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Cyprus Popular Bank

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 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...

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...

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...

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...

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...

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...

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...

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...