Cypriot bank’s ability to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’s said. In a country-by-country
Banks and credit buyout companies are likely to extend the freeze on foreclosures of primary homes valued up to €350,000, as they have accepted the Ministry of Finance’s call in principle. Online
During the second quarter of 2023, the lending criteria for businesses and households remained strict, indicating the caution of banks. At the same time, there was a decrease in loan demand, attributed
Distinct from recent bank blow-ups, Signature Bank and First Republic, some banks are doing extremely well in this high-interest rate environment. Their balance sheets are not riddled with low-interest-rate mortgages like most
Finance Minister Makis Keravnos said there are still challenges the banking sector must address, but he expects additional positive measures from banks to their struggling customers. At the ‘Banking System: New Challenges
Rather than pausing as expected by many observers, the European Central Bank (ECB) raised its main refinancing operations (MRO) rate by 25 basis points (bps) to an all-time high of 4.5% to
Cypriot banks have made more profit from the increase in interest rates than their counterparts in the European Union, said Moody’s Senior Analyst Christos Theofilou. He told news site Stockwatch that Cypriot
Political parties are increasing the heat on banks to absorb part of the increased cost of borrowing from interest rate hikes burdening the economy and households. As the European Central Bank prepares
Cyprus banks are feeling the heat from political parties and the government to absorb part of the increased cost of borrowing created by interest rate hikes burdening the economy and households. According
Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by European Central Bank interest rate hikes to tackle soaring inflation. According to
