Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bank of Cyprus Freezes Asset Exchange Plan, ekathimerini Says

Aug. 25 (Bloomberg) -- Bank of Cyprus Pcl is freezing a plan to exchange its Greek assets for the Cypriot assets of one of the Greek banks operating in Cyprus, ekathimerini said, citing unnamed sources.

The main reason for the decision is the absence of reliable estimates regarding bad loans both in Greece and Cyprus at a time when a further deterioration of the economies in both countries is expected, the English-language version of the Kathimerini newspaper reported on its website today. It didn’t name the Greek bank.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.