Weeks after offloading 3.2% of its 4.5% holding in Hellenic Bank, fund manager Senvest Group has increased its participation in the island’s largest lender, Bank of Cyprus. According to an announcement sent
Bank of Cyprus reported Friday that their profits for the first nine months had been gobbled up by an early retirement scheme, offering up to €200,000 to employees who chose to exit.
US private equity firm Lone Star could return with the fourth attempt at a Bank of Cyprus takeover, despite seeing three cash offers rejected by the island’s biggest lender. In comments to
The Cyprus Securities and Exchange Commission (CySEC) closely monitors the non-binding takeover bids of the largest lender Bank of Cyprus, filed by US investment fund Lone Star. It is also in consultation
Private equity firm Lone Star has yet to reveal whether it plans to increase its €727 mln bid to buy Bank of Cyprus after having a cash proposal rejected by the biggest
Some 200 Bank of Cyprus employees have pushed the ‘exit’ button taking the ‘generous’ offer for early retirement with compensation, as the bank seeks to offload 500 staff before resorting to redundancies.
The Bank of Cyprus has announced plans to downsize its staff, officially offering a Voluntary Retirement Plan to 500 – 600 employees from its 3,400 workforce to maintain profitability. The news comes
Bank of Cyprus is downsizing its network by closing 15 more branches and removing ATMs by next month as it speeds up its digital presence. Phileleftheros daily quoted sources saying the bank
The banking sector is in choppy waters after employees backed their union to strike over Hellenic Bank’s intention to make 350 staff redundant, while Bank of Cyprus is also cutting branches. The
Bank of Cyprus, the one-time bellwether stock that drove the economy, maintains a conservative yet steady course to recovery, reporting an after-tax profit of €31.9 mln for 2021, a turnaround from €175