Bounced cheques, Kil­iaris re­turns to Louis

Financial Mirror (Cyprus) - - FRONT PAGE -

Bounced cheques to­taled 250,000 worth CYP 25 mln in 1994 and in the first two months of the year the value reached CYP 443,000, while two weeks af­ter his res­ig­na­tion from the Trade Min­istry, Ste­lios Kil­iaris has re­turned to the Louis Group ac­cord­ing to the is­sue 112, on May 24, 1995.

Bounced cheques:

De­spite the ef­forts of the po­lice, banks and busi­ness as­so­ci­a­tions, 250,000 cheques worth CYP 25 mln bounced last year, with the prob­lem in­creas­ing. One ma­jor bank sent back 175,000 cheques be­cause they were is­sued with no col­lat­eral, rais­ing the to­tal of re­turned cheques to 420,000.

Kil­iaris at Louis:

Tow weeks af­ter quit­ting the cabi­net, for­mer Com­merce and In­dus­try Min­is­ter Ste­lios Kil­iaris has re­turned to the Louis Or­gan­i­sa­tion as Group Gen­eral Manager, the same post he held prior to his public ap­point­ment, while he has also been ap­pointed vice pres­i­dent of the board of IMC.



Lom­bard leads:


French joint ven­ture Aero­port De Paris (ADP) and Sof­reavia se­cured a CYP 992,000 con­tract to draft con­struc­tion plans fro a new in­ter­na­tional air­port in Paphos. The new pas­sen­ger ter­mi­nal must ac­com­mo­date 1.7 mln trav­el­ers, ris­ing to 2.8 mln.

Lom­bard Natwest Bank said it was the most suc­cess­ful of for­eign banks in Cyprus, with net op­er­at­ing prof­its ris­ing from CYP 594,000 to 1 mln, loans ris­ing from CYP 75 mln to 98 mln, and de­posits up 23% from CYP 118 mln to 145 mln.

Oh, and Hel­lenic Bank was ad­ver­tis­ing it­self as “A mod­ern Cypriot Bank”…

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