Bank of Cyprus CEO to Resign in Autumn

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Bank’s CEO John Hourican officially announced his decision to leave the post in September. He stated that he decided to depart in “bank’s strongest capital position in living memory’.

Speaking at a press conference during which the lender announced the results of 2018, the Irish banker also stated that the bank has a very strong position and ready to proceed to the next stage.

According to Mr. Hourican’s opinion, an indicator of the overall bank’s health is its high level of capital buffers and excess liquidity of €4.4 billion. The volume of the bank’s bad loans declined from €15 billion to €4.8 billion over six years.