Changing environment for banks

The pandemic has caused new turmoil and highlighted the ongoing concerns within the European Authorities about the Union’s banking system. The turmoil accelerated the reassessment and upgrading of the operating rules of


Banks must heed climate crisis

Cyprus Central Bank Governor Constantinos Herodotou urged all stakeholders to accelerate efforts to deal with the impact of climate change as an ECB stress test for banks looms next year. Addressing the


Banks agree to cut business red tape

The Central Bank of Cyprus (CBC), professional regulatory bodies and business stakeholders agreed on ten steps to reduce bureaucratic banking procedures to help the economy tick. Procedures such as Know-Your Client (KYC)

Fitch warns of Cyprus banks risk

Fitch rating agency reaffirmed Cypriot banks’ negative outlook noting the general environment poses threats to their balance sheets. In a report on the Cyprus banks, the agency notes that while they are


DBRS: Banks slash toxic loan legacy

DBRS Morningstar rating agency reports that Cypriot banks substantially accelerated the reduction of their legacy NPEs in 2020, dropping by 10 percentage points. It noted that NPEs not provisioned for reached their


There are no free lunches

  By Michael Olympios Economics is famous for the concept of opportunity cost – an idea that holds that there’s no such thing as a free lunch. Almost every policy decision must

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