FINANCE

Three investors interested in co-op bank

Three investors are interested in the co-op bank, as the procedure to dispose of the state-controlled lender enters its final stretch, it was reported on Friday. According to the Cyprus News Agency, b [...]

BY Elena Economou
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Apr 21 2018

EU push for ‘good’ part of Co-op to merge with local lender

The European Central Bank (ECB) seems to favour merging the performing operations of the Cyprus Cooperative Bank (CCB) with another Cypriot lender, Finance Minister Harris Georgiades said on Thursday [...]

FINANCE
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BY Elena Economou
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Apr 19 2018

Attracting investor interest for Co-op Bank ‘a must’, financial ombudsman says

Attracting investor interest for the Cyprus Cooperative Bank is a must and a move everyone should contribute in, in order to shield the Cypriot economy, Financial Ombudsman Pavlos Ioannou has said. Ad [...]

FINANCE
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BY Elena Economou
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Apr 16 2018

State’s €2.5bn for co-op ‘allays depositor fears’

The government’s action to deposit €2.5bn at the co-op bank reassures customers not to worry about their money, its spokesman said on Wednesday. “This huge deposit sends the message to the rest [...]

FINANCE
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BY Elena Economou
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Apr 05 2018

Government tries to allay fears of co-op customers

The government on Monday said it was moving to shore up confidence in the Cyprus Cooperative Bank (CCB) as depositors pulled more money out of the lender. Neither the government nor the state-owned ba [...]

FINANCE
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BY Elena Economou
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Apr 03 2018

BoC CEO pushes for action on NPLs

The Bank of Cyprus CEO John-Patrick Hourican on Wednesday urged the business community in Cyprus to increase the legal and political pressure to move towards a faster solution to the issue of non-perf [...]

FINANCE
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BY Elena Economou
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Mar 29 2018

ECB, ESM, IMF, Commission call on Cyprus to renew reform momentum

he ECB, ESM, IMF and the European Commission call on Cyprus to renew reform momentum, reduce the current level of NPLs through legislation and maintain sound public finances, in a report compiled duri [...]

FINANCE
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BY Elena Economou
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Mar 27 2018

House Finance Corporation extends loan facilities

The Housing Finance Corporation (HFC) is expanding its low-interest lending activities to household goods, overdrafts, student and medical loans, it announced on Wednesday. The corporation, which has [...]

FINANCE
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BY Elena Economou
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Mar 22 2018

Cyprus to launch new tender for LNG import in April

Cyprus’ Natural Gas Public Company (DEFA) will launch two separate tenders for the import of liquefied natural gas (LNG) this year to facilitate the use of LNG for electricity generation by January [...]

FINANCE
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BY Elena Economou
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Mar 21 2018

Co-op high-tech feature to lure investors

The co-op bank on Monday opened a virtual data room that will be used by potential investors to securely exchange data and analyses, as the lender seeks to reduce the state’s share. The procedure la [...]