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
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 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 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”.
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 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
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
The European Union’s monetary authority has raised the alarm over the performance of Cypriot banks, as the island’s banking system lags behind all other eurozone states. The Single Supervisory Mechanism (SSM), in
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
The Bank of Cyprus has announced plans to downsize its staff, officially offering a Voluntary Retirement Plan to 500 – 600 employees from its 3,400 workforce to maintain profitability. The news comes
