Hourican tells shareholders Bank of Cyprus still at war with circumstance (Update)

By Stelios Orphanides

Bank of Cyprus’s chief executive officer John Hourican said the lender is “at war with circumstance,” as its ratio of non-performing loans remains “still unacceptable” even after it stabilised.
While addressing shareholders at a meeting in Nicosia today, the Bank of Cyprus CEO said that the lender, which uncovered plans to have its shares listed at the Cyprus Stock Exchange and Athens Exchange by the end of the year, “will continue to delicate extraordinary effort to tackling the very high level of arrears and non-performing loans.
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The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.