CSE au­to­ma­tion, KEAN tops sales

Financial Mirror (Cyprus) - - FRONT PAGE -

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-

CSE

reforms:

KEAN leads:

De­posits

steady:

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:

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