Group announcement

The Board of Directors of the Bank of Cyprus, at its meeting held today, reviewed the latest developments and was updated on the first meeting between the Bank and the representatives of Troika.

In order to address market uncertainty, the Board considers that the finalization of the process to recapitalize the banking sector, in collaboration with the relevant parties, including Troika, the Central Bank of Cyprus and the Ministry of Finance, should be expedited.

Relating to recent press articles concerning the management of banks, the Board welcomes any independent investigation by the relevant Regulatory Authorities and assures that it will be in full cooperation for the completion of such an investigation.


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