Bank of Cyprus releases fixed-term deposits

The Bank of Cyprus decided to release fixed-term deposits worth €950 mln, that were retained in accordance to a recapitalization decree, issued in July 2013 and expire on January 31, 2014.
Announcing the decision on Thursday, BoC Board Chairman Christis Hasapis said the move was made after consultations with the Ministry of Finance and the Central bank of Cyprus.

The Bank is returning the trust shown by its depositors, Hasapis noted, adding that the move aims to meet society’s expectations to reinforce the real economy and boost cash flow in the market.