The Hellenic Bank has issued a press release stressing that it remains unaffected by the changes to the Swiss franc and the recent decision by the Swiss National Bank to no longer cap the franc’s value against the euro.
"In response to a request by the Cyprus Securities and Exchange Commission to all credit institutions, Hellenic Bank has announced that the changes to the franc/euro exchange rate are not expected to substantially affect the Group’s financial standing and operating results" the press release of this Cypriot bank says.
It notes that thanks to systematic risk hedging and to the effective mechanisms applied; the Bank is not exposed to such foreign exchange risks.
Source: CNA
