https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-trends-in-2023
Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....
https://knews.kathimerini.com.cy/en/news/finance-minister-calls-on-banks-to-delay-foreclosures
The Finance Ministry is considering possible actions to tackle non-performing loans and is examining a set of measures aiming to address the issue, ...
https://knews.kathimerini.com.cy/en/news/foreclosure-sales-to-restart-after-parliamentary-vote
The House of Representatives voted 22 to 18 against a proposal for a new three-month suspension of foreclosure sales, which had been tabled in the form of an emergency bill....
https://knews.kathimerini.com.cy/en/news/lower-deposit-and-mortgage-interest-rates
The interest rates for household deposits and housing loans slightly decreased in January, while interest rates for non-financial corporations increased, according to data published by the Central Bank of Cyprus on Friday. These statistics are included in the February 2023 Monetary and Financial Statistics edition....
https://knews.kathimerini.com.cy/en/news/cbc-deposits-and-loans-decreased-in-january
Deposits and loans recorded a net decrease this January, according to data published by the Central Bank of Cyprus on Tuesday....
https://knews.kathimerini.com.cy/en/business/ey-presents-report-on-the-future-of-banking-in-cyprus
The report showcases the importance and contribution of Cypriot banks to the wider economy and society, and identifies current and upcoming challenges and opportunities...
https://knews.kathimerini.com.cy/en/business/2023-will-be-the-year-banks-dole-out-dividends
Apart from entering 2023 with inflationary tendencies and following a year with a geopolitical crisis due to the Ukrainian one, it is expected to be the year when the term "dividend distribution,"...
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-71-million-in-profits-in-2022
Bank of Cyprus' profit for 2022 was 71 million euros, up from 30 million euros in 2021....
https://knews.kathimerini.com.cy/en/business/rate-of-npl-s-unchanged-in-november-2022
Non-performing loans (NPLs) in the Cyprus banking system remained unchanged in November, with the NPL rate to total loans unchanged at 10.5%....
https://knews.kathimerini.com.cy/en/news/interest-rates-in-cyprus-continues-its-steady-rise
Interest rates in the Cypriot banking system continued rising in December in the context of the ECB’s monetary normalization policy to tackle high inflation....
https://knews.kathimerini.com.cy/en/news/eurostat-cyprus-had-the-highest-stock-of-npl-s-in-2021
In 2021, Cyprus remained the country with the highest stock of non-performing loans (assets) of the general government, at 20.2% of GDP, according to data released by Eurostat, the statistical service of the EU....
https://knews.kathimerini.com.cy/en/news/wronged-worker-slams-cyprus-over-migration-crisis
Thousands of asylum seekers in Cyprus were sent back to their countries last year but one foreign worker, who feels he has no good options following a dispute with his employer, says many people who come to work on the island are forced to seek asylum because the system is not in their favor...
https://knews.kathimerini.com.cy/en/news/cbc-household-debt-at-77-of-gdp
The household debt ratio stood at 77% of the Gross Domestic Product (GDP) at the end of September 2022, marking a slight decrease compared to the previous quarter, due to the increase in GDP, according to data published by the Central Bank of Cyprus on its website on Tuesday, in the "Quarterly Financial Accounts" edition, for the reporting quarter ending September 2022. ...
https://knews.kathimerini.com.cy/en/news/a-large-number-of-foreclosure-notices-to-be-sent-tomorrow
Today, Tuesday, January 31, 2023, marks the end of the most recent three-month suspension of divestments imposed by a resolution of the House of Representatives. ...
https://knews.kathimerini.com.cy/en/news/deposits-up-by-more-than-€0-5-billion-in-december-2022
Deposits in the Cypriot banking system rose by almost €590 million in December 2022 with total deposits in end-2022 amounting to €52 billion....
https://knews.kathimerini.com.cy/en/business/banks-are-revising-lending-rates
Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...
https://knews.kathimerini.com.cy/en/business/herodotou-calls-for-increased-vigilance-to-avert-private-debt-defaults
Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....
https://knews.kathimerini.com.cy/en/news/finance-minister-responds-to-cbs-disinformation-and-fake-news
The report on the CBS show '60 Minutes' about Russian oligarchs was referred to by the Finance Minister in his detailed response on the issue. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-vulnerabilities-remain-despite-progress-says-ssm
Cypriot banks have made progress, according to a report by the Single Supervisory Mechanism (SSM), but there are still many issues. ...
https://knews.kathimerini.com.cy/en/business/npl-s-decreased-by-€32-million-to-€2-69-billion-in-october-2022
Non-performing loans (NPLs) at the end of October 2022 amounted to €2.69 billion, showing a decrease of €32 million compared to the previous month....
https://knews.kathimerini.com.cy/en/news/new-loans-up-despite-interest-rate-hike
Total new loans in November 2022 increased by €172.8m compared to the previous month, despite an increase in interest rates across all loan categories. ...
https://knews.kathimerini.com.cy/en/business/the-landscape-of-bank-equity-is-changing-in-cyprus
A day before 2022 came to an end, Eurobank made the announcement that it had added 3.2% more shares of Hellenic Bank, bringing its total to 29.2% (pending regulatory approval), and altering the bank's balance "for good"....
https://knews.kathimerini.com.cy/en/news/finance-ministry-cyprus-economy-will-not-enter-a-recession
There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...
https://knews.kathimerini.com.cy/en/news/boris-becker-released-from-uk-jail-will-be-deported
Former Wimbledon champion Boris Becker has been released from jail today and will be deported from the UK, according to the PA news agency....
https://knews.kathimerini.com.cy/en/business/€36-million-loss-so-far-reported-by-banks-this-year
The banking system reported a loss after tax of €36 million on a consolidated basis in the first nine months of 2022, compared to a profit of €22.54 million in the corresponding period of 2021....
https://knews.kathimerini.com.cy/en/news/nicosia-stays-course-as-economic-growth-loses-steam
Cypriot public finances have improved due to increased growth, although they are expected to be adversely affected due to a projected slowdown in the next few months, according to the 13th Post-Programme Surveillance Report for Cyprus...
https://knews.kathimerini.com.cy/en/news/cyprus-gets-taste-of-eu-s-€85-million-with-a-caveat
Cyprus will get Friday the first tranche of €85 million from the EU's Recovery and Resilience Mechanism, with European Commission technocrats also pointing to repeated suspensions of foreclosures in Cyprus that create problems in terms of achieving the goal of further reduction of NPLs...
https://knews.kathimerini.com.cy/en/business/€76-4m-profit-in-first-9-months-of-2022-for-hellenic
Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...
https://knews.kathimerini.com.cy/en/business/world-s-largest-crypto-exchange-platform-to-set-up-shop-in-cyprus
The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-the-effects-of-global-warming-on-banks-and-insurance-companies
One of the last print editions of the Economist had the title ‘Say goodbye to 1.5° C’ which refers to the goal of limiting the increase in the average temperature of the planet to 1.5 degrees Celsius...
