Bank of Cyprus showed successful performance in the ECB stress-tests

28.10.2014

 Bank of Cyprus successfully completed the Comprehensive Assessment by European Central Bank. The evaluation followed the 1 billion euro increase of the bank’s capital in September, 2014.

The Comprehensive Assessment was performed by ECB before taking on the full responsibility for the control over the measures taking in the framework of Single Supervisory Mechanism(SSM) in November, 2014.

In accordance with the Assessment results the conclusion were drowned that the Bank is not obliged to take any measures regarding the strengthening of its capital.

Dr Christis Hassapis, Chairman of the Board of Directors of the Bank of Cyprus Group, commented: “The positive result of the Comprehensive Assessment reaffirms the solid capital position of the Bank, even under the most extreme, severe theoretical stress conditions.”

Source: http://www.bankofcyprus.com/Documents/Investor%20Relations/Press%20Releases/ENG/20141026_AQRSTRESSTEST2014_ENG_FINALwithtables.pdf

Expert’s opinion

Cyprus made one more step further proving its stability and reliability. Government of Cyprus together with EU are doing everything in order for spring 2013 to have zero chances of reoccurrence.

Yaroslav Lomakin ( Managing Partner, Honest & Bright Company Ltd.)