Cyprus Popular Bank
Business
Cypriot Bankers Fear For Their Lives
Cypriot officials from the now-defunct Cyprus Popular Bank who testified before the European Parliament said the bank crisis in their country allegedly involved the transfer of billions of euros to Greece but refused to name any culprits, saying their...
Cyprus
Cyprus Finance Minister: Uninsured Laiki Depositors Could Face 80% Haircut
Cyprus΄s finance minister said Tuesday that large deposit holders at Cyprus Popular Bank PCL (CPB.CP), the island΄s second biggest lender, could face losses of as much as 80% on their deposits as the government moves to wind down its...
Business
Private Guards Gird For Cyprus Bank Openings
Cypriot banks, which have been closed since March 15 while the government worked out a bailout deal, are using private security from a British firm to guard workers refilling ATM’s, and bracing for a reopening on March 28 hoping...
Cyprus
Piraeus Bank Completes Acquisition of Cypriot Bank Units in Greece
Greece's Piraeus Bank said on Tuesday it agreed to buy the branches of all three Cypriot banks in Greece for 524 million euros ($675.04 million) in cash.
The deal concerns the Greek units of Bank of Cyprus , Cyprus Popular...
Cyprus
Cypriot Banks In Greece Open March 26
Branches of Cypriot banks in Greece that have been closed since March 25 to prevent withdrawals until the island's goverment finalized a bailout with international lenders, will open as normal on March 26 following the agreement between their parent...
Cyprus
Stournaras: Greek Lender Starts Acquiring Local Cypriot Operations
Greece's Finance Ministry said Friday that a Greek bank will immediately start acquiring the local operations of Cypriot banks in close cooperation with the island's central bank.
"With this development, Greece is shielded (from the Cyprus crisis) as the total...
Cyprus
EU Ok’s Recapitalization of Cyprus Popular Bank
The European Commission has temporarily approved a 1.8 billion euros ($2.33 billion) recapitalization of the troubled Cyprus Popular Bank and has given Cyprus six months to present a plan of reconstructing the institution before the EU decides on whether...
Cyprus
Struggling Christofias Sets Cyprus' Agenda for EU Presidency
ATHENS - Failing to meet his goal of finding peace with Turks occupying the northern third of the island and with his country’s banks needing a bailout to stay solvent, Cypriot President Demetrios Christofias laid out plans for what...
Cyprus
Demetres Christofias Does Not Exclude Bailout Mechanism for Cyprus
“Cyprus can't rule out external support for Greek-ravaged bank,” is an article on Reuters reporting that Cypriot Demetris Christofias, having evaluated the critical financial situation of his country, can’t exclude a bailout package for Cyprus.
Christofias said on Friday he...