Liquidity of €8.5 billion has been lost from the banking system in the past six months, restricting the banks’ lending capacity and making the recovery of the economy in 2012 exceptionally difficult...
Deliberations ahead of the afternoon meeting of ETYK for the new contract agreed with the banks have culminated. In order to secure a consensus, ETYK has ‘bombarded’ its members with circulars,...
04/01/2012
Hellenic Bank announced on Wednesday the resignation of Glafkos Mavros from his position as Board member with effect from December 31, 2011 At the same time, the bank announced that it appointed...
04/01/2012
The 11,000 bank employees are exceptionally concerned about the preliminary agreement reached between their trade union and the employers. The agreement provides for the freezing of the payroll...
04/01/2012
The capital needs and the liquidity pressures that the banks face have changed the competition conditions and have reversed their market shares. The developments in the banking sector give...
03/01/2012
The insurance companies sector will be under strong pressure, the Central Bank supports. Already, in the first half of 2011, its net profits fell 97.6% compared to 2010. This decline is...
23/12/2011
Banks are on an undeclared war to increase their share in the credit card market of €2 billion this year. In the past few weeks, they have ‘bombarded’ the credit card holders with offers ahead of...
23/12/2011
The government’s fiscal targets are feasible so long as the budget and the fiscal consolidation measures are fully adopted, the Central Bank of Cyprus supports. In its first official opinion after...
20/12/2011
New Marfin CEO, Christos Stylianides expressed his optimism on Monday that the bank will manage to absorb the necessary capital from the private sector and will not need a state support. In his...
19/12/2011
The House of Representatives approved on Wednesday the bill on the state support of the banks, which was subject to two significant amendments, as well as those on the stability fund and the issue of...
15/12/2011