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Bank of Cyprus

Greeks Appeal To Nicosia Lawmakers For Return of 300 Million Euros

Nearly 1,000 Greeks are seeking the return of 300 million euros, which were confiscated by the Republic of Cyprus in 2013. The Greek depositors delivered a letter to lawmakers in Nicosia on Friday, asking for pressure to be placed on...

Bank of Cyprus ex-CEO Guilty of Manipulation Ahead of Crash

A Cypriot court on Thursday found a former CEO of the Bank of Cyprus guilty of market manipulation, shortly before the island's banking system almost collapsed in 2013. The court ruled that Andreas Eliades, had deceived shareholders on the actual...

Cyprus Could Attract Investment Fund Managers Following Brexit

Cyprus could attract investment fund managers following the UK decision to leave the EU, Cyprus' Investment Funds Association President, Angelos Gregoriades has told CΝΑ. The decision for Brexit sparked uncertainty in the fund managers sector in London with managers exploring the...

Five Bank of Cyprus Officials Prosecuted

Greek-Cypriot Attorney General Costas Clerides announced that five Bank of Cyprus officials are facing serious charges that could result to 20-year prison sentences. The Bank of Cyprus is the bailed in lender of the country whose economy faced difficulties in...

1.9 billion Loss for Bank of Cyprus

Bank of Cyprus, the Cypriot lender which recapitalized itself after seizing its own depositors' savings this year, posted a 1.94 billion euro net loss in the first nine months of the year. The bank said on Wednesday the result included...

Cyprus Gambling On Casinos For Rebound

Being saved from an economic and bank collapse by a pending 10 billion euros ($13 billion) bailout from international lenders - but at the price of confiscating bank accounts and imposing harsh austerity measures - Cyprus is going to...

Bank of Cyprus Officials Deleted E-Mails

Two of the beleaguered Bank of Cyprus’ former top executives appear to have deleted critical e-mails to cover their tracks over why they decided to invest heavily in Greek bonds that were later devalued by 74 percent, hitting the...

Bank of Cyprus Whacks Big Depositors

Depositors with more than 100,000 euros ($130,000) in uninsured accounts at the Bank of Cyprus stand to suffer big losses under a restructuring plan devised as a way to confiscate their holdings and trigger release of a 10 billions...

Cypriot Politicians’ Loans Written Off

With banks confiscating up to 80 percent of uninsured deposits over 100,000 euros ($130,000) and the country facing a deep economic crisis, Cyprus has forgiven loans to politicians and companies while others are generally being required to pay in...

Cyprus FinMin Says Bailout Too Tough

As Cyprus ratchets down its oversized banking sector to get a pending 10 billion euros ($13 billion) bailout from international lenders, the price it's paying, including confiscating up to 80 percent of uninsured bank deposits over 100,000 euros ($130,000)...