Information that the Bank of Cyprus is about to proceed to layoffs or mandatory retirements that may affect 1500 employees is causing turmoil among the bank’s 4300-staff. BOCY announced its new...
HSBC has upgraded its recommendation for BOCY to 'buy' from 'hold' keeping the target price of €0,18. On the occasion of the bank increasing provisions for 2015 by €600 mn, HSBC notes that the price...
11/02/2016
A lump sum compensation of a maximum of €200 thousand is provided among others in the voluntary retirement plan announced by the Bank of Cyprus today. According to a circular by the Bank sent to the...
08/02/2016
A tax-free lump sum that is expected to reach up to 35 or even more monthly wages based on years of service, will be provided among others by the voluntary retirement plan prepared by the Bank of...
08/02/2016
Decisions have been taken at the Bank of Cyprus and the management is expected to announce a new voluntary retirement plan within the next few days. The Bank's management has already informed the...
04/02/2016
The Bank of Cyprus made a profit warning today that it will register a loss of €400 mn in 2015, due to additional loan provisions of €600 mn in line with the European Central Bank's requirements. In...
02/02/2016
The management of the Bank of Cyprus is pushing for a new staff assessment system based on five axes, aiming at modernising methods of identifying the added value employees offer to the organization...
27/01/2016
The CEO of the Bank of Cyprus John Hourican said that rumors on upcoming mass foreclosures are nonsense, adding that the period of patience has come to an end for the Bank. Mr. Hourican who gave a...
26/01/2016
Despite the economic recovery, the extremely weak loan quality of bank of Cyprus and Hellenic bank will only gradually improve in 2016, Moody's Investors Service said in a report published today....
Bank of Cyprus is preparing a voluntary early retirement plan in an effort aiming at gradually shrinking its work force at levels below 4.100 so as to limit its annual payroll expenses. The director...
26/01/2016