Cyprus Mail
Business Cyprus

Hellenic Bank ready to help fix mess caused by Co-op setoff

Hellenic Bank said on Tuesday that while it had no involvement in the reconciliation of loans and deposits at accounts at the Co-op it is ready to help affected customers by immediately opening new accounts.

“Hellenic Bank has become the recipient of complaints by customers of the former Cyprus Cooperative Bank concerning the setoff of deposits with loans extended by the former Co-op,” the bank said. “We understand that the setoff may have affected current accounts, credit and debit cards, issued cheques, standing orders linked to the above loans (and) deposits”.

The deposits at accounts of the former state-owned Cyprus Cooperative Bank were transferred to Hellenic Bank as they were shaped on September 1, 2018, the bank said.

“Any decision to setoff loans (and) deposits was strictly a decision of the former Cyprus Cooperative Ban, with which Hellenic Bank had no involvement,” it said. “This decision was carried out ahead of the acquisition and transfer to Hellenic Bank and was not within Hellenic Bank’s control”.

“In our effort to help the situation, Hellenic Bank is ready to assist certain customers with the immediate opening of new accounts and any other required service via its branch network,” it said.

Related posts

Pasykaf launches public awareness campaign on thyroid cancer

Evie Andreou

Halloumi PDO still being discussed says European Commission

Evie Andreou

Turkey, Greece agree to resume talks after four years

Reuters News Service

Extortion investigated after woman buys flat that doesn’t exist

Evie Andreou

Pink silhouettes march to be a different affair this year

Evie Andreou

Match fixing allegations seem presumptive and premature

Kyriacos Nicolaou