Distinct from recent bank blow-ups, Signature Bank and First Republic, some banks are doing extremely well in this high-interest rate environment. Their balance sheets are not riddled with low-interest-rate mortgages like most
Cypriot banks have made more profit from the increase in interest rates than their counterparts in the European Union, said Moody’s Senior Analyst Christos Theofilou. He told news site Stockwatch that Cypriot
Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by European Central Bank interest rate hikes to tackle soaring inflation. According to
The value of transactions in the real estate sector reached €1.52 bln in the second quarter of 2023, with the market bearing the impact of higher interest rates, inflation and increased construction
Finance Minister Makis Keravnos’ efforts to convince banks to absorb shockwaves triggered by a hike in interest rates seem to be paying off, as banks agree to alleviate pressure on households. According
Finance Minister, Makis Keravnos, has asked the Association of Cyprus Banks and the Credit Acquiring Companies for measures to contain rising interest rates for loans up to €350,000 or borrowers will be
Business leaders are concerned over banks swiftly sending loan rates higher but not doing the same for savings. In a statement, the Cyprus Chamber of Commerce and Industry (CCCI) voiced its “extreme
Cyprus banks are willing to take up Finance Minister Makis Keravnos’ call to lower their lending rates to prevent a new toxic loan crisis, as long as the government chips in, according
The European Central Bank’s next interest rate decision will be based on inflation data, although a hike is likely, Philip Lane, chief economist and member of the ECB’s executive board, told CNA.
Despite pressure from local and European Union monetary authorities, Cypriot banks appear reluctant to substantially increase deposit rates, among the lowest in the bloc. Reportedly, the island’s banks are ready to increase
