News

Singapore: Strong demand on property loans

According to the data from the Monetary Authority of Singapore (MAS), loans and advances by domestic banks have amounted to S$610.4 billion only for the last month.


Bank of Cyprus initiates foreclosure procedures on NPLs

The largest lender on the island, Bank of Cyprus, is the first to seek to foreclose on collateralised real property in more than twenty cases concerning non-performing loans (NPLs) collectively worth around €85 million.


Bank of Cyprus fills the gap left by Barclays bank

This week the Bank of Cyprus (BoC) released details on what ex-Barclays account holders should to relocate their business to Bank of Cyprus UK.


Singapore banks offering higher fixed deposit rates

The stricter regulations regarding the balance each account holds and upcoming Savings Bonds for Singapore banks might be increasing the competition for the lending rate in an attempt to get more fixed deposits.


RCB to become ‘major’ Cypriot bank

Since the remaining capital restrictions in Cyprus were lifted in April, RCB Bank has been steadily building up its strategy to further develop its domestic business according to a source.


Foreign banks are refusing to accept US citizens due to FATCA requirements

Rand Paul, the Senator of Kentucky and the US Presidential candidate is looking to prosecute the IRS (Internal Revenue Service) regarding a court testimony that its Foreign Bank Account Reporting (FBAR) regime and the Foreign Account Tax Compliance Act (FATCA) are unconstitutional.


The EBRD is ready to help Cyprus get out of a difficult situation

The European Bank for Reconstruction and Development (EBRD) plans to finance projects in three areas, in order to help the banks in Cyprus, whose share of non-performing loans (NPLs) have reached more than 50%. The privatisation of parastatal projects, actively oppose the Cypriot trade unions and other…