The Bank of Cyprus has announced profits after tax of €73 million for the nine months ended 30 September 2015. Profit after tax from continuing operations were €115 million. The island’s biggest lender said it has managed to reduce its loans in arrears for more than 90 days by €649 mn or 5% in the...Read More

Moody’s, the international rating agency, has upgraded RCB Bank’s deposit ratings to B3 from Caa1, elevating it to the highest rated bank in Cyprus. According to a press release by RCB Bank, “this important upgrade… reflects RCB Bank’s new capital structure, the diversification that characterizes its earnings, the Bank’s solid capitalization and the fact that...Read More

Noble Energy has submitted a request to the Republic of Cyprus seeking the approval of the island`s government to include Britain`s BG Group in a consortium holding rights over a gas field of Cyprus` drilling block 12 in the eastern Mediterranean, Energy Minister Yiorgos Lakkotrypis has said. The Minister told the media that according to...Read More