ECONOMY

Cars torched outside Cyprus banker’s home

NICOSIA – Arsonists torched two cars early on Tuesday outside the home of the head of Bank of Cyprus, who has overseen a major restructuring of the island’s largest lender, police said.

John Patrick Hourican – a former Royal Bank of Scotland senior executive who joined BoC in October 2013 – was out of the country on business at the time of the arson attack.

A bank service vehicle was completely destroyed, while the car parked next to it outside Hourican’s home in the Nicosia suburb of Strovolos suffered extensive fire damage, police said.

Nicosia police chief Demetris Demetriou stated: “It seems that the specific vehicle was used by the driver and the family of Mr Hourican for whenever they come to Cyprus.”

Police said they were still investigating the motive but are treating it as “malicious.”

[AFP]