FINANCE

Moody’s: Cyprus broadens capital-gains tax waiver, a credit positive for banks

Rating agency Moody’s says in its weekly “Credit Outlook” that extension of the government’s waiver of the 20% capital- gains tax to all properties sold when proceeds are used to repay proble [...]

BY Elena Economou
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Jul 20 2018

Government announced bond issuance through private placement

The Public Debt Management Office has announced the issuance of 5 government bonds for a total nominal amount of €3,19 billion maturing between 5 to 53 months with private placement towards the Cyp [...]

FINANCE
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BY Elena Economou
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Jul 18 2018

Moody’s: Sale of Bank of Cyprus UK is credit positive

Rating Agency, Moody’s, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on r [...]

FINANCE
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BY Elena Economou
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Jul 16 2018

Fitch: Hellenic’s acquisition of CCB “positive” for its credit profile

Fitch Ratings has placed Hellenic Bank ‘s Long-Term Issuer Default Rating (IDR) of `B` and Viability Rating (VR) of `b` on Rating Watch Positive (RWP), following the announcement on June 25, that t [...]

FINANCE
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BY Elena Economou
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Jul 03 2018

CBC says Co-op worst case scenario theoretical amid bank run

On Friday, customers were queuing inside and outside Co-op branches leading to an increase in withdrawals, sources familiar with the matter said. In the first three months of the year, the Co-ops saw [...]

FINANCE
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BY Elena Economou
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Jun 29 2018

Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms. According to Kathimeri [...]

FINANCE
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BY Elena Economou
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Jun 23 2018

Probe into Cooperative Bank to examine both pre and post 2013 period

The probe which the government has requested into the Cyprus Cooperative Bank will look into matters before and after 2013, President Nicos Anastasiades said on Thursday. In statements before a lunc [...]

FINANCE
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BY Elena Economou
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Jun 21 2018

ECB welcomes draft amendment of Central Bank legislation

The European Central Bank (ECB) has welcomed a bill which sets out to amend the legislation of the Cyprus Central Bank clarifying the division of competences between its decision-making bodies. The [...]

FINANCE
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BY Elena Economou
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May 17 2018

EC: Public debt to rise

Cyprus` unemployment rates will further decline to 9.0% in 2018 and 7.1% in 2019 (11.1% in 2017) according to the Spring Economic Forecast of the European Commission, published today in Brussels. Acc [...]

FINANCE
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BY Elena Economou
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May 04 2018

Privatisation process for Cyprus Cooperative Bank postponed until mid-May

The privatisation process for the Cyprus Cooperative Bank has been postponed for mid-May.Under the initial timeframe, binding offers should have been submitted next Monday.The delay was approved by t [...]