threatened banking crisis after the collapses of Silicon Valley Bank and Signature Bank forced regulators to step in with emergency measures....

34. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

35. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

36. FT: The Bank of Cyprus/Lone Star deal is not just about price

Cyprus has attracted a different sort of visitor recently. US buyout group Lone Star has taken an interest in Bank of Cyprus, the island nation’s largest lender....

37. Woman forcibly takes savings from Beirut bank using toy gun (video)

A woman accompanied by activists and brandishing what she said was a toy pistol broke into a Beirut bank branch on Wednesday, taking $13,000 from her trapped savings....

38. President signs controversial foreclosure law

A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...

39. Cypriot minister lashes out at ‘populist’ lawmakers

Cypriot Finance Minister Constantinos Petrides lashed out at lawmakers on Tuesday warning against “dangerous and unrestrained populism” after members snubbed a presidential veto on three crucial pieces of legislation...

40. Foreclosures suspended until the end of October 2022

The Cyprus Parliament on Thursday passed a bill suspending foreclosures until the end of October,...

41. RCB finalizes sale of its loan portfolio to Hellenic

RCB Bank Ltd announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank Public Company Ltd has been successfully completed....

42. Lebanese banks in Cyprus to shut down amid the country's financial crisis

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....

43. Cyprus' RCB Bank and its Kremlin ties

On March 24, Cyprus’s fourth-largest bank announced it would wind down its banking operations in the wake of the “volatile geopolitical situation” caused by Russia’s invasion of Ukraine a month earlier....

44. RCB Bank invites depositors to withdraw their money

RCB Bank will invite its depositors to withdraw their money. According to Kathimerini sources, RCB Bank customers are expected to be able to either receive their deposits on hand or transfer them to other Cypriot banks....

45. Russian bank subsidiary in Europe collapses

While the Moscow Stock Exchange remains closed for a third straight day and the ruble is losing value inside and outside Russia, heading back to Monday's record low again, the ECB yesterday confirmed the first bankruptcy of a subsidiary in Europe caused by sanctions and massive withdrawals. ...

46. Cypriot banks to reduce costs

The President of the European Banking Authority speaks to "K"...

47. Anastasiades takes the stand in passports probe

Cyprus’ citizenship by investment scheme will not be revived but other incentives will be given to attract investments, excluding citizenship, President Nicos Anastasiades said on Tuesday, following a 3-hour-long testimony before the investigative committee probing Cyprus’ nixed citizenship-by-investment scheme....

48. Hellenic Bank posts profit of €59.1 million in first half of 2019

The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank. ...

49. Moody's upgrades Bank of Cyprus and Hellenic Bank

50. 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...

51. #PoliticsBlog End of an era and Harris’ bitter chalice

Journalists often abuse the term 'end of an era' but in the case of the Cyprus Cooperative Bank, these words totally fit the bill...

52. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

53. Capital controls eased further as of Monday

Capital controls were eased further on Monday with depositors now permitted to withdraw a monthly maximum of 5,000 euros from bank accounts, up from 2,300 euros....

54. Cypriots beef up home security in wake of horrific crimes

Cypriots are beefing up home security in the wake of horrific and largely unexplained crimes, despite police saying crime has gone down on the island...

55. Don’t get caught up in the East Med energy hype

It is tempting for resource-poor countries to overestimate the promise of newly discovered hydrocarbon resources, particularly in times of need...

56. Cyprus recovery is being recognised by international agencies

Fitch does not currently anticipate developments with a high likelihood of leading to a downgrade...

57. Co-op suffered 'nightmare' bank run

A top official at the Cooperative Bank says more money was lost in bank deposits first quarter this year, just shy of 2 billion, than the outflow during the 2013 crisis....

58. Georgiades makes a “good case” for Co-op sell-off

Borrowers who default on a loan won’t be able to pick up the phone and ask a politician to intervene, according to Finance Minister Harris Georgiades, who insists that separating healthy banking from bad loans is the best way forward for the Cyprus Cooperative Bank....

59. Cooperative bank outflow appears to have stopped

The Cyprus finance minister says outflow has stopped at the state-owned Cyprus Cooperative Bank, following a €2.5 billion deposit by the government that is seeking private investors for the troubled institution....

60. Cyprus Cooperative Bank gets €2.5 billion deposit

The Cyprus government says it is depositing €2.5 billion at the Cooperative Bank of Cyprus, as part of a broader plan to eliminate uncertainty among depositors in the wake of a privatisation bid...