Article 227PP Cyprus, crisis and the bank that came back from the brink

Cyprus, crisis and the bank that came back from the brink

by
Helena Smith and Jill Treanor
from on (#227PP)
The country's biggest lender took cash away from savers to survive in 2013. Now, remarkably, Bank of Cyprus is hoping to float in London

Only three years ago, Bank of Cyprus was on the critical list. It had been forced - under the terms of a a10bn bailout of the country - to seize cash from its savers and was being kept afloat by billions of euros pumped in from the central bank.

But, in a story of revival that mirrors the recovery in the Cypriot economy, the bank is now eyeing a listing in London and outlining plans to expand in the UK.

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