Cypriot banks receive vote of confidence from Limassol-based investment firm

The Bank of Cyprus (BoC) and Eurobank are well positioned to benefit from a renewed re-rating of Hellenic banking stocks, according to Cyprus-based investment firm Roemer Capital, with the company upgrading the former to a buy recommendation and reaffirming its positive stance on the latter.

The firm said fading geopolitical risks, resilient economic growth in Greece and Cyprus, declining funding costs and the forthcoming transition of Greece to developed-market status should support another...