It has no banking operations in Russia or Ukraine, following the sale of its operations in Ukraine in 2014 and Russia in 2015, the Bank of Cyprus Group said on Thursday, while stating that it expects "limited impact from its immediate exposure",
"Any indirect impact will depend on the duration and intensity of the crisis (in Ukraine) and its impact on the Cypriot economy, which remain uncertain at this stage," the Bank of Cyprus Group said in a statement issued via the Cyprus Stock Exchange.
"Although direct exposure to Russia, Ukraine and Belarus is limited, the crisis in Ukraine may have a negative impact on the Cypriot economy,
(CNA)
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