Cyprus Mail

Retired Lymbia residents protest local co-op closure

Around 30 mostly retired residents of the village of Lymbia in the Nicosia district protested on Wednesday outside Hellenic Bank HQ over the decision to close a branch that belonged to the former co-op bank in their community.

It followed another protest last Saturday outside the branch at Lymbia.

The protesters wielded placards saying “Don’t make our life an ordeal” and “28 illiterate people founded the co-op bank in 1928, while in 2018, educated people dissolved it.”

Lymbia residents are up in arms over the lender’s decision to shutter a branch in their village, which they say serves some 3,000 people.

The branch belonged to the co-op bank and was taken by Hellenic as part of a deal for the acquisition of certain assets and liabilities.

The Lymbia branch was among 100 slated to close by the co-op bank itself but it never happened most probably because of populist reasons as is often the case in Cyprus.

Hellenic argues that Lymbia residents can do their banking at nearby Dhali. If it had a branch per 3,000 people it would mean some 267 branches in a country, which already has an excessive number, it says.

Two other communities, Meneou and Xylophagou have also protested the closures of branches in their communities.

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