HSBC becomes correspondent bank for Bank of Cyprus

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HSBC becomes correspondent bank for Bank of Cyprus
 © In-Cyprus 2020
HSBC has become correspondent bank for Bank of Cyprus for transaction services in dollars and this is a vote of confidence for the Cypriot lender, Phileleftheros reports.

In addition to HSBC, Bank of Cyprus also has Bank of New York Mellon and Citibank NA, New York as correspondent banks for such transactions.

Correspondent banks are financial institutions that act as an agent on behalf of other financial institutions, usually foreign banks.

Insiders said the recent strengthening of the list of correspondent banks proves that Cyprus’ image in regard to money...


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HSBC becomes correspondent bank for Bank of Cyprus


The contents of this article including any associated images are © In-Cyprus 2020
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