Bank of Cyprus Suspends Operations in Romania

World | April 1, 2013, Monday // 20:10
Bulgaria: Bank of Cyprus Suspends Operations in Romania Bank of Cyprus suspends its operations in Romania, plans to sell the bank. File photo

The Bank of Cyprus in Romania says it is suspending its operations in the country for a week and plans to sell the bank.

Bank of Cyprus also has branches in Russia, Britain and Ukraine, which remain open. Its Greek operations, and those of Cypriot lenders Laiki and Hellenic, were bought by Greece's Piraeus Bank last week.

Under Cyprus's bailout deal and bank restructuring, foreign operations of Bank of Cyprus and Laiki will be closed to help shrink the Cypriot banking sector.

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Tags: Cyprus, bank, Romania

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