Marfin CEO: Moving HQ to Greece not linked to Cyprus’ framework

Marfin Laiki Bank's (MPB) decision to move its Headquarters from Cyprus to Greece is not connected with Cyprus' banking supervisory framework, the Bank's CEO Efthymios Bouloutas said on Tuesday.

In early May, Marfin's executive vice chairman Andreas Vgenopoulos announced the bank's decision to move its HQ to Greece, criticizing Cyprus' ''conservative'' supervisory framework, namely that of the Central Bank and the Cyprus Securities Commission.

''We stick on those we announced. We have not connected (our decision) for the moving of our HQ with amendments of the framework. We do not change our decision to seek an egalitarian legislative environment,'' he said, denying suggestions that Vgenopoulos' statements were made in a bid to secure amendments to the Cyprus’ supervisory framework.

Bouloutas said that Vgenopoulos will give further explanations in a meeting with the Cyprus House Financial Affairs Committee during which the issue of cross-border mergers will be discussed.