Bank deposits climb to 9-year high

Deposits in the Cypriot banking network climbed to a nine-year high in September, boosting liquidity in the system to over €23 bln, said the Cyprus Central Bank. On the flip side, the

Banks must address structural vulnerabilities

Increased interest revenue from monetary policy normalisation should not overshadow Cypriot banks’ structural vulnerabilities, argued Cyprus Central Bank governor Constantinos Herodotou. Speaking to MPs, Herodotou said Cypriot banks are expected to significantly

Cypriots don’t trust bank employees

Cypriots do not trust bank employees for advice on their finances compared to other EU citizens, but they believe in advertising material more, according to a Eurobarometer. The Eurobarometer examined the relationship


Moody’s upgrades major banks

Moody’s Investors Service has upgraded Bank of Cyprus and Hellenic Bank’s long-term ratings, including their deposit ratings to Ba2, from Ba3, maintaining a positive outlook citing “the resilience of the Cypriot economy”.

Housing loans reach new peak

Despite strong inflationary pressures crushing household incomes, the value of new mortgages taken out had reached its highest level since December 2014, when the Central Bank began recording data. Net new mortgage

Debt restructuring slowdown

Debt restructuring declined to €545 mln in the first six months, with loan renegotiations slowing following a record year due to the pandemic as non-performing loans declined to their lowest point since

Private debt reaches €56.2 bln

Debt held by households and non-financial corporations in the first quarter of 2022 amounted to €56.2 bln, according to the Central Bank of Cyprus. Household debt in Q1 was €20.2 billion, corresponding

New bank loans up 28.2% to May

New credit granted by Cypriot banks increased by nearly 30% in the first five months of the year compared to 2021, pushed upwards by higher demand for household and business loans. According

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