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Bank Of Cyprus Intends To Sell Russian Uniastrum Bank
14.06.2014 13:15
Bank Of Cyprus Intends To Sell Russian Uniastrum Bank

Bank of Cyprus intends to sell Russian Uniastrum Bank as part of the restructuring process, writes The Financial Times.

      The newspaper was informed about this by the head of Bank of Cyprus John Hourican, who took this position in 2013. In 2008, the Bank of Cyprus paid $ 576 million for 80% of Uniastrum Bank. 20% of shares remained with the founders of the Russian credit organization, the newspaper reminds.

      In total, Cyprus bank owns 300 branches, of which more than half are Uniastrum bank branches, and employs 7.7 thousand employees, of which a third are employees of Russian credit organization, the article says.

Author: Anna Dorozhkina

Tags: Russian banks     

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