The largest Bank of Cyprus for the period of the first half of this year, after deducting all taxes and mandatory payments, made a profit in the amount of 81 million Euros. This is reported by correspondents of RBC Media Group.
According to the financial institution, despite the introduction of the complete abolition of restrictive measures within the organization at the end of May this year, has stabilized the condition of the deposit base of the bank. Liquidity situation in the sector has improved, which allowed from the end of July this year, to unlock the amount of the last tranche of deposits.
Its report on the activities Bank of Cyprus published the day before, when had to be held shareholders' meeting. At this meeting was supposed to address the issue of increasing the size of charter capital in the amount of 1 billion Euros, mentioned the experts of the Masterforex-V World Academy http://www.masterforex-v.com/.
It should be noted that before the bank began the process of a phased recapitalization. On the 28th of July this year, the bank's management announced the completion of the first round of placement of securities qualified investors, which was conducted under the terms established by the institution. Was issued 4 billion 200 million pcs. of new shares in the amount of 1 billion euro, per share amounted to 0.24 euro for 1 piece.
According to The Financial Times, shares in amount of 400 million Euros will redeem investor of the United States Wilbur Ross. In addition, the European Bank for Reconstruction and Development is also planning to buy shares in the amount of 100 million Euros.
