NPFs drop a further €175 million in July-September 2019, Central Bank says

Central Bank: Non-Performing Financing records further decrease

A further decrease of €175 million or 1.8% was recorded in aggregate NPFs at the end of September 2019, compared to the end of June 2019, and, as a result, a fall in the...
Euro area records €225.7 bn trade surplus in 2019 and Cyprus €5.1bn trade deficit

Euro area records trade surplus; Cyprus records trade deficit

From January to December 2019, euro area exports of goods to the rest of the world rose to €2 345.4 bn (an increase of 2.7% compared with January-December 2018), and imports rose to €2...
Economics Research Center: Robust economic activity in Cyprus expected in 2020

Theodoros Mantis: Changes Needed to Attract Companies of Foreign Interests

In recent years, the aim of the state has been to promote Cyprus as an attractive investment destination and as a credible business center, through the attraction and establishment of foreign companies on the...
Central Bank Governor: Banks need to do more about NPL's

Central Bank Governor: Banks need to do more about NPL’s

Central Bank of Cyprus (CBC) Governor Constantinos Herodotou called on the Cypriot banks to step up their efforts to further reduce non-performing loans (NPLs) as the current conducive environment remains in place. Addressing a conference...
NPFs drop a further €175 million in July-September 2019, Central Bank says

Cyprus had the highest stock of non-performing assets of general government, with 32.4% of...

In 2018, Cyprus became the country with the highest stock of non-performing loans (assets) of general government, with 32.4% of GDP, far ahead of the other EU Member States, according to data released today...
Economics Research Center: Robust economic activity in Cyprus expected in 2020

Economics Research Center: Robust economic activity in Cyprus expected in 2020

Real economic activity in Cyprus is expected to continue to increase at robust rates in 2020, albeit at a slower pace compared to 2019, says the Economics Research Centre (CypERC) of the University of...
Moody's says sale of problem loans by Cyprus' largest banks a 'credit positive'

Moody’s says sale of problem loans by Cyprus’ largest banks a ‘credit positive’

Moody's has described as a credit positive the fact that Cyprus' Central Bank Governor expects the two largest banks on the island to sell a significant portion of problem loans. Moody's says that on January...
Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency has said.

Bank of Cyprus and Hellenic Bank to sell loans worth €4 billion

Bank of Cyprus and Hellenic Bank will sell loans, worth €4 billion in total, according to the Governor of the Central Bank of Cyprus (CBC), Constantinos Herodotou. Herodotou briefed on Monday the House Committee on...
Euro area annual inflation expected to be 1.3% in December 2019

Euro area annual inflation expected to be 1.3% in December 2019

Euro area annual inflation is expected to be 1.3% in December 2019, up from 1.0% in November according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main...
Mixed trends in deposit and loan interest rates in November '19

Mixed trends in deposit and loan interest rates in November ’19

Rates on deposits and loans followed mixed trends in November last year in the Cypriot banking system, data released this week by the Cyprus Central Bank shows. According to the official data, the interest rate...
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