Bank of Cyprus

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BOC

Court verdict sends shockwaves to Nicosia

In a potentially precedent-setting decision in Cyprus, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor at now-defunct Laiki Bank, potentially exposing the state to financial implications of up to 2-3 billion euros. The court's decision, which awarded €780,000 in compensation to the depositor, could have far-reaching consequences for Cyprus.

BoC dips toe in CoCo market

Spain's BBVA and Bank of Cyprus reopened the market with the issuance of the first euro-denominated contingent convertible bonds (CoCo) since the rescue of Credit Suisse in March, in what is seen as an attempt to restore confidence in the banks' riskiest debt instruments.

Bank of Cyprus to freeze assets of those sanctioned

Cypriot individuals and entities included in British and American sanctions lists will see their assets in the Cypriot banking system frozen and will not be able to carry out any banking transactions in Cyprus, Marios Skandalis, chief compliance officer at the Bank of Cyprus, the island's largest lender, has said. 

Funds boost investment in Cyprus banks

Investing in Cypriot banks is becoming increasingly common. 

The progress they have made in terms of the nonperforming loan burden they have shed, their capital adequacy, which is characterized as good, the profits expected as interest rates rise, and the cost cuts they have implemented have transformed them into an appealing investment target.

NBG Pangaea buys CYREIT Variable Investment Company

NBG Pangaea Real Estate Investment Company of Greece announced the completion of its agreement last week with Bank of Cyprus Public Company Limited for the acquisition of a portfolio of properties in Cyprus, through the purchase of 100 percent of the management shares and 88.2 percent of the investment shares of Cypriot CYREIT Variable Investment Company PLC.

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