Monday, 25 March 2013

Bank of Cyprus UK "no effect"

Bank of Cyprus UK, which has 50,000 depositors in the UK, says they will not lose out because of the deal between Eurozone finance ministers on a bailout for Cyprus.

It issued a statement, reading: "There is no effect on deposits with Bank of Cyprus UK Limited which is a UK bank".

The bank's customers in Cyprus are in danger of losing a portion of deposits above the 100,000 euros guaranteed by the government of Cyprus.

However, Bank of Cyprus UK emphasised that it was a separately capitalised UK incorporated bank, subject to UK financial regulation.

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