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Bank of Cyprus new offices in Aglandjia. The Nicosia Savings Bank or Nicosia Depository (Ταμιευτήριο η Λευκωσία) was founded on 1 January 1899 by a group of Cypriots led by Ioannis Economides, a figure in financial and social circles. The bank was the first Cypriot bank, with all the other banks in Cyprus being foreign-owned.
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Panicos Nicolaou is a Cypriot banker, who has been the chief executive officer (CEO) of Cyprus’ biggest bank, the Bank of Cyprus, since 2019. Background [ edit ] He holds an MSc in Mechanical & Industrial engineering from the University of Illinois at Urbana-Champaign, US, and a BSc in mechanical engineering from the National Technical ...
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The Central Bank of Cyprus ( Greek: Kεντρική Τράπεζα της Κύπρου Turkish: Kıbrıs Merkez Bankası) is the Cypriot member of the Eurosystem and has been the monetary authority for the Republic of Cyprus from 1963 to 2007, issuing the Cypriot pound. Since 2014, it has also been Cyprus's national competent authority within ...
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Cypriot government's bond credit rating to junk status by international credit rating agencies, the consequential inability to refund its state expenses from the ...
In 2013, John Hourican was named CEO of Bank of Cyprus. At the position, he inflicted losses on depositors and a forced takeover on its smaller rival Cyprus Popular Bank. He cut 1/3 of the bank's balance by unloading bad loans, and brought in 5 billion euros in new deposits.
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