CEO says regulator forced Co-op into Altamira, Citi deals

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CEO says regulator forced Co-op into Altamira,...
 © BusinessMail 2019
By Stelios Orphanides

The chief executive officer (CEO) of the Cyprus Cooperative Bank Nicholas Hadjiyiannis has said the bank was compelled by European regulators to enter cooperation with Altamira and Citi.

Hadjiyiannis who was commenting to state-radio CyBC on Wednesday, a day after the European Commission approved the sale of its operations to Hellenic Bank, said that the bank also lacked the capacity to foreclose to improve borrower discipline after up to 100,000 customers of the state-owned bank resorted to “payment stoppage”.

“Let us...


This article was automatically added to our system 20-6-2018

CEO says regulator forced Co-op into Altamira, Citi deals


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Article Tags: regulator, forced, altamira, deals,