U.S. banking giant JPMorgan Chase (NYSE: JPM), at the centre of major regulatory breaches affecting key elements of its operations, has incurred fines totalling $39.34 bln for various violations from 2000 to
Cyprus’ banking sector is in the best position it has been over the last decade, experts said at the 19th Annual Economist Summit. The experts highlighted, however, the importance of implementing the
The European Investment Bank (EIB) appointed a Vice President from Cyprus to its Management Committee for the first time. According to a statement, economist Kyriakos Kakouris succeeds Lilyana Pavlova, who served as EIB
The banking sector has enhanced its strength and resilience through 2023, despite the turmoil of recent economic and geopolitical events, Cyprus Central Bank governor Constantinos Herodotou said. In his speech on Wednesday at the
Ancoria Bank is increasing its interest rate to 3% for time deposit accounts for 12 months, while deposit rates in Cyprus are on the drop once again. According to the Central Bank
Hellenic Bank’s annual profit after tax for the first half of 2023 is €160.2 mln, up by 203%, with net interest income increasing by 77%. In statements about the financial results for the six
Eurobank Cyprus, the local subsidiary of the Eurobank Group with a presence in six countries, has acquired the 17% stake in Hellenic Bank held by Pimco to become the local lender’s biggest
A shrinking banking sector has worsened unemployment figures, as 460 of 1,000 former bank staff who took early retirement in 2022 have been unable to find work. According to an analysis prepared
Bank of Cyprus shareholders may have been delighted the former financial powerhouse has returned to a dividend-paying policy after a tumultuous decade of lost deposits, haircuts and share write-downs. But when opening
The banking system shrunk further in 2022; nearly a thousand bank employees have left the sector, while banks have closed 56 branches across the island, also removing 62 ATMs from the network.
