https://knews.kathimerini.com.cy/en/business/boc-first-quarter-of-2023-yields-€95-million-in-profit
Bank of Cyprus has released its financial report for Q1 2023, showcasing robust performance and positive indicators across various key metrics....
https://knews.kathimerini.com.cy/en/news/why-do-young-people-in-cyprus-struggle-to-secure-a-home-loan
Young people are facing difficulties in securing mortgage loans due to a number of factors, according to economist Tasos Yasemidis....
https://knews.kathimerini.com.cy/en/news/us-congressman-arrested-for-fraud-and-money-laundering
US Republican congressman George Santos has been arrested in New York on federal charges of fraud, money laundering and theft of public funds....
https://knews.kathimerini.com.cy/en/news/central-bank-governor-projects-higher-economic-growth-for-2023
On Tuesday, Constantinos Herodotou, the Governor of the Central Bank of Cyprus, announced that the Cypriot economy is projected to grow in 2023 at a higher rate than the Eurozone average. ...
https://knews.kathimerini.com.cy/en/business/interest-rates-rise-for-housing-and-corporate-loans
Interest rates for housing loans in March 2023 increased by 1.25% compared to February 2023, while interest rates for corporate loans also rose, according to statistics released Friday by the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/loans-surge-in-march-2023-a-mix-of-new-and-renegotiated-contracts
Total new loans recorded an increase to €922.5 million in March 2023, compared with €527.5 million in the previous month, according to data released Friday by the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/business/expanding-profitability-and-strengthening-capital-position
Group Financial Results for the year ended December 31, 2022...
https://knews.kathimerini.com.cy/en/business/astrobank-reward-plan-for-good-borrowers
Astrobank is currently developing a plan to reward its consistent borrowers by providing relief for those who have mortgage loans worth up to €350,000....
https://knews.kathimerini.com.cy/en/news/banks-announce-measures-on-interest-rates
Since July 2022, lending rates in Cyprus have risen by 3.5%, putting borrowers in a difficult position with dangerously increasing loan repayments....
https://knews.kathimerini.com.cy/en/news/cyprus-2022-household-assets-reach-€59-7b-debt-at-€20b
In December 2022, the total value of financial assets held by households was €59.7 billion. Out of this amount, 62% was invested in currency, deposits, and loans, 2% was allocated to debt securities, 19% was invested in stocks, and the remaining 17% was invested in other types of financial instruments....
https://knews.kathimerini.com.cy/en/news/cyprus-deposits-reach-€51-9b-loans-at-€25-1b-in-march-2023
Total deposits reached €51.9 billion in March 2023, while total loans stood at €25.1 billion, according to data published by the Central Bank of Cyprus on Tuesday, in the April 2023 edition of Monetary and Financial Statistics....
https://knews.kathimerini.com.cy/en/news/bbc-chairman-resigns-over-conflict-of-interest
Richard Sharp has resigned as chairman of the BBC after a report found he broke the rules by failing to disclose the role he played in helping Boris Johnson secure an £800,000 loan....
https://knews.kathimerini.com.cy/en/news/gov-t-officials-submit-asset-declarations-who-holds-the-most-valuable-property
The deadline for submitting the Asset Declarations by members of the new Government, as provided by legislation, ends today, Thursday, April 27th....
https://knews.kathimerini.com.cy/en/news/non-performing-loans-in-cyprus-rise-to-€2-32-billion-in-january-2023
Non-performing loans (NPLs) rose by €12.8 million in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans....
https://knews.kathimerini.com.cy/en/news/central-bank-governor-sanctions-impact-on-economy-not-significant-so-far
The Governor of the Central Bank of Cyprus, Constantinos Herodotou, was received on Friday morning (21/04) by the President of the Republic, Nicos Christodoulides. ...
