Arab Today, arab today bank of cyprus sells off subsidiary in ukraine
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Bank of Cyprus sells off subsidiary in Ukraine

Arab Today, arab today

Arab Today, arab today Bank of Cyprus sells off subsidiary in Ukraine

Nicosia - XINHUA

Bank of Cyprus said on Friday that it had sold its subsidiary in Ukraine in line with a recommendation by Cyprus's international lenders. The bank's president, Crhistis Hasapis, said the subsidiary was sold for 225 million euros (304 million U.S. dollars) but he did not name the purchaser. He added that the selling of the Ukrainian subsidiary will both lead to a risk reduction given the turmoil in Ukraine and strengthen the bank's liquidity. Bank of Cyprus was forced to alienate its Greek business, which accounted for about half of its turnover, as part of a 10-billion-euro bailout for Cyprus by the Eurogroup and the International Monetary Fund 10 months ago. It was also instructed to sell off its subsidiary in Ukraine as part of moves to reduce its size. Hasapis said the selling of the bank's interests in Ukraine is part of the moves to restore its normal operation in line with the overall economic situation. Bank of Cyprus announced on Thursday the release of 950 million euros in time deposits frozen under a recapitalization arrangement last year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of cyprus sells off subsidiary in ukraine Arab Today, arab today bank of cyprus sells off subsidiary in ukraine

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of cyprus sells off subsidiary in ukraine Arab Today, arab today bank of cyprus sells off subsidiary in ukraine

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday