FINANCE

BoC Looking at the Creation of a ‘Development Bank’ to Deal With NPLs

The Board of Directors of Bank of Cyprus (BoC) is expected to decide at a meeting today whether to proceed with the creation of a separate unit, a “development bank”, to help deal with the proble [...]

BY OPulse Admin
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Apr 27 2014

CB governor supports tough action on NPLs

OUTGOING Central Bank governor Panicos Demetriades said on Wednesday that banks must be allowed to seize assets, and borrowers who intentionally fail to repay loans must be penalised. Wading into the [...]

FINANCE
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BY OPulse Admin
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Apr 26 2014

Parliament lifts bank bailout burden from taxpayers

Depositors are to be better protected by one of a number of measures approved by the European Parliament earlier today and there will be less political meddling to keep ailing bank costs down. THREE m [...]

FINANCE
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BY OPulse Admin
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Apr 19 2014

Cyprus police issues arrest warrant for bitcoin entrepreneur

DANNY Brewster, CEO of bitcoin vendors Neo & Bee, is wanted by police on suspicion of fraud. Police issued an arrest warrant for Brewster on Friday. Sources told the Cyprus Mailthat Brewster is � [...]

FINANCE
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BY OPulse Admin
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Apr 11 2014

CB governor supports tough action on NPLs

FINANCE
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BY OPulse Admin
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Apr 03 2014

Cyprus scraps maximum daily cash withdrawal limits

FINANCE
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BY OPulse Admin
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Mar 31 2014

Non-performing loans continue to mount

ACCORDING to the latest data from the Central Bank of Cyprus, non-performing loans at the end of January rose to €26.5 billion. The Central Bank reports that non-performing loans with the commercial [...]

FINANCE
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BY OPulse Admin
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Mar 28 2014

Central bank governor resigns

The Governor of the Central Bank of Cyprus Panicos Demetriades has resigned citing “family and personal” reasons for his departure and “difficulty in cooperating with the Board of Directors” C [...]

FINANCE
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BY OPulse Admin
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Mar 11 2014

Property tax chaos may continue..

Although government policy on Immovable Property Tax has not changed, the Inland Revenue has expressed serious doubts as to whether there is sufficient time to complete the work necessary. ACCORDING t [...]

FINANCE
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BY OPulse Admin
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Mar 08 2014

Evidence of improving banking sector stability

The Bank of Cyprus leadership believes there is evidence of improving stability in the Bank and generally in the banking sector and points out that it is fully committed to restoring the confidence of [...]