https://knews.kathimerini.com.cy/en/comment/opinion/the-real-estate-industry-s-crucial-turning-point
The European Parliament recently approved a new bill that aims to tackle climate change by reducing carbon emissions. This new legislation has significant implications for the property markets in Cyprus and Greece, where there is a large stock of buildings over 30 years old and requiring energy upgrades....
https://knews.kathimerini.com.cy/en/business/finance-minister-considers-lowering-vat-rates-for-basic-necessities
The Minister of Finance of Cyprus, Makis Keravnos, has announced that the Ministry is considering measures for banks and credit-acquiring companies to absorb high-interest rate increases, as well as reducing value-added tax (VAT) for basic necessity products to tackle high prices....
https://knews.kathimerini.com.cy/en/news/finance-minister-requests-containment-of-lending-rates-for-housing-loans
The Finance Minister of Cyprus, Makis Keravnos, has written letters to the Director General of the Cyprus Banks Association and the Director General of the Association of Credit Acquisition Companies and Credit Facility Managers, requesting measures to control rising lending rates for serviceable loans up to €350,000....
https://knews.kathimerini.com.cy/en/business/numerous-foreclosure-sales-expected-in-2023-and-2024
The COVID-19 pandemic and the subsequent suspension of divestments since 2020 have led to the creation of a considerable volume of properties for disposal that banks and credit purchase companies have on their balance sheets....
https://knews.kathimerini.com.cy/en/business/three-major-concerns-of-ecb-regarding-cypriot-banks
Although Cypriot banks have made great progress over the last decade, foreign supervisors have reservations and summarise their concerns in three areas....
https://knews.kathimerini.com.cy/en/news/greek-banks-freeze-mortgage-installments-for-12-months
Eurobank, Piraeus and Alpha Bank have announced that they will be keeping mortgage installments at their current levels for 12 months. As pledged by the first two banks, the baseline rates of serviced mortgage loans will remain at the levels they were on March 31, 2023, minus 20 basis points, for 12 months, starting in May. National Bank is expected to follow suit....
https://knews.kathimerini.com.cy/en/news/minister-of-agriculture-announces-his-four-priorities
Minister of Agriculture, Petros Xenophontos, outlined his four priorities for the agriculture sector during an interview on the DIASPORA news show. ...
https://knews.kathimerini.com.cy/en/business/prem-watsa-greek-banks-are-safer
Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....
https://knews.kathimerini.com.cy/en/business/herodotou-european-banking-system-in-good-health
Governor of the Central Bank of Cyprus (CBC) Constantinos Herodotou said on Wednesday that there’s concern that the banking problems with some European banks could evolve into something bigger....
https://knews.kathimerini.com.cy/en/news/finmin-stresses-importance-of-stable-legislation-for-out-of-court-auctions
The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....
https://knews.kathimerini.com.cy/en/news/bank-deposits-increase-by-€357-1-million-in-february
Total deposits in February 2023 recorded a net increase of €357.1 million, compared with a net decrease of €583,8 million in January 2023....
https://knews.kathimerini.com.cy/en/news/keravnos-urges-banks-to-restructure-loans-and-keep-rates-low
Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...
https://knews.kathimerini.com.cy/en/news/herodotus-to-banks-on-restructuring-interest-rates-and-transparency-in-charges
The Governor of the Central Bank, Constantinos Herodotou, emphasized to the Senior Executive Directors of licensed credit institutions the importance of the timely provision of viable restructurings, as well as the assessment of their data regarding the level of their deposit rates....
https://knews.kathimerini.com.cy/en/news/cyprus-banking-system-ready-to-absorb-shocks
Tasos Yasemidis, an economist, spoke to "SPOR FM 95.0" and the "DIASPORA NEWS" show about the deal for the acquisition of Swiss bank Credit Suisse by UBS and how it affects the banking sector in Cyprus, ...
https://knews.kathimerini.com.cy/en/news/ubs-steps-in-to-buy-rival-credit-suisse
Some of the world's largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal...
