“Bank of Cyprus is very proud to be associated with this event and we extend our support to the shipping sector,” stated John Hourican, CEO of Bank of Cyprus, at the Shipping Forecast Summit 2017, which took place on February 20, in Limassol.
“The facts today suggest this business area has the potential to be a sensible, profitable and indeed long-term business for Bank of Cyprus,” Irishman Hourican told the Shipping Forecast Summit in Limassol 20 February. “We aim to become a trusting banking partner”.
Until now the BoC has stayed out of shipping finance, but plans to enter with proper hires and embedding the required expertise, Indeed, Hourican admitted he was convinced to overturn his “career long negative bias towards shipping finance from (his) own time” at the Royal Bank of Scotland.
Four years ago BoC, Cyprus’ largest bank, was forced to convert almost 50% of its depositors uninsured…
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