Bank

Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF).

Bank of Cyprus, the island's largest lender, announced net profits of 487 million euros for the full year 2023.

This brings them closer to pre-financial crisis levels, driven by the high interest rates environment.

Türkiye's short-term external debt stock stood at $174.4 billion at the end of December, indicating an increase of 17.2 percent compared to the end of 2022, the Central Bank has said.

In a landmark move, the European Parliament has endorsed new regulations aimed at ensuring swift fund transfers for retail and business customers across the Union, with Cyprus tasked to implement the directive within the stipulated time frame. Banking sources hint that the full 18-month window may not be necessary.

Hostage-taking situations are rare in Switzerland, but they have happened in the past in banks and businesses.

Deposits at Greek banks rose by 6.4 billion euros in December on a monthly basis, reaching €194.8 billion euros at the end of 2023. Of this, €3.3 billion of additional deposits are attributed to businesses and the other €3.1 billion from households.

The growth is attributed to the Christmas bonus and to the increased credit provided by banks to firms.

Recent data released by the Bulgarian National Bank (BNB) reveals a significant uptick in both deposits and loans during December 2023, signifying positive economic dynamics in the country. Non-financial corporations saw a noteworthy increase in deposits, amounting to BGN 43.829 billion, marking a substantial 9% surge compared to the same period in the previous year.

To counter money laundering and terrorist financing, the European Union has reached a partial agreement, imposing a €10,000 cap on cash payments. The agreement, struck between member states and the European Parliament, aims to safeguard European citizens and the EU financial system from illicit financial activities.

In the dynamic realm of iGaming, the traditional landscape of payment methods is undergoing a huge transformation. The antiquated visits to banks have evolved into e-wallets and infrequent occurrences. The once-venerable bank wire and cheques now seem relics of a bygone era.

US investment bank Jefferies predicts a further increase in interest rates on time deposits in Greece for 2024, favoring a shift from ordinary savings accounts to time deposits.

To date, Greek banks have on average raised interest rates on deposits by just 15%, compared to a eurozone average of 20%, and based on estimates this rate will increase by 50% within 2024.