Cypriot central bank

Career banker Christodoulos Patsalides was appointed governor of the Central Bank of Cyprus on Monday for a five-year term, the island's presidency said.

Patsalides, who will represent Cyprus on the rate-setting Governing Council of the ECB, takes up his duties on April 11, replacing Constantinos Herodotou.

Bank of Cyprus, which was forced to recapitalize by seizing customer savings in 2013, said on Thursday that it has fully repaid emergency liquidity assistance (ELA) to the island's central bank.

The lender said it had repaid 11.4 billion euros in total.

Most of it was a legacy of Laiki, a lender that was shut down during the financial crisis that gripped Cyprus in March 2013.

The leaking of documents on the rescue of Cyprus’s second-biggest bank distorts the truth about the country’s bailout and may damage confidence in the euro, former European Central Bank Governing Council member Panicos Demetriades (photo) said.

The leaking of documents on the rescue of Cyprus’s second-biggest bank distorts the truth about the country’s bailout and may damage confidence in the euro, former European Central Bank Governing Council member Panicos Demetriades said.

A former governor of Cyprus's Central Bank was sentenced to five months in jail on Monday on charges of evading tax on earnings following his retirement.

Christodoulos Christodoulou, who led the Cypriot central bank for five years prior to his departure in 2007, had pleaded guilty to failing to declare revenue of a consultancy he jointly owned with his daughter.

Former Deutsche Bank CEO Josef Ackermann has been nominated as chairman of Bank of Cyprus, its US-based investors Wilbur Ross and Tyrus Capital said on Monday.

Tanzania’s central bank said on Friday it had taken over the management of a bank accused by the US government of large-scale money laundering.