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Media Centre

Cyprus Banks Emerge from Stress Tests

  • Monday, 27 October 2014 12:38
Following the publication of the European Central Bank’s pan-European stress tests yesterday, it has emerged that three Cyprus banks completed the comprehensive assessment with a capital surplus, while one concluded the exercise with a manageable shortfall.

EBRD willing to invest €800m

  • Friday, 10 October 2014 08:43
THE European Bank for Reconstruction and Development (EBRD) has expressed its willingness to invest around €800m into the Cypriot economy, mainly in the energy and tourism sectors, privatisation of semi governmental organisations and major projects of…

Josef Ackermann to join Bank of Cyprus board

  • Wednesday, 08 October 2014 08:26
Josef Ackermann is set to become non-executive chairman of Bank of Cyprus in an overhaul of its board of directors proposed by some of its biggest shareholders including Wilbur Ross, the US private equity billionaire.
Antonis Samaras’s ambition to drive Greece out of its rescue program is running into a roadblock.
The Bank of Cyprus board decided on Tuesday to call for a shareholders’ meeting within 60 days, when US-based investor Wilbur Ross is expected to be elected to the board, representing funds that now control about…