CSE automation, KEAN tops sales
The CSE is to proceed with an automation drive that will eliminate transaction risks for investors, while KEAN claimed to be the leader in juice sales and planned an IPO, according to the Financial Mirror issue 181, on October 2, 1996.
The Cyprus Stock Exchange is rapidly proceeding with the implementation of an automated online system that will eliminate the need for the issue of share title certificates as the Materialisation Law comes into effect in March 1997.
Soft drink giant KEAN said it was in first place, as far as juice drink sales are concerned, with exports reaching CYP 3 mln and the company considering an IPO “when the conditions are ripe.”.
Total deposits with the commercial banks, financial institutions and the Co-
operative Credit Societies showed a small increase of 1% and reached CYP 7.3 bln in July. About 90% were time deposits mostly placed for 7 days to 3 months, and then for 6 to 13 months.
Customer deposits at offshore banks also showed a small increase in July, rising from $1.3 bln to 1.35 bln, while the balance sheet footings of the Offshore Banking Units (OBUs) rising sharply from $2.8 bln to 3.08 bln.
OBU deposits rise: