Cyprus Mail

New Laiki administrator appointed

By Stelios Orphanides

The Central Bank of Cyprus in its capacity as resolution authority, on Monday appointed Chris Pavlou administrator of the defunct Cyprus Popular Bank, also known as Laiki.

“In addition, the resolution authority announces that it reached a preliminary agreement with the Investment Bank of Greece, a Laiki Bank affiliated unit, to provide financial consultant services on the evaluation and possible sale of Laiki Bank’s assets, aiming at maximising benefits to its creditors,” the CBC said.

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