Cyprus: Bank restrictions to be relaxed

Further relaxation of bank restrictions in Cyprus will be announced in the coming weeks, Finance Minister Haris Georgiadis said.

Bank of Cyprus (BoC) the island’s biggest lender which exited resolution status in July, will not be exempted as some press reports have suggested, he said. “This is totally wrong. Bank of Cyprus is now on the same level as the remaining banks in Cyprus. And there will not be any decision taken which is either more or less favorauble towards any of the island’s banks,” he said.

“We are on track with Bank of Cyprus’ road map which provides exactly the gradual relaxation of all restriction measure,” Georgiadis said.

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(Photo: EUCyprus)