Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed

The largest banking and financial Group in Cyprus, with significant market shares in all business sectors.

 
 
 
 
 

Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)

Exited Exit Completed
Glob.Revenue, mln.USD
1020

Since 2022, the largest bank in Cyprus has closed about 20 thousand accounts of Russians.

The Company Statement
January 23, 2024

Maintain loan book; observe banking sanctions. Bank of Cyprus notified 4,000 clients who have Russian passports and are not residents of EU countries that their accounts will be closed in accordance with the policy of accepting clients and the corresponding risk appetite. 22.01.2024: The legal entities (Moscow and Saint Petersburg Representative Offices) were liquidated.

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Statements Archive
October 19, 2024Cypriot banks have rejected half of their Russian clients due to sanctions
October 05, 2024Since 2022, the largest bank in Cyprus has closed about 20 thousand accounts of Russians
January 24, 2024The largest bank in Cyprus left Russia
January 22, 2024List of closed foreign banks rep offices published by Russian Central Bank
May 15, 2023Bank of Cyprus closes accounts for Russians
April 20, 2022Bank of Cyprus announced the closure of accounts of 4 thousand Russian clients
March 17, 2022BoC says it has ‘limited direct exposure’ to Russia
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