Hellenic Bank Economics

Economic news and analysis from Hellenic Bank’s Economic Research Team. Follow us to stay a step ahead as our team tries to make sense of the Cyprus economy.

[Financial Mirror @FinancialMirror]

Despite uncertainty of the #COVID19 #pandemic, @HellenicBank announced a 19% increase in first half profits in #Cyprus to €21 mln, from €17.7 mln in the same period last year, with CEO @OliverGatzke describing it as “solid performance”.
https://t.co/Zgk4BjbBnf @HB_Economics

[Brief @briefcy]

Κέρδος €50,5 εκατ. μετά τη φορολογία για την Ελληνική Τράπεζα #economy @HellenicBank @HB_Economics
https://t.co/UHDUuRbUqf

[Hellenic Bank Economics @HB_Economics]

#Cyprus #Economy Domestic economic activity is driving the recovery

[Hellenic Bank Economics @HB_Economics]

"From the closing to the gradual restart of the economy" @CyprusEconomy #Cyprus #Economy @UCYOfficial @HellenicBank

[Hellenic Bank Economics @HB_Economics]

https://t.co/NN5DnXdhj2

[Hellenic Bank Economics @HB_Economics]

The #Cyprus Composite Leading Economic Index (#CCLEI)

Reversal of the Index’s downward trend in January 2020
#Cyprus #Economy

[Hellenic Bank Economics @HB_Economics]

The #Cyprus Composite Leading Economic Index (#CCLEI)

The Index continues to decline, but at a slower pace amid reduced economic uncertainty #Cyprus #Economy

[Hellenic Bank Economics @HB_Economics]

Dont miss out today's publication of the "The Cyprus Composite Leading Economic Index" #Cyprus #Economy
with @UCYOfficial @HellenicBank

[Hellenic Bank Economics @HB_Economics]

Πώς αναμένεται να κινηθούν οι τιμές των ακινήτων στην 🇨🇾 σε μεσοπρόθεσμο ορίζοντα σύμφωνα με τις εκτιμήσεις των δύο μεγάλων τραπεζών της χώρας:
https://t.co/Z72wbd7fzZ

[Hellenic Bank Economics @HB_Economics]

Πλεονάζουσα ρευστότητα και αρνητικά επιτόκια…Τί σημαίνουν για τις κυπριακές τράπεζες; https://t.co/f7lMu5b5Q7

[Hellenic Bank Economics @HB_Economics]

@BarretK @Gregosav @UCYOfficial here you go: https://t.co/yRPOOh2yJl

[Hellenic Bank Economics @HB_Economics]

We are excited to announce the collaboration of @HellenicBank with the @UCYOfficial University of Cyprus (Economic Research Center) for the construction of a national economic leading indicator. The index is designed to provide early signals of turning points in business cycles

[Hellenic Bank Economics @HB_Economics]

In June 2019, NPEs in CY's banking system fell to 9.7bn from a peak of 28bn, recording a 18bn reduction equivalent to around 85% of GDP. The largest improvement is attributed to large corporate loans; while progress for SMEs and Households is mostly driven by inorganic actions.

[Hellenic Bank Economics @HB_Economics]

Consumption-led strength in October 2019 as expected. Credit card domestic purchases continue their upward trajectory, after a small blip in the previous month, due to lower government payments: Jan-Oct 2019 +16.8% at EUR 3.39bn
#Cyprus #moving_towards_cashless

[Financial Mirror @FinancialMirror]

#Cyprus #creditcard transactions in August rose 6%, reflecting steady consumer confidence while tax & online payments to the state played a part in the upswing #FMcy @cyprusbiz @HB_Economics @cyprus_reporter @sim010101 @FionaMullenCY https://t.co/ltuo6PHZgU

[Hellenic Bank Economics @HB_Economics]

🇨🇾Two important takeaways from today's data release: (i)Consumption-led strength in Q2 as expected & investment holding up, but(ii)weakness in exports of goods weighing down the economy’s potential. This keeps us closely watching incoming activity data on trade🇨🇾#Economy #Cyprus

[Hellenic Bank Economics @HB_Economics]

In Q4 2018, the largest annual increase in residential property prices was recorded in Famagusta (3,7%).
#Cyprus #PropertyMarket

[Hellenic Bank Economics @HB_Economics]

In Paphos 80% of residential sales contracts concern international buyers. Paphos is the champion of foreign demand. High demand for house rentals among foreigners especially British and Chinese are also evident in this market. #Cyprus #PropertyMarket

[Hellenic Bank Economics @HB_Economics]

Limassol: Interest from foreign buyers increased significantly in '18 with transactions relating to high-end resi properties. The recovery is related to increased demand on the coastal areas. Spill-over effects in the non-coastal areas do not appear to be significant #Cyprus

[Hellenic Bank Economics @HB_Economics]

Nicosia: Local buyers are ca 85% of the total, especially among young couples who drive property sales, as a result of falling unemployment and increased disposable income. Increasing numbers of uni students are also driving the market #Cyprus #PropertyMarket