Financial Reporter #Eurobank #Exchange #Competition #Panikos Nikolaou #Greek Bank #Bank of Cyprus
Bank of Cyprus CEO Panikos Nikolaou was asked to comment on the acquisition of Hellenic Bank by Eurobank and the new conditions it creates for competition, as well as whether the Bank is in discussions about the acquisition of a small bank, during the presentation of the financial results of the Group for the six-month period.
In relation to the rumors of a takeover of a small bank, Mr. Nikolaou, after clarifying that "as a general principle we do not comment on rumours", he emphasized that "we are a Bank that is included in two Stock Exchanges and when there is something that can be announced, based on our obligations we will announce it"
"Our overall strategy is that we are open to acquisitions, in the sense that if there is something that can help our strategy, but also achieve our goals faster than we could on our own, we look at it," he pointed out.
Read here:
Bank of Cyprus: Profits of €401 million in the first half of the year - Supervisory approval for dividend payment to be withdrawn
Read also:
Positive sign in the return of the Bank of Cyprus to the Athens Stock Exchange - "The first indications are very good"
Regarding the competition after the acquisition of Hellenic Bank by Eurobank, the CEO of Bank of Cyprus said that “we have our strategy and we are proceeding as we would proceed. However, it can make us move a little faster."
"Competition is competition and we always take it into account in all our business plans. It's nothing new. There are banks, there is Eurobank, there is Hellenic, they continue to operate autonomously. When they come together at some point, it will be something we will see when it happens," he further emphasized.
Asked, moreover, regarding the signing of the collective agreement between Hellenic Bank and ETYK, Mr. Nikolaou clarified that "the collective agreement that was signed is the same as the one we have signed for some years".
"So, with the signing of the contract, Hellenic Bank has reached the same level as the rest of the banks," he concluded.
See Also Panikos Nikolaou: Lending rates, the foreign investment control bill and the windfall tax Register
