Ex-Hellenic Bank CEO takes over Invest Cyprus

The former CEO of Hellenic Bank, Ioannis Matsis, has been appointed the new chair of Invest Cyprus, the authority promoting the island as an investment destination abroad. Matsis replaces the outgoing Michalis

NPLs stay at 18% of total bank loans

The Central Bank of Cyprus published data showing the evolution of aggregate non-performing loans for all credit institutions, with NPLs standing at €5.134 bln in May from €5.141 mln the month before.

Investors clamour for Bank of Cyprus bonds

Bank of Cyprus successfully issued €300 mln Tier 2 bonds that were oversubscribed four times as international investors showed confidence in the Cypriot economy. The huge interest shown by investors for a

Moody’s welcomes toxic bank loans slashed 43%

A Moody’s analysis said nonperforming exposures held by Cyprus banks declining 43% despite the pandemic is credit positive for the economy. The Central Bank of Cyprus said Cypriot banks’ nonperforming exposures (NPEs)

Cyprus bank deposits rise to €48 bln

Deposits in the Cypriot banking system registered a net increase of €191 mln in November rising to €48 bln according to data released by the Central Bank of Cyprus. Total deposits in

COVID had lighter impact on bank capital Q2

The pandemic had a less severe impact on the Cyprus banking system’s capital adequacy in the second quarter of 2020, as banks front-loaded provisions from the beginning of the outbreak. According to

Total loans in Cyprus hit record low

Total outstanding loans fell to a new low of €31.9 bln with businesses and households struggling in the wake of the pandemic, according to data released by the Central Bank of Cyprus