Cypri­al­ife launched, bank prof­its up

Financial Mirror (Cyprus) - - FRONT PAGE -

The Pop­u­lar Bank launched its new life in­sur­ance sub­sidiary, Cypri­al­ife, while all three ma­jor banks re­ported a strong rise in first half prof­its, ac­cord­ing to the Cyprus Fi­nan­cial Mir­ror is­sue 130, on Oc­to­ber 4, 1995.

Cypri­al­ife ar­rives:

Laiki Pop­u­lar Bank launched its life in­sur­ance sub­sidiary, Cypri­al­ife, with Man­ag­ing Di­rec­tor An­dreas Aloneftis tar­get­ing a 20% mar­ket share in the next 3-4 years, by when the com­pany would also break even, ac­cord­ing to Group Chair­man Kikis Lazarides.




All three pub­licly traded banks re­ported strong profit rises in the first six months of the year, with Hel­lenic en­joy­ing the big­gest rise in op­er­at­ing prof­its (+24.1%), Pop­u­lar Laiki the high­est prof­its (CYP 16.08 mln) and Bank of Cyprus the big­gest rise in pre- and af­ter tax prof­its (+17.4%).

The KEVE gen­eral in­dex fell 0.45 points on profit tak­ing with selling pres­sure ris­ing as buy­ers re­mained on the side­lines. .

A new ab­duc­tion of a Cyprus-flag ship by pi­rates off the coast of Viet­nam brought the to­tal to six this year, but all crew were re­leased and ne­go­ti­a­tions were not nec­es­sary.


Ships ab­ducted:

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