HB not for sale, Archbishop says

The Church of Cyprus announced on Thursday that it is not in negotiations for the sale of Hellenic Bank. “There are rumours from time to time concerning mergers and acquisitions of banks. The Church of Cyprus, as major shareholder of Hellenic Bank, declares that it does not intend to sell its shares in Hellenic Bank and, therefore, it is in no negotiations”, Archbishop Chrysostomos B said in a written statement.

His written statement followed rumours for an imminent acquisition of Hellenic Bank by Bank of Cyprus. The Church is the major shareholder of HB with a total stake of 25%. It also holds more than 5% in BOCY.