FINANCE

RCB Bank Named Safest Bank in Cyprus for Third Consecutive Year

RCB Bank for the third consecutive year has won the prestigious “Safest Bank in Cyprus” award by the internationally renowned Global Finance magazine. In its exclusive annual survey, which serves [...]

BY Elena Economou
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Nov 15 2018

Unions ‘only stone not upturned’ by banks

After tackling non-performing loans, the volume of which he believes will go down very fast in the next year, unions are “the only stone not upturned”, Hellenic Bank CEO Yiannis Matsis told the 14 [...]

FINANCE
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BY Elena Economou
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Nov 03 2018

Cyprus bond achieves the best borrowing rate

The Cyprus ten-year bond issued on Tuesdayrepresents the lowest reoffer yield and the lowest coupon that the country has ever achieved in international capital markets for a benchmark size euro-deno [...]

FINANCE
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BY Elena Economou
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Sep 20 2018

Hellenic Bank: €35m net profit in first half of 2018

Hellenic Bank posted a €35 million net profit for the first half of 2018, with the bank’s CEO Ioannis Matsis stating that the bank is ready to launch a tender for the sale of a portfolio of non-p [...]

FINANCE
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BY Elena Economou
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Sep 11 2018

Hellenic Bank shareholders approved capital raise

The shareholders of the Hellenic Bank approved Wednesday an equity capital increase of €150 mn required to complete the acquisition of Co-op bank assets.Chairman of the Board of Directors Yussef Na [...]

FINANCE
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BY Elena Economou
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Aug 25 2018

Around 1000 bank employees opt for Co-op voluntary retirement scheme

Around 1000 bank employees have opted to take the voluntary retirement scheme offered by the Cyprus Cooperative Bank, according to trade union estimations, while the deadline ends today at 15.00 loca [...]

FINANCE
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BY Elena Economou
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Aug 22 2018

Investment funds and their assets increase

Τhe number of investment funds increased to 130 in June 2018, compared with 123 in March 2018, a press release issued by the Central Bank of Cyprus has said. The Bank released on Monday the invest [...]

FINANCE
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BY Elena Economou
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Aug 21 2018

Trade unions endorse VRS for 900 employees in the CCB

Trade Unions PEO, SEK and PASYDY endorsed on Thursday a voluntary retirement scheme (VRS) for 900 employees of the state-owned Cyprus Cooperative Bank (CCB) in the context of a deal for the transfe [...]

FINANCE
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BY Elena Economou
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Jul 27 2018

Hellenic Bank: CPC gives green light for the acquisition

Hellenic Bank announced that it has received clearance of the Acquisition by the Commission for the Protection of Competition (“CPC”) of the Republic of Cyprus. According to a statement, on 24 J [...]

FINANCE
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BY Elena Economou
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Jul 26 2018

FinMin: Assures of government's commitment to balanced budget

Minister of Finance Harris Georgiades has assured the leadership of the Fiscal Council of the government`s firm commitment to balanced budgets and the avoidance of any fiscal deficits.The Minister he [...]