Reducing Activities: company scaling back some business operations while continuing others
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Bank of Cyprus
Bank of Cyprus
The largest banking and financial Group in Cyprus, with significant market shares in all business sectors.
Reducing Activities: company scaling back some business operations while continuing others
Wait Scaling BackGlob.Revenue, mln.USD
809
The Company Statement
April 20, 2023
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.
| May 15, 2023 | Bank of Cyprus closes accounts for Russians |
| March 17, 2022 | BoC says it has ‘limited direct exposure’ to Russia |
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