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
Bank employees union ETYK called its members to approve a general strike in protest against Hellenic Bank’s intention to lay off up to 350 staff. Calling its members to vote in two
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,
Cyprus’ significant links with Russia have increased the downside risks to otherwise strong medium term economic prospects for the island, rating agency DBRS said in a commentary, echoing concerns by local firms
Sanctions imposed on Russia following its invasion of Ukraine will not severely impact the island’s banking sector, as it is not exposed to the Russian economy, said Finance Minister Constantinos Petrides. In
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
By Roland Jackson Britain’s NatWest bank said Friday that it surged back into annual profit last year as the economy recovered from Covid, and forecast it stands to gain from rising interest
The banking system, unquestionably strained by the uncertainty created by the pandemic, is going through a prolonged period of low-interest rates. At the same time, it has excessive liquidity, which, combined with
The International Bank Account Number (IBAN) is a standard account number structured according to the specifications issued by the European Committee for Banking Standards (ECBS) and the International Organisation for Standardisation (ISO).
The outlook for the banking industry is stable for the next 12 to 18 months as the global economy maintains a steady recovery, helping support banks’ asset quality and keeping loan loss
