ECB revokes RCB license

The European Central Bank (ECB) said it had withdrawn Cypriot lender RCB’s banking license months after the central bank restricted parts of its business. In March, RCB Bank struck a deal with

Hellenic Bank eyes €200 mln profit in 2023

Hellenic Bank has an optimistic strategic plan to generate over €200 mln in pre-tax profits in 2023, driven by changes in interest rates and lower operating costs following the early retirement scheme.

New bank loans, mortgage rates rise

New loans approved by Cypriot banks rose by €217 million in September compared to August, driven upwards by corporate loans of over €1 mln, which rose by 127.6 mln. Furthermore, interest rates

Unease with Hellenic CEO runs deep

The bad blood between Hellenic Bank’s CEO, Oliver Gatzke, and major shareholders appears to be behind the board’s decision to sideline the German after allegations of market abuse. In a statement to

New bank loans up 15%

New loans granted by Cypriot banks increased by 15.4% in the first eight months to August compared to 2021, pushed upwards by higher demand for household and business loans. Despite a €182.3

A lone star that no longer shines

The government seems to have had second thoughts on rushing through parliament a protectionist measure to prevent an American investment fund from taking over the Bank of Cyprus. This bill was supposed

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Lone Star mulls fourth bid for BoC

US private equity firm Lone Star could return with the fourth attempt at a Bank of Cyprus takeover, despite seeing three cash offers rejected by the island’s biggest lender. In comments to

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