Announcement regarding Nicosia Assize Court fine

RNS Number : 2045B

Bank of Cyprus Holdings PLC

08 January 2018

 

Announcement

Nicosia, 8 January 2018

Bank of Cyprus Holdings Public Limited Company announces that on 5 January 2018 a fine of €120,000 was imposed on Bank of Cyprus Public Company Limited (the "Bank") by the Nicosia Assize Court in respect of its conviction under sections 19 and 20(1)(c) of the Insider Dealing and Market Manipulation Law 116(I)/2005. The Bank was convicted and sentenced as above on account of misleading statements as to its capital position made on 19 June 2012 at the Bank's Annual General Meeting by its then Chief Executive Officer, namely its liability is "by attribution" and identification. The Bank will file an appeal against both conviction and sentence.

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 123 branches, of which 121 operate in Cyprus, 1 in Romania and 1 in the United Kingdom. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,319 staff worldwide. At 30 September 2017, the Group's Total Assets amounted to €22.9 bn and Total Equity was €2.6 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.

 

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