Bank of Cyprus (BoC) on Thursday, 30 January 2014, announced the release of some €900 million that were held in fixed-term deposits, blocked following the lender’s recapitalisation in July 2013. The decision concerns the six-month time deposits that matured on January 31.
The move was made after consultations with the Ministry of Finance and the Central bank of Cyprus. The decision was taken due to a significant improvement in the bank’s liquidity in the last few months and the stabilization of the deposit base.
Through its decision the Bank’s management recognizes the improving trust and confidence towards the Bank by its customers and, in tandem, meets the expectations of the general public in Cyprus for enhancing the liquidity in the economy.
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