Capital Intelligence Ratings (CI) has affirmed the long-term foreign currency rating (LT FCR) and short-term foreign currency (ST FCR) of Bank of Cyprus (BoC) at ‘BB-’ and ‘B’, respectively, affirming its ‘stable’
Moody’s has upgraded Bank of Cyprus key ratings citing “significant improvement” in asset quality following an agreement on non-performing loans that would reduce the bank’s NPL ratio to single digits. It upgraded
Fitch credit rating agency has revised the outlook for Bank of Cyprus and Hellenic Bank to positive from negative, citing the expected improvements in asset quality due to non-performing loans (NPL) sales.
Standard and Poor’s revised the country’s largest lender Bank of Cyprus’ outlook to positive from stable, following a new NPL transaction titled Helix 3, reducing its non-performing loans ratio to single digits,
In a bid to encourage teenagers and 18 to 30 year olds to get on board the Covid-19 vaccination train, the government has joined forces with private companies offering incentives, ranging from
Bank of Cyprus saw its losses triple last year to €175 mln. Its chief executive is confident 2021 will be better, focusing on reducing costs and liabilities while increasing retail loans and
Moody’s rating agency said the sale of a bad loan portfolio by the Bank of Cyprus puts it in a better position to deal with an inflow of new NPEs arising from
Bank of Cyprus has reached an agreement with funds affiliated to Pacific Investment Management Company LLC (PIMCO), for the sale of Non-Performing Exposures (NPEs) with a gross book value of €545 mln.
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
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.
