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Russian Bankers To Take Massive Loss In Sale Of Cyprus Bank Subsidiary
nby Monica Davis
The banksters in Cyprus are still stinking up the global banking world. While individual Cypriots are still raging about the “haircut” they took when the international banksters snatched part of their banking accounts as a way to pay for the international bank bail out, now there’s another problem.
National regulators want to investigate the details of a bank acquisition. Cypriot banking officials are investigating the details of how and why a Cypriot bank purchased Uniastrum bank in Russia.
According to banking reports, “ Uniastrum bank which is headquartered in Moscow. Eighty percent (80%) is owned by the Bank of Cyprus.” Banking officials in Russia are watching closely, ready to step in if the Russian subsidiary starts funneling money to bail out its Cypriot parent.
Russia’s Central Bank is closely watching the activities in Uniastrum Bank, a Russian subsidiary of the Bank of Cyprus and is ready to impose sanctions on transactions, if it starts sending funds to its Cypriot parent. morehere
Russian investors stand to lose their shirts. Analysts believed they would get half of their investment should the bank be sold.
