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Cyprus Eastern Forum Index » Banking & Insurance » Bank of Cyprus fully repays ELA ahead of LSE trading
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Bank of Cyprus fully repays ELA ahead of LSE trading 
Post: #1   PostPosted: Fri Jan 06, 2017 3:49 am Reply with quote
Steve - SJD
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Bank of Cyprus fully repays ELA ahead of LSE trading

The Bank of Cyprus announced today that it has repaid fully the emergency
liquidity assistance (ELA), describing this development as another milestone
in its recovery course.

ELA peaked at €11.4 billion in April 2013, after the bank absorbed assets of
Laiki Bank which went into liquidation, along with €9.4 bl ELA liability.

The full repayment of ELA comes as the bank`s shares trading on the
London Stock Exchange begins on January 19.

“This is another significant milestone in the Bank’s journey back to strength
since 2013, and was achieved through a number of actions including the
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Post: #2   PostPosted: Fri Jan 06, 2017 8:27 am Reply with quote
bubblechris
Joined: 27 Mar 2009
Posts: 4861
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Location: Waltham Abbey, Essex E9

 
With the question of toxic bonds, dishonest past directors, claims of customers being missold shares as deposit accounts, toxic loans etc etc wouldn't it be better to sort those things out before floating on the UK stock exchange?

I still want to see the accounts 're the haircut as well.
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Bank of Cyprus fully repays ELA ahead of LSE trading 
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