Bank of Cyprus sells UK subsidiary

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Bank of Cyprus sells UK subsidiary
 © KNEWS 2018
The Bank of Cyprus Financial Services is being sold to Cynergy Capital, as the BoC walks away from the UK to put more focus on performance in a rebounding Cypriot economy.

According to Kathimerini Cyprus, a binding agreement has been signed worth an estimated total of €117, half of which will be paid cash and the rest in installments following the approval of the deal.

The sale of the BoC UK group is seen as part of a broader strategy, which is to create added value for its shareholders and focus mainly on supporting the rebounding of the Cypriot economy,...


This article was automatically added to our system 10-7-2018

Bank of Cyprus sells UK subsidiary


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