Last checked at 20 Mar 2020 10:25
Announcement
Nicosia, 20 March 2020
Further to its announcement dated 24 January 2017, Bank of Cyprus Holdings Public Limited Company ("BOC Holdings" and, together with its subsidiaries, the "Group") notes that on 19 March 2020, the Assize Court of Nicosia discontinued Criminal CaseNo. 284/2017 and discharged all accused, including Christodoulos Patsalides, First Deputy Chief Executive Officer, Eliza Livadiotou, Executive Director Finance, and Despina Kyriakidou, Director Treasury, who had been charged with various criminal offences relating to events occurring before the financial crisis of 2013 and the bailing-in of Bank of Cyprus Public Company Limited (the "Bank").
The Court ruled that there had been clear and serious abuse of the process of the Court and that in fact the specific prosecution should never have been instituted.
For further information, please contact Investor Relations at investors@bankofcyprus.com.
Group Profile
The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 108 branches in Cyprus, of which 11 operate as cash offices. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,134* staff worldwide. At 30 September 2019, the Group's Total Assets amounted to €21.1 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.
\* The Bank of Cyprus Group employed 4,134 staff worldwide as at 30 September 2019. The number of staff has been reduced by c.470 employees following the completion of a voluntary staff exit plan in October 2019.