Global investment fund CarVal Investors has reduced its shareholding in the Bank of Cyprus to 5.9 per cent, according to an announcement made by the bank on the Cyprus Stock Exchange (CSE).

The investment firm’s previous stake stood at 6.1 per cent, following a reduction from 9.1 per cent in October of last year.

On Monday, the Bank of Cyprus stock closed with a trading volume of 35,524 shares at €4.74, marking a decline of 0.21 per cent.