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25.03.2014 - 14: 06

Soon completed the sale of Ukrainian "daughter" of the Bank of Cyprus

Bank of Cyprus plans in a few weeks to finalize the sale of its loss-making structures in Ukraine - PJSC Bank of Cyprus - Russian consortium "Alpha groups".

This was announced on Monday told Reuters CEO John largest Cypriot bank Khurikau. On the decision to sell 99,77% of its subsidiary, 225 million Bank of Cyprus announced 31 January.

"We hope that the Ukrainian transaction closes in the coming weeks on the agreed terms and conditions," - said Khurikau.

Governor of the Bank of Cyprus also reported that the U.S. imposed sanctions against Russia did not affect the operations of the bank's clients. He noted that the bank does not see himself as the owner of significant long-term Russian assets. "While sanctions will not have any impact on the company or business who has a business relationship with us in Cyprus", - stressed Khurikau.

Referring to the largest overseas structure of the Bank of Cyprus - Russian Uniastrum Bank - Khurikau noted that the bank is fully independent company, two thirds of which is financed by local deposits. Long before the events in Ukraine guide Cyprus bank is considering selling Uniastrum Bank through the restructuring process. Asked about the fate of the bank Khurikau said that, in his opinion, the Bank of Cyprus should not be the owner of Uniastrum Bank in the long term, but in the next few years, he will continue to own it.

Bank of Cyprus was in the center of the financial crisis in March 2013, when in exchange for providing credit assistance republic Eurogroup decided "haircut" of uninsured deposits in it and the second largest Cyprus Popular Bank, which was later abolished. At the end of last summer, the Bank of Cyprus has completed the procedure "haircuts" 47,5% deposit, the proceeds of which were primarily aimed at its recapitalization. Investors in exchange received shares of the bank, which has completely changed its shareholding structure. Since the new owners of the credit organization turned a large number of Russians, the Board of Directors of the Bank 16 6 members were elected representatives of Russia and the former head of MMC "Norilsk Nickel" Vladimir Strzhalkovskiy became deputy chairman of the board. Currently, the number of Russian directors of 5 15 people after leaving him in October 2013 years Igor Lozhevsky - vice president of Deutsche Bank in Eastern Europe.

Khurikau Tuesday went to Moscow, where he will participate in a scheduled meeting of the Board of Directors of Bank of Cyprus.

A source:

Tags: Cyprus Economy, Banking, Ukraine, Russia