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...
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...
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...
Address by Cypriot President at CIBA 2019 AGM
The full statement by the Cypriot President Mr. Nicos Anastasiades follows below:
"It is a great pleasure to join you at the 26th Annual General Meeting of the Cyprus International Businesses Association (CIBA) and an...
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...
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...
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...
Increase of Contributions to Social Insurance Fund
Since the beginning of the year, the contribution rate to the Social Insurance Fund was increased by 0.5% for employees, employers, self-employed persons and voluntary insured persons, on the basis of the Social Insurance...
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 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...
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