Bank of Cyprus, Hellenic say no material impact from Swiss franc move

Hellenic Bank Pcl

20/01/2015 16:44

NICOSIA, Jan 20 (Reuters) - Cypriot banks Bank of Cyprus 
 BOC.CY  and Hellenic Bank  HBNK.CY  said on Tuesday they had no 
material impact from the Swiss National Bank's decision to scrap 
its cap on the Swiss franc against the euro. 
    Bank of Cyprus, the country's largest lender, said its 
lending exposure in Swiss francs totalled 1.09 billion euros on 
Dec, 31, representing 4.6 percent of total gross loans. 
    "As part of its credit risk management policy, the Bank 
monitors the performance of the portfolio and, if needed, will 
take additional provisions in line with its provisioning 
policy," Bank of Cyprus said. 
    Hellenic Bank said the change was not expected to 
substantially affect the Group's financial standing and 
operating results.   
     
 
 (Reporting By Michele Kambas. Editing by Jane Merriman) 
 ((michele.kambas@thomsonreuters.com;)) 
 
Keywords: CYPRUS BANKS/SWISS