Bank of Cyprus Angered Over Leaked Confidential List

May 24, 2014
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A Bank of Cyprus' confidential list that includes its twenty-four largest debtors and their owed amounts, was leaked to Stockwatch news portal on Thursday.

The document also contains the financial institute's monetary status analysis and action protocols. The Bank of Cyprus is extremely angered at the infringement and plans to take legal action.

The written evidence was noted a year ago, and states that the twenty-four defaulters owed a total amount of approximately 5 billion euros, as of last June. This figure amounted to almost a third of the nation's GDP.

The largest debt holder listed was Lanitis E.C. Holdings Ltd., at 576 million euros. The report stated, "The bank's board decided on March 8, 2013, to grant €13.65m to cover interest due for 2012 and 2013". Leptos Group was documented as owing 510 million euros, while NKS Shacolas Holdings Ltd. held 315 million euros in outstanding debts. Dolphin Capital Investors' figure amounted to 300 million euros.

As reported by Parikiaki, the following debtors were included in the Bank of Cyprus' classified list:

Joannou & Paraskevaides Group with total dues €310m
Limassol Marina Ltd with €138m
Louis Group with €217m
Libra Group with €134m
G. Paraskevaides Group with €110m
Quality Group with €172m
Galatariotis Group with €100m
K. Athienitis Contractors & Developers with €193m
Constantinos Shacolas Group with €185m
Hassapis Group with €212m
Frangoudes & Stephanou Group with €169m
SFS Group Public Co Ltd with €147m
Lefkaritis Group with €118m
Panayides-Farmakas Group with €102m
Tsokkos Hotels Group with €172m
Aqua Sol Group with €199m
D. Zavos Group with €134m
Piitarides (Fairways) Group with €100m
ELPE/Latsis with €200m

The Bank of Cyprus offered a statement, concerning the private financial information. It read: "The bank affirms that it has taken all due measures to investigate the issue and punish those responsible...Among these, the bank has instructed the internal audit service to investigate this matter, and is determined to bring those responsible to the competent authorities."

(Source: http://www.parikiaki.com/2014/05/bank-of-cyprus-furious-over-leaked-debtors-list/)

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