Bank of Cyprus Public Co Ltd

Type: Company
Name: Bank of Cyprus Public Co Ltd (Bank of Cyprus Ltd)
Nationality: Cyprus
Fact Sheet: Fact Sheet for Bank of Cyprus Ltd.
First reported 7 hours ago - Updated 3 hours ago - 2 reports

Bank of Cyprus sells out holdings in Romanian Marriott hotel to its partner Strabag for EUR 95mn

Bank of Cyprus will sell out for EUR 95mn to Austrian construction company Strabag its holdings related to Romanian hotel Marriott in Bucharest , including a 35.3% participation in the company that manages the hotel, a credit line and a subordinated loan, ... [Published 4 Traders - 3 hours ago]
First reported Aug 20 2014 - Updated 11 hours ago - 3 reports

Bank of Cyprus: Agreement for the sale of assets in Romania for €95m

Bank of Cyprus announced that it has signed an agreement to sell its assets related to Societatea Companiilor Hoteliere Grand S.R.L. (GHES) to the Austrian stock company STRABAG SE for a total consideration of €95m, subject to adjustments to be made upon ... [Published Capital.gr - 11 hours ago]
First reported Aug 20 2014 - Updated 15 hours ago - 3 reports

Bank of Cyprus sells stake in JW Marriott hotel in Bucharest to Strabag

Bank of Cyprus will sell its 35.3% stake in the Romanian company that controls the JW Marriott five-star hotel in Bucharest to Austrian group Strabag, the bank has announced.The transaction, which has a value of EUR 95 million, also includes a credit ... [Published Romania Business Insider - 15 hours ago]
First reported Aug 20 2014 - Updated 23 hours ago - 5 reports

Bank of Cyprus sells Romanian hotel stake for €95mn

Troubled Bank of Cyprus, the island’s largest lender, said yesterday it has agreed to sell its stake in Romania’s Marriott Bucharest Grand Hotel to an Austrian firm for €95mn. The bailed-in bank said the proceeds will enhance its liquidity. BoC’s Romanian ... [Published Gulf Times - 23 hours ago]
First reported Aug 20 2014 - Updated Aug 20 2014 - 1 reports

BoC to sell more property

The Bank of Cyprus, the island’s largest lender, has expanded its list of property for sale with 54 pieces now listed on its web site, Phileleftheros newspaper reported on Wednesday.The property involves assets which were taken over by the bank in payment ... [Published The Cyprus Weekly - Aug 20 2014]
First reported Aug 14 2014 - Updated Aug 14 2014 - 1 reports

BAILOUT: Bank of Cyprus ELA drops to €8.68 bln in July

The dependence of the bailed-in Bank of Cyprus (BOCY) on the Emergency Liquidity Assistance (ELA) recorded a further decrease to 8.68 bln euros in July from 8.78 bln the previous month, continuing a downward trend recorded in recent months, according ... [Published Financial Mirror - Aug 14 2014]
First reported Aug 14 2014 - Updated Aug 14 2014 - 1 reports

Old BoC shareholders seek court order

By George PsyllidesCLOSE to 300 old Bank of Cyprus shareholders have filed a request seeking a court order preventing a share capital increase before the “real” value of their shares was restored.Numbering approximately 88,000, the bank’s old shareholders ... [Published Cyprus Mail - Aug 14 2014]
First reported Jul 31 2014 - Updated Jul 31 2014 - 3 reports

XINHUA - Bank of Cyprus lifts restrictions on time deposits

Bank of Cyprus lifts restrictions on time depositsContributed by NAMPA / Xinhua.NICOSIA, July 31 (Xinhua) -- Bank of Cyprus announced the lifting of all remaining restrictions on local bank transactions by releasing 12-month time deposits worth 927 million ... [Published Namibia Press Agency - Jul 31 2014]
First reported Jul 29 2014 - Updated Jul 30 2014 - 4 reports

BONDS: Bank of Cyprus to issue €1bn in September

The ink had hardly dried on a deal that will see Bank of Cyprus get a €1 bln capital increase, mainly from foreign investors, and the bank’s CEO announced that the island’s biggest lender will issue €1 bln in bonds some time in September.This follows ... [Published Financial Mirror - Jul 30 2014]
First reported Jul 29 2014 - Updated Jul 30 2014 - 7 reports

Bank of Cyprus completes $1bn private share placement

NICOSIA: Bank of Cyprus, the island’s largest lender, has completed a €1bn ($1.34bn) capital increase in a private placement to help it restructure following a haircut on deposits last year.BoC said the successful placement of 4.2 billion new ordinary ... [Published Qatar Peninsula - Jul 30 2014]
First reported Jul 28 2014 - Updated Jul 29 2014 - 10 reports

Wilbur Ross on investing in Bank of Cyprus

WL Ross & Co. CEO Wilbur Ross on his leading investment into Bank of Cyprus. ... [Published FOX Business - Video - Jul 29 2014]
First reported Jul 27 2014 - Updated Jul 28 2014 - 3 reports

Board meeting

The board of the Bank of Cyprus meets at 10.30 on Monday to decide on increasing the share capital of the bank.This follows an evaluation of tenders submitted by qualified investors in a process which ended on Friday.The Board will decide which of the ... [Published The Cyprus Weekly - Jul 28 2014]

Quotes

"The sale is being implemented as anticipated by the Restructuring Plan. It is also in line with the Group's decision to gradually reduce its presence in Romania and to finally exit the Romanian market" the statement said
"The proceeds of the sale will enhance the bank's liquidity position" it added
"We had to raise $1.7 billion which then had to be held in liquid assets," he said. "So we were probably raising them at a higher rate than we were investing them, but when we picked up those assets on July 1, they were then applied to higher margin business."
"This was a target for 2015, but recent reports have suggested that it is more likely to happen in 2016. Indeed, as a direct consequence of the failings of the current subsidised public healthhealth system, where waiting lists are long and fees were increased for most consultations and hospital visits in August 2013, private medical insurance has experienced an increase in demand, even during the economic crisis."

