Bank of Cyprus
The Bank of Cyprus (BoC; Greek: Τράπεζα Κύπρου; Turkish: Kıbrıs Bankası) is a Cypriot financial services company established in 1899 with its headquarters in Strovolos.The withdrawal of the London Stock Exchange and the reintroduction of Bank of Cyprus to the Athens Stock Exchange is the next big step in its 125-year history, as it reinforces its strategy for long-term growth and value creation for both its shareholders and customers, while increasing its awareness among a wider base of institutional and private investors.The start of trading at the Athens Stock Exchange was accompanied by the traditional ceremony, in the presence of the Chairman of the Board of Directors of the Bank, Mr. Takis Arapoglou, the Bank's CEO, Mr. Panikos Nikolaou, the Executive Director of the Finance Department, Ms. Eliza Livadiotou, the Managing Director, Athens Stock Exchange Group, Mr. Giannos Kontopoulos, the President of the Capital Market Commission, Ms. Vasiliki Lazarakou, executives and guests of the Bank.The Bank of Cyprus currently operates 58 branches (3 of which are cash offices not offering loans) or business offices across the Republic of Cyprus.[22] Ross represented funds that controlled about 19% of the bank, including Renova Group's affiliate Lamesa Investments Ltd 9.2% stake in 2018 (5.46% in 2014) and TD Asset Management with 5.23% in 2014.[23][24] Ross brought with him as co-chair Vladimir Strzhalkovsky, who was a former KGB agent and one-time chairman of Norilsk Nickel from August 2008 to December 2012, as well as a long-time close associate of Vladimir Putin; however, Strzhalkovsky was replaced in 2015 with Maksim Goldman, who was a board member of Rusal until 11 April 2018 and directs the Viktor Vekselberg associated Renova Group's strategic projects.[25][26][27][28][29] A decision was imposed by EU finance ministers to force depositors in Cyprus to take a loss (bail in), in order to help fund an International Monetary Fund and euro zone bailout (bail-in in the case of Bank of Cyprus: with 47.5% of uninsured depositors, above 100,000 Euro, contributing to the bank's recapitalization).
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