Through a letter to the Athens Stock Exchange, the Bank of Cyprus Ltd. announced that articles which appeared in the newspaper “Chrimatistirio” of the 17 April 2001 do not relate to the truth. In particular the Bank noted the following:
1. Funds derived are fully justified by the size of the Bank and the Group, especially in connection with its expansion in Greece.
2. There have been no cash flow problems which hindered the operations of the Bank. On the contrary, cash flow is at very high levels.
There have been no problems with bad debts of the Bank beyond those already included in the results for 2000.
1. Funds derived are fully justified by the size of the Bank and the Group, especially in connection with its expansion in Greece.
2. There have been no cash flow problems which hindered the operations of the Bank. On the contrary, cash flow is at very high levels.
There have been no problems with bad debts of the Bank beyond those already included in the results for 2000.
Monday, 23 April, 2001 - 00:00