Cyprus Stock Exchange : Proceeding with an asset exchange with another bank
08/20/2012| 03:38am US/Eastern
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Announcement
Bank of Cyprus Group Announcement
Nicosia, 20 August 2012
Further to press articles reporting that Bank of Cyprus Group
is proceeding with an asset exchange with another bank, the
Bank of Cyprus Group announces that, as part of its plans for
the strengthening of its capital position and its balance
sheet, it is considering a number of options. One of these
possible options is the exchange of assets and liabilities
with one of the Greek banks operating in Cyprus. Currently
all the possible options for the strengthening of the capital
position of the Group are being examined and there is nothing
specific to be announced at this stage.
Founded in 1899, the Bank of Cyprus Group is the leading
Cypriot banking and financial services group. In addition to
retail and commercial banking, the Group's activities include
finance, factoring, investment banking, brokerage, fund
management, private banking, life and general insurance. The
Group currently operates through a total of 573 branches, of
which 194 operate in Russia, 187 in Greece, 135 in Cyprus, 42
in Ukraine, 10 in Romania, 4 in the United Kingdom and 1 in
the Channel Islands. Bank of Cyprus also has 6 representative
offices in Russia, Romania, Ukraine, Serbia and South Africa.
The Bank of Cyprus Group employs 11.175 staff worldwide.
At 31 March 2012, the Group's Total Assets amounted to €38,66
bn and the Shareholders' Funds were €2,85 bn. The Bank of
Cyprus shares are listed on the Cyprus and Athens Stock
Exchanges. Additional information can be found on the Group's
website www.bankofcyprus.com.
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