https://knews.kathimerini.com.cy/en/business/hellenic-bank-reports-€284-4m-profit-for-2024
Hellenic Bank reported a profit of €284.4 million for the first nine months of 2024, up from €240.7 million in the same period last year....
https://knews.kathimerini.com.cy/en/news/cyprus-repays-over-€1b-in-debt-easing-financial-strain
Cyprus made strides in paying down its debt in the second quarter of 2024, settling over €1 billion in bonds and loans....
https://knews.kathimerini.com.cy/en/news/new-eu-rules-open-cyprus-s-troubled-loan-market-to-foreign-investors
In a move that could reshape Cyprus's financial landscape, Parliament recently passed a European Directive that makes it easier for foreign investors to buy non-performing loans (NPLs) in the country....
https://knews.kathimerini.com.cy/en/news/cbc-urges-banks-to-show-social-responsibility-despite-sector-s-strength
The Central Bank of Cyprus (CBC) released its annual Financial Stability Report for 2023 on Tuesday, indicating that the financial sector is overall strong and capable of handling unexpected challenges. ...
https://knews.kathimerini.com.cy/en/comment/opinion/behind-the-numbers-are-cyprus-s-non-performing-loans-just-a-makeup-job
Are there good makeup artists in Cyprus? Sometimes I wonder, but since I’m out of the fashion scene, I can’t say for sure. However, when I think back to the banking events of the last 15 years, then yes—at least in the banks, they exist....
https://knews.kathimerini.com.cy/en/news/kedipes-extends-business-plan-to-2030-for-full-repayment-of-state-aid
The Cyprus Asset Management Company (KEDIPES) has extended its business plan by three years, pushing its timeline to 2030, with the goal of fully repaying the €3.54 billion in state aid received in 2018....
https://knews.kathimerini.com.cy/en/news/cyprus-falls-behind-on-eu-recovery-plan-meets-only-5-of-targets
In today's 'Oikonomiki', Panayiotis Rougalas reports that Cyprus has only achieved 5% of the milestones outlined in its Recovery and Resilience Plan (RRP), falling far behind other European Union countries in implementing reforms tied to the EU’s Next Generation funding program....
https://knews.kathimerini.com.cy/en/news/court-boosts-doctors-monthly-payments-in-€1-3-million-malpractice-case
In a recent decision, Cyprus’s Court of Appeal increased the monthly repayment amounts required from three doctors who were found liable for medical negligence. ...
https://knews.kathimerini.com.cy/en/news/cypriot-banks-slash-eurosystem-funding-by-€2-6-billion
Cypriot banks have almost zeroed funding from the Eurosystem via the Targeted Long-Term Refinancing Operations (TLTRO), with the latest data by the Central Bank of Cyprus (CBC) showing repayments amounting to €2.6 billion....
https://knews.kathimerini.com.cy/en/news/cbc-enforces-11-76-cap-on-loan-interest-rates
The Central Bank of Cyprus, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with its provisions, determines the reference interest rate to be 11.76%....
https://knews.kathimerini.com.cy/en/news/athens-warns-nicosia-to-reverse-delays-in-power-grid-project
The ambitious electricity interconnection project linking Cyprus with the European power grids through Greece faces significant hurdles as tensions rise between Athens and Nicosia....
https://knews.kathimerini.com.cy/en/news/kedipes-hits-€1-36b-milestone-in-state-aid-repayments
KEDIPES has announced a €60 million cash repayment made on June 26, 2024, as part of its ongoing efforts to repay state aid received by the former......
https://knews.kathimerini.com.cy/en/news/ministry-maintains-€300-fine-for-running-red-lights
On Thursday, the Minister of Transport, Communications, and Works, Alexis Vafeadis, was briefed on various legislative proposals submitted by parliamentarians....
https://knews.kathimerini.com.cy/en/news/agency-reports-strong-start-to-2024-continues-paying-off-state-debt
KEDIPES, Cyprus' state-owned asset management agency, announced a €144 million cash inflow for the first quarter of 2024. The agency also made a €140 million repayment to the state, bringing the total repayment to €1.3 billion since it started in September 2018....
