Cyprus Mail

Recent Co-op uncertainty prompts customer flight to BoC

Bank of Cyprus has seen a windfall of new business in the past few months due to the uncertainty that was created at the co-op bank in the run up to its acquisition by Hellenic.

According to the Cyprus News Agency (CNA) in July and August, 24,300 new retail customer accounts were opened at the Bank of Cyprus with new customer information forms reaching 12,300.

The number of transactions at the same time had exceeded 1.7m during a period with normally low traffic due to the summer holidays.

CNA said the flow of new customers and reactivation of old ones reached 8,000 during July.

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Source: Cyprus News Agency