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All reports tagged with: "cyprus popular bank"

Large bank and Co-op loans probe

Loans given to former board members of the Bank of Cyprus and the now defunct Cyprus Popular Bank and other large loans are being investigated as part of the probe into the near collapse of the economy.

Loans of one billion euros to bank board members

Confidential data from the Central Bank reveals that the Bank of Cyprus and the Cyprus Popular advanced credit facilities of more than one billion euros to their board members in 2011.

Big depositors in Cyprus to lose far more than feared

Big depositors in Cyprus’s largest bank stand to lose far more than initially feared under a European Union rescue package to save the island from bankruptcy, a source with direct knowledge of the terms said on Friday.

Fitch downgrades Cypriot covered bonds

Following yesterday’s storming of the Bank of Cyprus by angry investors who claim they were mis-sold high-yield bonds, Fitch Ratings has downgraded the covered bonds of the Bank of Cyprus and the Cyprus Popular Bank.

Construction industry loans under microscope

Loans given to the construction industry by the Bank of Cyprus and the Cyprus Popular Bank will be discussed today at a meeting between the banks’ management and representatives from Pimco.

Fitch downgrades Cypriot covered bonds

Following its downgrade of three of the island’s banks last Friday, ratings agency Fitch has today downgraded the Bank of Cyprus and the Cyprus Popular Bank’s covered bond ratings.

Fitch piles more junk on the banks

Following Fitch Ratings downgrade of Cyprus sovereign credit rating on Wednesday, it has pushed the islands top three banks further into junk territory and believes that the failure of the Bank of Cyprus and the Cyprus Popular Bank “is imminent”.

Cyprus Popular Bank chairman ordered to quit

Michalis Sarris, the chairman of the Cyprus Popular Bank has been asked to step down after accusing the island’s government of making serious mistakes in a recent television interview for the BBC.

Popular bank receives state bailout

Cyprus, which applied for an EU bailout last week, acquired €1.79 billion worth of shares in the island’s second-largest lender, in a previously announced move to help it meet minimum capital levels depleted by heavy exposure to debt-crippled Greece.

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