Bank of Cyprus
Loans keep increasing in Cyprus
Deposits and loans in Cyprus saw an upward shift in March, with liquidity (the difference between loans and deposits) exceeding 27 billion euros, according to the Central Bank of Cyprus.
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Challenges faced by Patsalides
A new dawn breaks in Cypriot banking with the appointment of Christodoulos Patsalides as the Central Bank of Cyprus' new governor, heralding both promise and challenge.
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Rebound of bank deposits in Cyprus
Total deposits in Cypriot banks recorded a significant net increase by €65.4 million euros in February, following a slump of €366 million the previous month, while loans recorded a large net increase of €348.9 million after a net decrease of €122.9 million recorded in January.
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Court verdict sends shockwaves to Nicosia
In a potentially precedent-setting decision in Cyprus, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor at now-defunct Laiki Bank, potentially exposing the state to financial implications of up to 2-3 billion euros. The court's decision, which awarded €780,000 in compensation to the depositor, could have far-reaching consequences for Cyprus.
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BoC gets on course for upgrade
S&P Global Ratings (S&P) has revised the outlook for Bank of Cyprus to positive from stable, citing the easing of funding risks, a diversified business model and substantial progress in de-risking its balance sheet.
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An ‘important milestone’ for Bank of Cyprus
The Bank of Cyprus is proceeding with a dividend payment after 12 years, after receiving the green light from the European Central Bank.
According to an announcement, the BoC Holdings board of directors will propose the payment of a final dividend of 0.05 euros per share from the profits of 2022 to shareholders at the annual general meeting, to be held on May 26.
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Funds boost investment in Cyprus banks
Investing in Cypriot banks is becoming increasingly common.
The progress they have made in terms of the nonperforming loan burden they have shed, their capital adequacy, which is characterized as good, the profits expected as interest rates rise, and the cost cuts they have implemented have transformed them into an appealing investment target.
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NBG Pangaea buys CYREIT Variable Investment Company
NBG Pangaea Real Estate Investment Company of Greece announced the completion of its agreement last week with Bank of Cyprus Public Company Limited for the acquisition of a portfolio of properties in Cyprus, through the purchase of 100 percent of the management shares and 88.2 percent of the investment shares of Cypriot CYREIT Variable Investment Company PLC.
Cyprus suffers blow from massive bank withdrawals by Russian depositors
The economy of Cyprus has suffered a serious blow from the flight of Russian capital from the island.
The Russian oligarchs who appear to be a pillar of Cyprus' banking system apparently want to stash away their wealth in other countries as the battle to combat money laundering heats up in the EU.
Bloomberg: Russians are downsizing in Cyprus
Over the past few years Cyprus has embarked on a campaign to convince international partners that financial rules and regulations on the island have aligned with European best practices.
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