ACTMEDIA NEWS AGENCY

  |  2013-04-26

Deposits from Bank of Cyprus branch will move to Marfin Romania

Deposits of Bank of Cyprus branch will be transferred to the balance of Popular Bank of Cyprus, Marfin Bank an institution registered in Romania which will be capitalized with 20 million euro.

The Central Bank of Cyprus approved in Thursday the transfer of deposits from Bank of Cyprus branch to the Popular Bank of Cyprus, Marfin Bank, a credit institution registered in Romania and supervised by BNR.The over 1000 deponents will have access to accounts as of next week.

 

The final form of transaction supposes the taking over of credits granted to small and medium companies.“Credits were selected to have a good debt service. Bank employees from banks which wanted to take over Bank of Cyprus worked on the selection,” bank sources told Mediafax.

 

More than half of deposits of 90 million euro were covered by cash and some by credits.

 

Marfin Romania will be capitalized by Cyprus with 20 million euro.

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