Bank of Cyprus denies Piraeus talk

Responding to certain press articles published in the Greek and Cypriot press, the Bank of Cyprus Group denied that it is engaged in talks to extend any cooperation with Piraeus Bank or appoint an investment bank to help it in this regard.

There is frequent cooperation between the Bank of Cyprus Group and international investment houses aiming at obtaining their advice and evaluation of all the parameters and the strategic steps which the Group may be examining. The Group has not instructed any international investment house to prepare a specialised study on the subject of a possible cooperation with Bank of Piraeus, said the Bank in response to a report in Philelefteros.

It has been repetitively stated in the past that the Group’s priority is its dynamic expansion in Cyprus and Greece. The Group’s very good results both in terms of growth and profitability are well known, as are the Group’s prospects regarding its imminent expansion to Romania and particularly Russia.

At the same time, it has been stressed that, the Group reviews the developments in all these markets and each step for cooperation or expansion is evaluated based on safeguarding the shareholders’ interests.

The articles published from time to time in the Cypriot and Greek press may portray the wrong impression regarding developments. According to its policy, the Group informs the investing public with transparency and clarity on all important matters.