Economist and banker Marios Clerides, who holds a seat on the board of directors of Ancoria
Bank, the youngest Cypriot lender, said that the ECB figures do not necessarily allow comparisons as they, in the case of Cyprus, also include the number of workers, branches and banks dedicated to servicing the bank customers from abroad transacting via the Cypriot banking system.
Newly established Ancoria Bank is launching in Cyprus, where it will focus on servicing small to midsize enterprises, as well as a segment of the retail sector.
Ancoria Bank has selected Oracle FLEXCUBE Universal Banking, Oracle FLEXCUBE Direct Banking, and Oracle FLEXCUBE Information Server to support its mission of becoming the most flexible bank in Cyprus with the ability to issue new products and services within a matter of days.
Newly established Cypriot bank, Ancoria
Bank, has selected Oracle FLEXCUBE for its core banking operations.
Insurance, a Cyprus-based life insurer since 1987, is launching a banking subsidiary that will deal primarily with retail and small to medium sized (SME) financing.
Other sponsors of the event were Ancoria
Insurance, Exerte Partners, OTS, IDEA and Microsoft.
The Central Bank of Cyprus will carry on with the giving banking business licence to Ancoria
According to CBC press release issued here on Monday, Demetriades welcomed the submission of the application of Ancoria
Holdings, noting that it will be examined as soon as possible on the basis of the specific criteria which must be met by all applications in order to get a banking license, such as rules on corporate governance and the implementation of relevant European directives and guidelines.
Bank has launched operations with a total of two banking branches, one in Nicosia and another in Limassol, a total staff of 60 and an initial capital of e1/450m, the lender's chief executive officer said.
Insurance was the main sponsor of a three-day seminar organised by Agios Spyridonas Special School for children on September 10 -- 12.
Supervisory authorities will grant a banking license to Ancoria
Bank Limited, the first bank to open in Cyprus after last year's banking crisis which saw the closure of Laiki Bank, the Central Bank said.
The Cyprus-registered company is a subsidiary of Ancoria
Insurance, which has been based on the island for the last 27 years.