Senvest becomes major shareholder in BoC

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

Lone Star mulls fourth bid for BoC

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

CySEC monitoring BoC takeover bid

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

Over 200 staff agree BoC early retirement

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.

BoC closes more branches, removes ATMs

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

Banking sector faces industrial action

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

BoC aims for 2024 dividend

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