Bank of Cyprus bondholders protesting outside the meeting to elect a new board became violent on Thursday shortly after the meeting started, throwing stones and other objects at the building.
A number of them barged in through the back door of the BoC’s headquarters shouting and chanting until they were removed by police.
Inside, Bank of Cyprus chief executive officer John Hourican said the lender while it remains ‘at war with circumstance’ has made good progress in ‘shrink to strength strategy’ after selling operations abroad.
Hourican who was addressing shareholders at the meeting in Nicosia today, said that the lender, which uncovered plans to have its shares listed at the Cyprus stock exchange and Athens exchange ‘will continue to delegate extraordinary efforts to tackling the very high level of arrears and non-performing loans’.
Cyprus Mail