Bank of Cyprus controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2013
Cyprus depositor bail-in
As part of the Cyprus banking rescue and Bank of Cyprus restructuring, depositors with balances above €100,000 had a substantial portion converted into bank equity. The measure was politically and socially controversial and reshaped the bank’s ownership.
2009
Banca Transilvania transaction litigation
Romanian authorities charged the head of Banca Transilvania’s administration council and the head of Bank of Cyprus Romania over alleged market manipulation and money laundering connected with a share transaction. Both were acquitted by the Bucharest Tribunal and the Bucharest Court of Appeal.
2008
Uniastrum investment losses controversy
Soon after Bank of Cyprus acquired control of Uniastrum, funds under the Russian bank’s management failed, with reported investor losses. The episode became part of criticism of the group’s international expansion.