Hellenic Bank, the privately recapitalised lender that has avoided any state rescue or bailout, has raised €201 mln from a rights issue offered to existing shareholders, more than the €105 mln capital shortfall identified by the recent European Central Bank’s stress tests on Eurozone banks. Retail and institutional shareholders subscribed to the offer and exercised
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Bank of Cyprus announced that the Cyprus Securities and Exchange Commission has approved the supplementary prospectus which is related with the prospectus for the retail offer to raise a further €100 mln from the market and the applications to re-listing on the Cyprus Stock Exchange and the Athens Exchange, which will resume on Tuesday, December
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The European Investment Bank signed two loan agreements on Friday to fund expansion plans at the state University of Cyprus and to inject liquidity into the banking sector, worth a total €155 mln, with the aim of boosting SMEs and tackling youth unemployment. In a speech delivered at the University of Cyprus, EIB President Werner
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. THE RISK WATCH COLUMN By Dr Alan Waring This article could have been entitled ‘The Bonfire of the Vanities’ (with apologies to the book’s author Tom Wolfe) as it too is all about ruthless ambition, political sleaze and rampant greed. However, as vanity in others is regarded in Cyprus as something normal and acceptable,
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. By Andreas Theophanous There is no country in which the Troika could claim success. The austerity measures demanded by the EU, ECB and IMF remind me of a doctor’s prescriptions that make the patient worse. And it could get worse for us all: the Troika policies cannot be sustained without further strains in the
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The Cooperative Central Bank Ltd., the cooperative-owned housing and savings that was nationalised with a €1.5 bln bailout earlier this year, launched its new branding and identity strategy, saying that it is maintaining the “same values, new prospects.” The event, that took place at the University of Cyprus on Thursday night, is the culminations of
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Hellenic Bank promoted its new “P” Card Contactless at Costa Coffee Stores in Nicosia, Larnaca, Limassol and Paphos, where customers were shown the features of the new card that allows everyday transactions to be completed in contactless manner, easily and quickly. The contactless technology allows prepaid users of the VISA Electron card to carry out
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The Central Bank of Cyprus, as a regulator and overseer of payment systems in Cyprus, will be hosting a presentation delivered by SWIFT officials under the title “Why Should I Connect” that will capture non-technical information on how SWIFT can help banks, custodians, corporates, brokers, dealers and investment managers to connect securely and efficiently with
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By Jameel Ahmad, Chief Market Analyst at FXTM All attention yesterday was on those central banks now easing monetary policy to try and combat freefalling oil prices. The decline is going to derail several economies and I expect further easing measures to be introduced over the coming months. Both the Norwegian Central Bank (Norges Bank)
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Finance Minister Haris Georghiades kicked off the parliamentary debate around his reservedly optimistic budget for 2015, by calling on all parties to cooperate, while saying that next year will be one of recovery, reforms and changes. It is time to put an end to time-entrenched interests, and that only radical change will restore the credibility
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