Banking sector in best position for decade

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

EIB appoints first Cypriot VP

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

Ancoria Bank offers 3% deposit rate

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

Eurobank controls Hellenic

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

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Banking needs a human face

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

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Cyprus’ banking sector shrinking

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.

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