Cyprus banking system posted Q3 losses

The Cyprus banking system reported after-tax losses of €36 million on a consolidated basis in the first nine months, from a profit of €22.54 million in the same period last year due

Hellenic’s benched CEO can return

Hellenic Bank’s CEO, Oliver Gatzke, can return to work on Monday following the lifting of the board’s decision to sideline the German after allegations of market abuse. Gatzke could be back at

Banking’s future is digital, green & social

The future of the Cyprus banking sector is digital, green, and social, said experts during the online FMW Conference on the financial system. The conference also highlighted the contrast between taming inflation

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,