The island’s biggest lender Bank of Cyprus has made a positive start to the year posting a €95 mln net profit for the first quarter of 2019, although NPLs still weigh heavy.
The Bank reported a “good capital position”, as at 31 March 2019 the CET1 ratio was 14.9% and the Total Capital ratio was 17.9%, both pro forma for Helix, “well in excess of our regulatory requirements”.
Between 2016-2017, the number of high-growth enterprises increased by more than the EU average in 16 EU Member States, the spike was highest in Cyprus (57%). However, the absolute number of high-growth enterprises in Cyprus is relatively low (102 in 2016 and 160 in 2017). Slovenia came second (20%), followed by Finland (19%) the Netherlands … Continue reading EUROPE: CYPRUS SEES BIGGEST INCREASE IN HIGH-GROWTH ENTERPRISES
Fitch Ratings has upgraded Hellenic Bank (HB) Long-Term Issuer Default Rating (IDR) to B+ from `B` and Viability Rating (VR) to b+ from b. The Outlook on the Long-Term IDR is Stable. Moreover, it has affirmed Bank of Cyprus (BoC) Long-Term Issuer Default Rating (IDR) at B- and Viability Rating (VR) at `B-`. The Outlook … Continue reading FITCH UPGRADES HELLENIC BANK AFTER CO-OP DEAL
