higher ratings of Hellenic bank and bank of Cyprus at Moody's

[dotbloup]

GOOD NEWS!

Moody's changes outlook to positive for Bank of Cyprus and Hellenic Bank

Moody`s rating agency has changed the outlook to positive from stable on the Bank of Cyprus Public Company Limited`s (BoC) Caa3 long-term deposit ratings and on the Hellenic Bank Public Company Ltd`s Caa2 deposit ratings, expecting the banks to be profitable in 2016.

The rating agency affirmed all ratings of the two banks, and upgraded the Bank of Cyprus`s long-term Counterparty Risk Assessment (CRA) to Caa1(cr) from Caa2(cr), reflecting changes in the bank`s liability structure, which saw an increase in deposits and decrease in secured funding, mainly Emergency Liquidity Assistance (ELA).

 

[JohnLocke]

Thank you for the interesting share. I have already heard something from one of my partners but wasn't aware of it already was public.

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[hofo]

This came in at a good time. I will start with the Cyprus company formation tomorrow and asked the agent if we can open the account with Bank of Cyprus, lovely.

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[deadpool]

Thanks for the share OP. It just makes Bank of Cyprus gain more darling points.

 

[SasxInc]

Thats really a good news for us. Thanks for sharing.

Btw, waiting for the result of UK's todays vote. Let's see what they have choose. UK's people want to be with EU federation or not. The Future of Cyprus economy is depending on this vote.

 

[huntof]

Cyprus is not a bad islands to bank. There have been haters around try to speak Cyprus banking bad. I have read lots of such threads but never really wasn't believing the crap.

 

[dotbloup]

I am not from Cyprus, but i have witnessed, the banks there are very pro. just like the agents.

 

[negon]

Cyprus banking has been working very well for me and my purpose. So my account with a Belize banks works fine. I'm still looking for something i Europe as an alternative to Cyprus and Malta.

 

[crispgo]

auric said:
Cyprus banking has been working very well for me and my purpose. So my account with a Belize banks works fine. I'm still looking for something i Europe as an alternative to Cyprus and Malta.
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What bank you are using?

 

[allan]

Personally I would only open an account with Bank of Cyprus or Piraeus bank Cyprus!

 

[andreas]

Hellenic bank is history as far as I understand they are Bank of Cyprus now right!?!

 

[dotbloup]

andreas said:
Hellenic bank is history as far as I understand they are Bank of Cyprus now right!?!
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No Hellenic bank is independent and it is the 2nd bank of Cyprus. Perhaps you refer to 2013 when they sold their greek branches to Piraeus bank so that they have today NO exposure to the Greek crisis at all.
Hellenic means "greek" in greek but they don't have investments in Greece that's why they have better score.