Bank of Cyprus Archives - Page 4 of 5

COVID19: Airline, football tickets vaccination incentives for youth

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

16th July 2021

Cyprus/Economy

Bank of Cyprus losses triple amid COVID

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

24th February 2021

Business

MOODYS: Bank of Cyprus in stronger position to weather COVID after loan sale

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

21st January 2021

Business

Bank of Cyprus offloads €545 mln toxic loans portfolio

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.

19th January 2021

Business

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