Hellenic reported good financial results for 2022 with a profit of €24 mln (from a €12 mln loss in 2021), confirming the progress made in the transformation to a customer- and technology-focused
Despite pressures on the world and local economy, Cypriot banks’ capital adequacy is above the EU average, according to the latest data from the European Central Bank. The combination of reduced provisions
AstroBank has completed its staff restructuring plan after the second phase of a voluntary exit scheme, reducing the total number of employees at the bank to the targeted 400. The fourth largest
Despite pressures from the government and EU monetary bodies, Cyprus banks still charge higher interest rates for loans and lower rates for deposits than most eurozone countries. Data released by the European
Foreign investors in Cyprus told President Nikos Christodoulides the government must address infrastructure shortcomings that hinder their business plans for the island. Investors were brought together during a roundtable discussion organised by
Hellenic Bank posted €69.7 mln profit for the first quarter of 2023, as it offloads toxic loans. The bank holds a Solid Capital Position with a CET1 ratio of 19.3% and a Capital adequacy
Cyprus Airways announced the upgrade of its fleet from the A320 to the advanced greener A220 aircraft. The leasing of two A220-300 aircraft was unveiled during a joint conference with Airbus at
The House is backing legislation to abolish a €350 company annual levy paid to the Registrar of Companies, despite a Finance Ministry pushback claiming it would affect the government’s fiscal plans. At
Cyprus has shown improvements in combating money laundering and terrorism financing but could do more, according to the evaluation by the Council of Europe’s monitoring body MONEYVAL. The anti-money laundering and counter-terrorist financing
Greece’s AEGEAN and Cyprus Airways announced a codeshare agreement connecting the networks of the two flag carriers, offering enhanced connectivity for passengers. Starting on June 20, this new commercial partnership will boost
