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Keravnos meets Herodotou to discuss banking system
Finance Minister Makis Keravnos met on Friday with Central Bank Governor Constantinos Herodotou to discuss issues in the banking system, a day after he had met with the heads of the island’s banks....
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Our View: Bank-bashing is a frequent activity of populist politicians
The populists of the political parties have found a new, worthy cause in the last few weeks – to protect people from rising interest rates. They appear to have forgotten that the period of very low...
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Our View: Bill covering voluntary retirement schemes is thievery
President Nikos Christodoulides has kept his election promise to make the bank employees who took voluntary early retirement eligible for unemployment benefit. The government has submitted a bill...
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Bad loans in Cyprus will not increase, finance minister assures
There are no concerns over an increase in bad loans for Cyprus’ banks, Finance Minister Makis Keravnos said on Thursday after a meeting with the European Central Bank’s executive board member Philip...
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US welcomes cooperation with Cyprus on sanctioned individuals
US Ambassador to Cyprus Julie Fisher has hailed the cooperation between the US and Cyprus in holding to account those enabling Russia’s war on Ukraine. Her statements just before midnight on Thursday...
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Flurry of activity over Russian accounts
Sanctions imposed on Russia and Russian citizens so far will not significantly impact the Cypriot economy as its banks have very satisfactory levels of capital and one of the best levels of liquidity...
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How have skyrocketing interest rates affected banks?
By Andreas Charalambous and Omiros Pissarides The prolonged period of rising inflation over the past year and a half has pushed major Central Banks to successive interest rate hikes. Specifically, base...
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New bill allowing court challenges to foreclosures would be a disaster, banks...
Banks warned on Friday that a proposed bill to allow loan defaulters to file a case in court to suspend the foreclosure process, posed a huge risk to the banking sector, the economy and the...
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Minister urges banks to absorb interest rate hikes
Pledging to support vulnerable groups where needed while maintaining an ardent fiscal policy, Finance Minister Makis Keravnos on Tuesday said he expected more action from banks to absorb increasing...
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Cyprus banks facing a cocktail of challenges
Cyprus and global banking sectors are facing a cocktail of challenges that lead to radical change, banking expert Chris Davis told the Cyprus News Agency on Sunday, underlining that enhancing the...
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Our View: Are borrowers more deserving of state support than the low paid?
One of the interest groups set up to protect people with bank loans on Tuesday called on the government to take measures to protect borrowers from the continuous rise of interest rates. The Association...
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Our View: Cyprus banks bounce back after ten years of uncertainty
After more than a decade of uncertainty, Cyprus’ two systemic banks, Bank of Cyprus and Hellenic Bank have made a full return to healthy profitability, sound fundamentals and positive prospects. This...
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Windfall tax under ‘serious consideration’
The government is “seriously considering” levying a windfall gains tax on banks to offset the earnings they’re making due to the rise in interest rates, reports said on Tuesday. According to...
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Finance minister pleads with banks not to raise interest rates again
Finance Minister Makis Keravnos said on Monday he will have a new round of meetings with bank executives to see how lenders might refrain from raising interest rates again, as the higher rates alone do...
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Questionable performances of Cyprus banks
Large increases in profits not due to better performance in using the funds of depositors to improve the economy Recent media reports on the performances of the largest Cyprus banks highlight their...
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Finance minister meets banks over interest rates
Finance Minister Makis Keravnos on Tuesday met the bosses of commercial banks in a crunch meeting aimed at getting lenders to provide some relief to customers to compensate for rising interest rates...
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Banks offering ‘insufficient’ support over interest rate hikes
Commercial banks have so far offered insufficient support amid interest rate hikes, the House commerce committee heard on Tuesday. During a session focusing on the issues caused by the European Central...
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Joint bank accounts of spouses
Banks are obliged to act on the terms agreed with clients when opening the account The opening of a joint bank account in the name of more than one person is a common banking practice, giving the...
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PEO calls for windfall tax on bank profits
The state should proceed with the taxation of the windfall profits of banks and renewable energy (RES) companies to procure revenue for implementation of an integrated social policy, PEO union said on...
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MPs upset about lack of ATMs in Cyprus
MPs expressed their disappointment at the lack of ATMs available in Cyprus at the House commerce committee on Tuesday. Committee chairman and Disy MP Kyiacos Hadjiyiannis said he had contacted banks...
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