Banking network shrinks by over half

Cyprus’ banking network has shrunk by a quarter in the past three years, as many branches have closed and the workforce reduced as banks go digital. According to the Association of Cyprus


BoC closes more branches, removes ATMs

Bank of Cyprus is downsizing its network by closing 15 more branches and removing ATMs by next month as it speeds up its digital presence. Phileleftheros daily quoted sources saying the bank

Banking sector faces industrial action

The banking sector is in choppy waters after employees backed their union to strike over Hellenic Bank’s intention to make 350 staff redundant, while Bank of Cyprus is also cutting branches. The

RCB starts winding down

RCB Bank has embarked on an “orderly winding down” of its Cyprus banking operations, following the announcement a month ago of the transfer of shares held by Russian entities to local stakeholders,


Russia banking sanctions blowback on Cyprus

Cyprus striving to recover from the pandemic is hindered after the EU’s latest banking sanctions on Russia will also affect the island’s services sector, say stakeholders. Many Russian offshore companies will now

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