Eurobank acquires 12.6% of Hellenic Bank

Greece’s Eurobank Ergasias announced it had completed the acquisition of 12.6% of Hellenic Bank, Cyprus’ second-largest lender. The Greek bank said it completed the acquisition of a 2.7% stake of Hellenic Bank’s

Bank loan restructuring up 400%

Loan restructurings recorded a 400% increase in the first six months of the year, reaching €1.4 bln, Cyprus Central Bank Governor Constantinos Herodotou told MPs. Herodotou, addressing Monday’s House Finance Committee on

Hellenic Bank profits halved to €21 mln

Hellenic Bank saw its nine-month after-tax profits halved to €21 mln, from €40 mln in the same period last year, following a flat third quarter. It reported €8.2 mln in after-tax profits

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)