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
By Niki Tsivitanou After 2015, many properties passed into bank ownership, mainly through debt-to-asset swaps or foreclosures. Subsequently, some were acquired by credit acquiring companies, and, in the near future, more are
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 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
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
The Cyprus Banks Association announced Thursday they would extend the freeze on foreclosures of primary homes introduced during the first COVID-19 lockdown. The freeze involves properties which are registered as the owner’s
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
Cyprus real estate agents fear that house prices could be pushed downwards from pressure on banks by the European Central Bank to sell-off property they have acquired through debt to asset swaps
Deposits and loans in the Cyprus banking system registered a net increase in June with total deposits amounting to €47.8 bln while total loans edge up to €32.2 bln. Central Bank of
Cyprus banking sector capital levels reached a historic high in 2019, placing Cypriot banks on a better footing to face the financial havoc wreaked by the coronavirus outbreak. According to Central Bank
