The community of Frenaros in the Famagusta district has called on the government for assistance after being informed the Bank of Cyprus will close down its branch in the village, forcing some 5,000 residents to go to neighbouring communities to do their banking.
The decision, according to community leader Michalis Hadjiyiorkas will create conditions of “economic and social collapse,” as after the closing down of Laiki, Hellenic and the Co-op branches, the BoC branch had been the only one left to serve the community.
Hadjiyiorkas said that the BoC branch not only serves the 5,000 residents but also the businesses of the Frenaros industrial area and the nearby community of Aheritou.
“This decision of the lender makes the life of the area residents more difficult,” he told the Cyprus News Agency.
The residents of Frenaros, he said, will now be forced to go to Dherynia or Avgorou to pay utility bills, get their pension money, or for their business transactions.
He added that the bank branches of those two communities have already undertaken the task of also serving Liopetri and Xylofagou residents.
According to the leader of the community, the elderly are the ones most affected by the closure of the branch. But local businesses and shops too, will experience many problems, he said, as they will not be able to be served promptly.
Hadjiyiorkas called on the government to stand by Frenaros and its neighbouring communities that were left without a bank and give a “helping hand” as local residents’ everyday lives are being negatively affected by this.