Saturday Jul 26, 2014 Search
Weather | Athens
32o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Cyprus bank deposits rise 1.2 pct y/y on non-EU inflows

Deposits in Cyprus's banking system rose 1.2 percent year on year in 2012, Central Bank data showed, driven by inflows from outside the European Union amid financial strain on the island which is seeking an international bailout.

Combined deposits in Cyprus-based banks stood at 70.15 billion euros at the end of December. The bulk, 43.3 billion euros' worth, were held by Cyprus residents.

Depositors from other EU member states held 5.3 billion euros in the system, 1.2 percent down from a year earlier.

Depositors from the rest of the world, generally believed to be mostly Russians though the Central Bank does not offer a breakdown of data, held 21.5 billion euros on the island. That was a 7 percent increase over 2011.

Cyprus's close business ties with Russia have come under scrutiny from its euro zone peers while it negotiates desperately-needed financial aid. The island, which offers the lowest nominal corporate tax rate in the euro zone, has been accused by some politicians, particularly in Germany, of being a hub for money laundering.

Cyprus denies the charge, saying its financial regulations are continuously being reviewed and tightened to ward off illicit activities.

The island, one of the smallest in the 17 member euro zone, sought financial aid in June 2012 after its banks reported significant losses to an EU-sanctioned debt writedown for Greece. Its total bailout bill could reach 17-17.5 billion euros, roughly equalling its annual output.

[Reuters]

ekathimerini.com , Tuesday Jan 29, 2013 (11:40)  
Trade deficit grows 9.5 pct in Jan-May
Number of 5-star hotel rooms rises 31.4 percent in four years
Greeks get slightly less downbeat
Banks reluctant to issue credit
MP steps in to get power back on at invalids home
An MP had to intervene to get the electricity supply restored to the home of a man who requires a machine to help him breathe just days after a woman on life support died in Hania, Crete, as...
Civil servants who changed contracts to undergo checks
State inspectors are to begin checking the circumstances under which thousands of people working in the public sector had their fixed-term contracts switched to open-ended deals in the years...
Inside News
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. I l...
SOCCER
Olympiakos downs AC Milan 3-0 in friendly
Greek champion Olympiakos defeated Italy's AC Milan 3-0 late on Thursday in a friendly match that launched the International Champions Cup in Canada and the US. The result, with goals from A...
Inside Sports
TALK
What lessons can we draw from antiquity?
Our theme is limits. And we are gathered here at this limit of Europe, close the to sea: the limitless, the boundless. And we face all sorts of limits. There are the limits of knowledge fa...
COMMENTARY
Forty years of shortsighted party policies
It is 40 years since the restoration of democracy, and the two main parties which were established in 1974 and determined the countrys fate since then are unable to act their age. For decad...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Trade deficit grows 9.5 pct in Jan-May
2. Number of 5-star hotel rooms rises 31.4 percent in four years
3. Greeks get slightly less downbeat
4. Banks reluctant to issue credit
5. MP steps in to get power back on at invalids home
6. Civil servants who changed contracts to undergo checks
more news
Today
This Week
1. Greek coast guard picks up 77 migrants off Myconos
2. Draghi safety net becoming blindfold as bonds soar
3. Aegean Airlines resumes flights to Tel Aviv
4. Police report points to less crime in 2014
5. Godfather, 35, shot at Karditsa christening dies
6. Thousands of dead fish surface in Lake Pamvotis
Today
This Week
1. Greece seen in third bailout as bonds not enough, economists say
2. Climber dies in Mount Olympus fall
3. Greek sovereign debt at 174.1 percent of GDP in first quarter
4. Unequal after death
5. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
6. Quadriplegic woman on life support 'dies due to unpaid power bills'
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.