https://knews.kathimerini.com.cy/en/business/profits-soared-in-cyprus-banking-sector-in-2023
The Cyprus banking sector experienced a significant surge in profitability by the end of 2023, as indicated by key financial indicators from the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/ecb-to-implement-first-interest-rate-cut
The European Central Bank (ECB) is poised to execute its much-anticipated rate cut, scheduled to take effect on Thursday, June 6, 2024....
https://knews.kathimerini.com.cy/en/news/banks-stress-need-for-government-support-in-esg-initiatives
Banks are urging a combination of government and regulatory policies to achieve a healthy, effective, and optimal green transition in Cyprus....
https://knews.kathimerini.com.cy/en/news/cyprus-central-bank-sets-interest-rate-limit-at-11-42
The Central Bank of Cyprus determined the reference interest rate to be 11.42%, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with the provisions of the said article....
https://knews.kathimerini.com.cy/en/news/new-investment-frontier-opens-for-citizens
Citizens now have access to and can invest in bonds issued by the Republic of Cyprus. In a recent auction by the Public Debt Management Office......
https://knews.kathimerini.com.cy/en/news/astrobank-s-record-breaking-year-€30-4m-in-profits-for-2023
AstroBank reported Profit After Tax of €30.4 million for 2023, representing a return on equity (RoE) of 13.9%, compared with €12.2 million and RoE of 6.2% for 2022, achieving an increase on profit of 150%, mainly due to increased interest income....
https://knews.kathimerini.com.cy/en/news/kedipes-introduces-plan-to-help-borrowers-repay-home-loans
The Cyprus Asset Management Company (KEDIPES) has unveiled a new initiative aimed at assisting borrowers in repaying their home loans....
https://knews.kathimerini.com.cy/en/news/kedipes-pays-state-€140m-in-largest-quarterly-sum-yet
In the largest quarterly cash repayment to the state since its inception in 2018, totaling €140 million, the Board of Directors of KEDIPES decided to proceed for the first quarter of 2024. ...
https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-€80-million-surge-in-state-budget-deficit-for-2023
The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....
https://knews.kathimerini.com.cy/en/business/kedipes-successfully-sells-€58-4m-portfolio-to-reduce-debt
The Cyprus Asset Management Company (KEDIPES) announced Thursday the successful completion of a sale of performing and restructured loan portfolios to Bank of Cyprus Public Company Limited, with a combined gross book value of €58.4 million as of December 31, 2022....
https://knews.kathimerini.com.cy/en/news/over-3800-households-apply-for-photovoltaics-for-all-project
According to data from the Renewable Energy Fund, 3863 applications have been submitted by households to participate in the "Photovoltaics for All" project....
https://knews.kathimerini.com.cy/en/news/how-to-apply-for-the-photovoltaic-project-for-your-home
The Greek Ministry of Energy has launched Category A3 of the grants scheme to promote the use of Renewable Energy Sources (RES) and Combined Heat and Power (CHP) systems in residential buildings for 2024-2025.
...
https://knews.kathimerini.com.cy/en/news/european-parliament-honors-navalny-amidst-food-inflation
The European Parliament will commemorate the life of Russian activist Alexei Navalny, featuring an address by his wife, Yulia Navalnaya, in its plenary session this week in Strasbourg......
https://knews.kathimerini.com.cy/en/news/phone-ringing-debt-ignored-cyprus-faces-loan-repayment-hurdles
Despite efforts to reduce Non-Performing Loans (NPLs) in Cyprus, the lingering burden continues to weigh heavily on the country's economy and society....
https://knews.kathimerini.com.cy/en/news/cyprus-government-achieves-significant-debt-reduction-in-2023
The Cyprus government reported that the island nation ended 2023 with a debt of €22.4 billion, constituting around 99% of the Republic of Cyprus' total debt. This marks a notable reduction of €689 million or 3% from the corresponding period in the previous year....
https://knews.kathimerini.com.cy/en/news/banks-urged-to-accelerate-loan-restructurings
The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....
