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.
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.
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 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.
“Despite formidable progress, key aspects of our banking union remain in limbo,” Bank of Greece Governor Yannis Stournaras warned in his welcome speech to the European Central Bank (ECB) Supervisory Board.
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.
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.
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.
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.
Piraeus Bank on Thursday reported a sixfold jump in first-quarter net earnings from last year’s fourth quarter, boosted by strong trading income.
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.
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.
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.
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 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.
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.
The process for the creation of the state’s Property Buy and Leaseback Entity is in its final stage.