Cyprus Mail

Co-ops urge people to ignore false ‘haircut SMS’

CO-OP banks will not be imposing a haircut on accounts despite a flurry of rumours claiming the contrary sent out via email and SMS.

The recapitalisation of the co-ops is fully secured by the Memorandum of Understanding which was agreed between the government and the troika according to a statement released by the Co-op Central Bank on Friday.

“It is obvious that the content of the messages was meant to cause a loss in confidence in the co-operative movement and to cause panic, which is why we have already reported the matter to police,” the statement said.

It called on its members and customers to ignore any gossip that was aimed at negatively influencing their trust in co-op banks.


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