Following the recent developments relating to the Swiss franc the Bank of Cyprus Public Company Ltd announced that this development had no material impact on the Bank's financial position.
In a press release, the Bank notes that as part of its overall conservative risk management strategy and appetite, the Bank has a policy of hedging foreign exchange risk.
"Hence, the recent appreciation of the CHF against the Euro had no material impact on the Bank’s financial position", it stresses.
Source: CNA
