banks

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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Learning to swim in cash

The latest liquidity statistics released by the Single Supervisory Mechanism revealed that Cypriot banks are swimming in cash. They have more cash than they know what to do with, according to the

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Revolut takes on Cyprus banks

Fintech pioneer Revolut is rolling out its own current account services to clients in Cyprus, making it a ‘mini bank’ and challenging the traditional high-street banks that are still struggling with their

Cyprus banks tighten lending criteria

Cyprus banks tightened lending criteria in the third quarter of 2020 while there was increased demand for loans from businesses and households during the pandemic, according to the bank lending survey. The

COVID19: Lockdown II will test Cyprus banks

Although the government has announced financial support to buffer the effects of a second lockdown, there is a larger credit-negative economic effect for Cyprus banks as the pandemic endures. The lockdown measures

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Government committed to reducing NPLs further

Tackling non-performing loans (NPLs) remain at the heart of economic policy with a stable legal framework on foreclosures and an effective insolvency process, the Finance Ministry said. It said there was “enormous

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