Banking needs a human face

Bank of Cyprus shareholders may have been delighted the former financial powerhouse has returned to a dividend-paying policy after a tumultuous decade of lost deposits, haircuts and share write-downs. But when opening

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Finance Minister rejects lifting company levy

Finance Minister Makis Keravnos has warned politicians against adopting legislation to abolish a €350 company annual levy paid to the Registrar of Companies, as it would affect the state’s fiscal plans. Parliamentary

New bank loans decline

Total new loans decreased to €473.9 mln in April, compared with €922.5 mln in the previous month, as the credit squeeze tightens, the Central Bank of Cyprus said. Regarding deposit rates, it

Push to lower interest rates

Finance Minister Makis Keravnos is launching one more effort to convince Cypriot banks to absorb part of the increase in mortgage rates as he meets the banking association on Tuesday. The meeting

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Legacy banking not serving SMEs

Ever since the financial crisis of 2011-2012 brought Cyprus banks to their knees, the owners and managers of legacy financial institutions have yet to learn from their mistakes. Cyprus was shut out

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