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Posts tagged ‘Bank of Cyprus’

Bank of Cyprus BoD convenes following Eliades resignation

 The Board of Directors (BoD) of Bank of Cyprus will convene on Thursday to discuss various issues following the resignation of the Group Chief Executive Officer Andreas Eliades including the appointment of the new CEO.

 A press release issued by the BoD of the Bank says that Andreas Eliades has submitted his resignation from the Group with immediate effect.

 It adds that the BoD expresses its warmest thanks to Andreas Eliades for his long service and contribution to the Bank for the last 33 years. 

In particular, the Board notes Eliades’ contribution to the establishment and operation of the Bank in Greece for 15 years and his successful term leading the Group as Chief Executive Officer for almost 8 years. 

The Bank wishes Andreas Eliades every personal and family success, the press release concludes.

Source: Cyprus News Agency

Cypriot banks participate in Greek bond swap

Three largest Cypriot banks, Bank of Cyprus, Marfin Popular Bank and Hellenic Bank, announced Wednesday they will participate in the in voluntary exchange of Greek Government Bonds Read more

Fitch Ratings Agency downgrades three largest Cypriot banks

Credit ratings agency Fitch has downgraded Cyprus’ top three commercial banks by a notch each to junk status.

Fitch said Thursday’s downgrade of the Bank of Cyprus, Marfin Popular Bank and Hellenic Bank from BBB- to BB+ is in line with a one-notch cut to Cyprus’ sovereign rating last week to just above junk status. Read more