Cyprus Mail
LettersOpinion

A bank for the ‘little’ people

bank of cyprus results

The founding fathers of the Bank of Cyprus would surely be horrified at the turn of events.

“Thrift” and “savings” for little people were the Victorian watchwords in the 1890s.

At first (1894) the Imperial Ottoman Savings Banks opened special interest savings accounts for small savers in Cyprus.

Soon after the Nicosia Savings Bank was formed in 1899. This finally morphed into the Bank of Cyprus.

Now small savers have been crushed by events; the “haircut” and now the possible sale of the bank to private equity.

Private equity has a narrow viewpoint focussed on benefit and certainly not on the little people.

O tempora, o mores!

Jonathan Reddaway, Nicosia

 

Related Posts

Ukraine war: Vladimir Putin’s mobilisation order was legal – but will Russians see it as legitimate?

The Conversation

Iran protests: majority of people reject compulsory hijab and an Islamic regime, surveys find

The Conversation

Our View: Presidential candidates following long tradition of political insincerity

CM: Our View

Tales from the coffeeshop: 62 years of facing down threats paraded before us

Patroclos

Our View: Does everyone have to have a say in the running of Gesy?

CM: Our View

Our View: VIP prisoners, a utopian central prison – is this really the way to go?

CM: Our View