Britain’s eventual exit (Brexit) from the European Union (EU) will consequently impact Cyprus and its economy due to their close financial relations. UK is one of Cyprus’ main supplier of goods and services. Also, Cyprus’ exports to the United Kingdom (UK) exceed 10% of its total. Moreover, Cyprus’ financial services collaborate closely with the City of London and most importantly, Britain has always been Cyprus’ main source for tourism.
Read full articleIn March 2019, the credit rating agency Fitch upgraded Hellenic Bank’s Long – Term Issuer Default Rating from B to B+ as a result of the the completion of the acquisition of certain good assets and liabilities from the Cyprus Cooperative Bank Ltd (CCB) as well as the €150m capital increase which the Bank carried out.
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