Andreas Vgenopoulos, Marfin Popular Bank Chief Executive Officer, made a briefing on the current developments of the Group during a teleconference attended by representatives of the institutional investors. Among others, he stressed the following:
- The successful completion of the three banks merger, as well as the spectacular operations development during the first months of the year, necessitates the revision of the profits projections upwards after the second and third quarter of the year. Subsequently, the projections for the three-year Business Plan shall also be accordingly reviewed.
- The Bank is not expected to undertake strategic initiatives in the near future, up to the end of the year, for substantial acquisitions and mergers.
- As to the Bank of Cyprus, the spectacular development of Marfin Popular Bank and the emerging prospects, render the Bank of Cyprus a less attractive choice. Its importance is further decreased due to the hostile position adopted by the Bank Management, supported by a large part of shareholders who seem to disapprove even the initiation of discussions. Marfin Popular Bank shall follow a flexible policy in the future as to its shareholding in the Bank of Cyprus, aiming at servicing its shareholders interests.