Tag: best managed bank

24 Jan 2016 Why Bank of Cyprus may be Cyprus’ best managed bank

Mention the words ‘bank’ and ‘Cyprus’ in the same sentence and it is likely to bring back dramatic images of queues at cash tills and angry depositors. Two banks at the centre of the 2013 crisis were the now-defunct Laiki and Bank of Cyprus (BoC). BoC inherited just over €9bn in Emergency Liquidity Assistance (ELA) from Laiki, in addition to the €2bn or so it had on its own books, and things were initially very precarious for the bank, even after the bailout programme began. So why am I suggesting that BoC may be the best managed bank in Cyprus?