Picking the people around you: ‘Team Up or Team Down’

A Greek saying goes as follows: “If you show me your friends, I can tell you who you are”. I would say the same goes for business. Work with the best, be one of...
Employee Earnings Rise

NPEs in Cyprus banks down to €9.7 billion in July

Non–Performing Exposures (NPEs) in Cyprus banking sector, recorded a decrease of €27 million, to €9.68 billion in July 2019, compared to the previous month, according to the latest data released by the Central Bank...
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...
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...
AstroBank and Qualco Group in joint venture for management of NPEs and REOs

AstroBank and Qualco Group in joint venture for management of NPEs and REOs

AstroBank reached an agreement on 31st December 2019 with Qualco Holdco Limited, for the sale to the latter of 74.9% of Trusset Asset Management Limited, a newly formed company, for the management of AstroBank’s...
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.

Scope agency on Cyprus: strong growth prospects but liabilities remain

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...
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...
In February 2020, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.7 points compared with January 2020.

Lower services confidence causes fall in Cyprus economic sentiment

In February 2020, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.7 points compared with January 2020. According to the Economics Research Centre of the University of Cyprus, the decrease...
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...
Nine-month 2019 profit after tax of €89.4 million for Hellenic Bank

Nine-month 2019 profit after tax of €89.4 million for Hellenic Bank

The robustness and solidity of the enlarged Hellenic Bank is demonstrated by its nine-month financial results for 2019, according to a press release presenting profit after tax of €89.4 million. It also notes that it...
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