CNP Assessing Cyprus Crisis Impact on Laiki Venture
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CNP Assurances SA, France’s largest life insurer, is assessing the impact of the Cypriot crisis on its joint venture with Cyprus Popular Bank Pcl, the lender that will be dismantled as part of the island’s bailout.
The restructuring of the banking system and the Cypriot economic crisis will have an impact that can’t be evaluated as of today, a CNP official said by telephone. The company is analyzing the consequences of the accords between the Eurogroup and the Cypriot authorities, he said.