More Content

All (275) | News (242) | Reports (0) | Blogs (28) | Audio/Video (0) | Fact Sheets (4) | Press Releases (0)
sort by: Date | Relevance
Bank of Cyprus sells out holdings in Romanian M... [Published 4 Traders - 3 hours ago]
Strabag acquires EUR 95 mln stake in JW Marriot... [Published Eurobuild - 7 hours ago]
FACTBOX-European banks' exposure to Russia [Published Sharenet - 8 hours ago]
Bank of Cyprus: Agreement for the sale of asset... [Published Capital.gr - 11 hours ago]
Bank of Cyprus sells stake in JW Marriott hotel... [Published Romania Business Insider - 15 hours ago]
Bank of Cyprus sells Romanian hotel stake for €... [Published Gulf Times - 23 hours ago]
Bank of Cyprus sells Romanian hotel stake [Published ekathimerini.com Latest News - Aug 20 2014]
Bank of Cyprus to sell assets in Romania as par... [Published Namibia Press Agency - Aug 20 2014]
Bank of Cyprus sells Romanian Marriott for $126... [Published Hospitality World Network - Aug 20 2014]
Bank of Cyprus to sell assets in Romania as par... [Published Xinhua News Agency - Aug 20 2014]
Bank of Cyprus sells Romanian hotel stake for 9... [Published XinMsn - Aug 20 2014]
Bank of Cyprus sells Romanian hotel stake for 9... [Published Focus Bulgaria - Aug 20 2014]
BoC to sell more property [Published The Cyprus Weekly - Aug 20 2014]
AFP - Cyprus-economy-company-banking-Romania-Au... [Published Namibia Press Agency - Aug 20 2014]
BoC agrees to sell hotel in Romania [Published Cyprus Mail - Aug 20 2014]
Tales from the Coffeeshop: Russia’s resounding ... [Published Cyprus Mail - Aug 17 2014]
Cooperative Banks underreported risks/NPLs [Published Cyprus Mail - Aug 17 2014]
Future bleak for Paradise Hills owners [Published Cyprus Mail - Aug 17 2014]
BAILOUT: Bank of Cyprus ELA drops to €8.68 bln ... [Published Financial Mirror - Aug 14 2014]
Old BoC shareholders seek court order [Published Cyprus Mail - Aug 14 2014]
‘Back to the brink of bankruptcy’ [Published Cyprus Mail - Aug 13 2014]
S&P Lowers Outlook on Canada’s Six Big Banks to... [Published Epoch Times - Aug 12 2014]
CYPRUS: FBME Cards lays off staff, JCC resumes ... [Published Financial Mirror - Aug 12 2014]
Inquiries ongoing in econ criminal probe [Published Cyprus Mail - Aug 11 2014]
Strings attached [Published The Cyprus Weekly - Aug 11 2014]
Bendigo and Adelaide bank looking ... [Published Canberra Times - Aug 11 2014]
Cypriot insurers still suffering following bank... [Published Insurance Insight - Aug 11 2014]
Cypriot insurance market still struggling despi... [Published Actuarial Post - Aug 11 2014]
We believe [Published The Cyprus Weekly - Aug 11 2014]
Tales from the Coffeeshop: No closure on forecl... [Published Cyprus Mail - Aug 10 2014]
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Bank of Cyprus sells Romanian hotel stake [Published ekathimerini.com Latest News - Aug 20 2014]
Troubled Bank of Cyprus, the island’s largest lender, said on Wednesday it has agreed to sell its stake in Romania’s Marriott Bucharest Grand Hotel to an Austrian firm for 95 million euros.The bailed-in bank said the proceeds will enhance its liquidi ...
Bank of Cyprus completes capital increase [Published ekathimerini.com Latest News - Aug 06 2014]
Bank of Cyprus, the island’s largest lender, has completed a 1 billion euro ($1.34 billion) capital increase in a private placement to help it restructure following a haircut on deposits last year.BoC announced late Monday the successful placement of ...
US billionaire eyes 'significant' portion of 1 ... [Published ekathimerini.com Latest News - Jul 30 2014]
US billionaire Wilbur Ross said on Tuesday that he will take a “significant” portion of the 1 billion euros worth of new shares being sold by Bank of Cyprus but that the complexities of the deal make it impossible to say how much at this point.Bank of ...
BoC eyes bond sale after raising 1 bln euros [Published ekathimerini.com Latest News - Jul 29 2014]
LONDON/NICOSIA – Bank of Cyprus, which has just raised 1 billion euros from investors, plans to sell up to 1 billion euros in bonds in September, chief executive John Hourican said, a move that would mark a rehabilitation of the eurozone’s first bank ...
Wilbur Ross on investing in Bank of Cyprus [Published FOX Business - Video - Jul 29 2014]
WL Ross & Co. CEO Wilbur Ross on his leading investment into Bank of Cyprus. ...
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