BANKING

BoC to slash staff numbers by some 15%
BANKING

Bank of Cyprus will reduce its staff by over 500 employees by 2022 and is expected to close 20 of its branches, reducing the number to 60 in total.


Cash is king when house-hunting
PROPERTY

More than 40,000 residential properties were sold in Greece last year, according to estimates by real estate associations. Notably, three-quarters of those transactions were made exclusively in cash – without the intervention of a credit institution.

New wave of NPLs on the way
BANKING

New nonperforming loans (NPLs) worth almost 5 billion euros emerged in 2021, increasing concerns at the Bank of Greece over the creation of new generation of bad loans this year after the outbreak of the geopolitical and energy crisis.


Deposits to help ease price impact
BANKING

The high level of liquidity built up during the pandemic will operate as the first dam to the stream of inflationary pressures on households and enterprises regarding the servicing of their obligations.

NPL Summit at the Athenaeum InterContinental
ECONOMY

Ethos Events is organizing its 4th NPL Summit as a LiveOn Hybrid Event on Tuesday, in cooperation with specialized website NPLConfidential.com and business portal banks.com.gr.

Debtors to pay an extra 1 billion euros
ECONOMY

The intention of the European Central Bank to raise its core interest rates as of July will put an end to cheap cash for enterprises and households; that will have a major impact on the vast majority of loans whose interest is linked with the Euribor rate.


Too early to see war effect on lenders
BANKING

The exposure of Greek banks to Russia and Ukraine is negligible and any prediction regarding the final impact on financial stability would be extremely premature and precarious, the Bank of Greece (BoG) said on Thursday.

SMEs secure most bank financing over first quarter
BANKING

Greek banks supplied new loans of more than 1 billion euros over the first quarter of the year, and most of that went to small and medium-size enterprises, according to the Bank of Greece’s analytical credit datasets.



Fitch: Hellenic, BoC retain Positive Outlook
ECONOMY

The ratings of Cyprus’ two largest banks continue to have a Positive Outlook despite increased risks to the global economy due to the war in Ukraine, Fitch Ratings said on Tuesday.

Leasing is the new mortgage
PROPERTY

The option of getting a house either as an investment or as a private residence, without having to resort to bank borrowing through leasing is now available in Greece. 

Drop in most interest rates in Cyprus
BANKING

A decrease in interest rates on deposits and consumer loans and a marginal increase in the interest rates on mortgages can be seen in the data published on Thursday by the Central Bank of Cyprus for March 2022.


Cypriot NPL scheme on mortgages
BANKING

Cypriot authorities plan to submit an official request to the European Commission in June for the implementation of a mortgage-to-rent scheme, aiming to address nonperforming loans collateralized with primary residences and the premises of small and medium-sized enterprises with an estimated contractual value of 3 billion euros.

HFSF pathway out of banks
BANKING

The life span of the Hellenic Financial Stability Fund (HFSF) has been extended until 2025, so that the bank bailout fund will have until then the opportunity to complete its divestment from the banks and have their full privatization achieved.