FINANCE

Hourican to leave from Bank of Cyprus in September

Bank of Cyprus Holdings Public Limited Company and Bank of Cyprus Public Company Limited announce that last evening its Group Chief Executive Officer, Mr John Patrick Hourican, informed the Boards of [...]

BY OPulse Admin
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Mar 05 2019

The message for BoC’s ‘Helixed’ customers

A LATE-NIGHT announcement by Bank of Cyprus last Tuesday threw a good deal of light on the goings on in the bank’s progress in 2019. The announcement covered three issues: Capital Requirements, Heli [...]

FINANCE
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BY Elena Economou
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Feb 25 2019

Fund managers take the lion’s share in 15-year bond issuance

Fund Managers took the lion’s share in the issuance of the first ever 15-year bond by Cyprus, with 55% of the allocations, followed by banks (20%) and insurance and pension funds (10%), the Ministr [...]

FINANCE
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BY Elena Economou
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Feb 22 2019

Moody’s: Estia is positive for banks

Release of funds to subsidise nonperforming mortgage loan repayments is credit positive for Cyprus' banks, according to Moody’s rating agency. On 21 January, Cyprus' parliament, through its finance [...]

FINANCE
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BY Elena Economou
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Jan 29 2019

Moody’s upgrades Bank of Cyprus’ and Hellenic Bank’s deposit ratings

Moody’s Investors Service on Thursday said it had upgraded Bank of Cyprus and Hellenic Bank long-term deposit ratings to B3 from Caa1, and their long-term Counterparty Risk Ratings (CRRs) to B1 fr [...]

FINANCE
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BY Elena Economou
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Jan 25 2019

Hellenic Bank announces record profits after acquiring Cooperative Cyprus Bank

Hellenic Bank posted record profits amounting to €295.9 million for the period that ended on 30 September after acquiring the performing part of the Cooperative Cyprus Bank (CCB).In late June 2018 [...]

FINANCE
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BY Elena Economou
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Dec 20 2018

State aid: Commission approves Cypriot “ESTIA” scheme

The European Commission has approved under EU State aid rules the Cypriot “ESTIA” scheme to support private households and micro-companies that have encountered difficulties in repaying mortgage [...]

FINANCE
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BY Elena Economou
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Dec 03 2018

Economic sentiment up in November

Economic sentiment improved in Cyprus in November due mainly to services and retail trade.In particular, the Economic Sentiment Indicator (ESI) which is compiled by the University of Cyprus Economic [...]

FINANCE
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BY Elena Economou
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Nov 30 2018

DBRS upgraded Cyprus’ economy to investment grade

DBRS Ratings Limited (DBRS), in a Friday’s report, upgraded the Republic of Cyprus’s Long-Term Foreign and Local Currency – Issuer Ratings from BB to BBB (low) and its Short-Term Foreign and Lo [...]

FINANCE
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BY Elena Economou
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Nov 27 2018

FinMin: Practices of maintaining large non-EU deposits and shell companies are over

The practices of maintaining large deposits by non-EU citizens accompanied with shell companies (companies with no physical presence) are finished, Cyprus Minister of Finance Harris Georgiades has sa [...]