Bank of Cyprus suspends operations in Romania

Associated Press, Romania | World | Mon, April 01 2013, 8:35 PM

The Bank of Cyprus in Romania says it is suspending its operations in the country for a week and plans to sell the bank.

Bank spokeswoman Liana Voinescu told the Associated Press Monday that the suspension takes effect immediately in its 10 branches around the country. She said ATM machines would remain open, with customers able to withdraw a daily maximum of 4,000 lei (910 euros).

Bank of Cyprus also has branches in Russia, Britain and Ukraine, which remain open. Its Greek operations, and those of Cypriot lenders Laiki and Hellenic, were bought by Greece's Piraeus Bank last week.

Under Cyprus's bailout deal and bank restructuring, foreign operations of Bank of Cyprus and Laiki will be closed to help shrink the Cypriot banking sector.