ECONOMY

EBRD eyeing fresh deals in Cyprus banking sector

The European Bank for Reconstruction and Development is already eyeing fresh deals in Cyprus’s banking sector and is planning to install at least one independent director on the board of its first investment in the country, Bank of Cyprus.

Speaking at a Reuters summit, Lucyna Stanczak-Wuczynska, who took up the post of regional director of financial institutions at the EBRD earlier this month, hinted the bank was closing in on a second deal just over a month after sealing its first.

[Reuters]