THE viability of the Bank of Cyprus (BoC), the island’s biggest, is a national priority, new ruling DISY leader Averof Neophytou said yesterday, as he called for the immediate appointment of a board to oversee the lender’s restructuring following a Eurogroup decision to impose hefty losses on its uninsured depositors.
The Cypriot economy’s salvation goes through the rescue of BoC, Neophytou said.
“Everyone must understand this. The new BoC, after the merger with Laiki, has a local share that exceeds 60 per cent,” Neophytou said.
The majority of businesses were BoC customers, he said, adding that the absence of a leadership at the lender had cost the economy a lot.Read More