05/12/2014 14:06
Mr Hourican, Bank of Cyprus CEO, stated clearly that BOCY’ s Russian subsidiary Uniastrum will be kept.
In an interview to Bloomberg when he was asked if he wants to keep the Russian business given the current challenges Russia faces, he answered: “Absolutely, we are very happy with the relationship we have with our Russian customers, they are a significant part of our customer base”.
He also noted that the Cyprus economy is fastly recovering from the recession it is still experiencing, and that it is expected to turn to growth next year.
He said that Cyprus has a very solid business services community, numerous tax treaties and is an offshore wealth preservation centre. He expressed his optimism that Cyprus’s great tourist capability and natural gas reserves create a lot of prospects.
When asked if the bank is ready to face a possible lifting of the capital controls on international transactions John Hourican said that he would like to see them lifted and actually they encourage the government to do so in the near term.
He also referred to the imminent commencement of trading of the BOCY shares on the CSE and ASE and expressed his conviction that there will be no sell-off by bailed-in stockholders.
In an interview to Bloomberg when he was asked if he wants to keep the Russian business given the current challenges Russia faces, he answered: “Absolutely, we are very happy with the relationship we have with our Russian customers, they are a significant part of our customer base”.
He also noted that the Cyprus economy is fastly recovering from the recession it is still experiencing, and that it is expected to turn to growth next year.
He said that Cyprus has a very solid business services community, numerous tax treaties and is an offshore wealth preservation centre. He expressed his optimism that Cyprus’s great tourist capability and natural gas reserves create a lot of prospects.
When asked if the bank is ready to face a possible lifting of the capital controls on international transactions John Hourican said that he would like to see them lifted and actually they encourage the government to do so in the near term.
He also referred to the imminent commencement of trading of the BOCY shares on the CSE and ASE and expressed his conviction that there will be no sell-off by bailed-in stockholders.
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