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Bank of Cyprus - Page 2

Bank of Cyprus losses top €122 mln in 9 months

Bank of Cyprus announced after-tax profits of €4 mln in the third quarter, somewhat easing the pain of €122 mln in losses during the nine months, while its chief executive warned of

27th November 2020
Business

Moody’s affirms Bank of Cyprus, Hellenic Bank ratings

Moody’s Investors Service affirmed all ratings and assessments of Bank of Cyprus and Hellenic Bank, including their long-term deposit ratings of B3. The outlook on both banks’ long-term deposit ratings remains positive.

11th November 2020
Business

Bank of Cyprus stumbles with €126 mln losses in 1H

Bank of Cyprus posted first-half losses of €126 mln, of which a hefty €100 mln was booked in the second quarter alone with the CEO attributing the downfall to its Project Helix

28th August 2020
Companies/Cyprus

MOODYS: Bank of Cyprus toxic debt sale to PIMCO is credit positive

Bank of Cyprus agreeing to sell a portfolio of nonperforming loans with a gross book value of €916 mln to funds affiliated to global fixed-income investment manager PIMCO is a positive step,

6th August 2020
Business

COVID19: EBRD ups Bank of Cyprus trade finance limit to €100 mln

Businesses in Cyprus, including small and medium-sized enterprises (SMEs), may benefit from export and import opportunities available through the European Bank for Reconstruction and Development (EBRD) doubling its trade finance limit to the Bank

19th June 2020
Business

Bank of Cyprus bogged down in €26 mln loss

Bank of Cyprus, the one-time darling of the Cypriot economy that has suffered two waves of shareholder bail-ins, announced Tuesday a first-quarter loss of €26 mln as coronavirus began to bite. This

26th May 2020
Business

Bank of Cyprus posts €70 mln net loss for 2019

Bank of Cyprus, the island’s largest lender, posted a net loss of €70 mln for 2019, due to increased provisions after postponing a sale of non-performing loans and the cost of a

29th April 2020
Business

Pay deals signed in banking sector bring fragile stability

Social partners have welcomed the renewal of collective agreements between two of Cyprus largest banks and staff unions but there is a fragile truce. Working relations in the banking sector may be

22nd December 2019
Business/Cyprus

Bank of Cyprus to close symbolic Nicosia branch among 10 others

In a cost-cutting move, Bank of Cyprus will close its landmark branch in the capital at Nicosia’s Eleftheria Square along with 10 other branches facing the chop this year. BoC’s decision was

27th November 2019
Cyprus
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New life for mountain villages

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In a democracy, one must use process and procedures and

Lower VAT extended on power bills, pump prices, pension boost

Cyprus will extend lower VAT on electricity bills and a

COVID19: Cyprus ends mask-wearing at airports, indoor spaces

Cyprus is lifting a mandate on mask-wearing at airports and

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