OREANDA-NEWS. May 30, 2008. The main theme of meeting was the completion of procedure of acquisition of JS “AvtoZAZbank” by the Bank of Cyprus in a result of receipt of all necessary permissions from supervisory organs on Cyprus and in Ukraine, reported the press-centre of AvtoZAZbank.

The bank of Cyprus purchased 97,2% shares of JS “AvtoZAZbank”, having paid a 57,9 million EURO for it.

 On general shareholders' meeting of bank The Chairman of Board of JS “AvtoZAZbank”, Vladislav Bairaka developing an idea about advantages of future compatible collaboration, said: ”Specifically this agreement will give possibility for further development of bank, and also will bring investitions to the country, which will be instrumental in the increase of workplaces not only in a bank sphere, but on the whole in a wide financial-economic sphere”.

 During the meeting the Chief executive director of Group of Bank of Cyprus Andreas Eliades concerning the prospects of development of Group of Bank of Cyprus in Ukraine decleard: “We are sure, that widening of our activity in Ukraine through the JS “AvtoZAZbank” will make significant contribution in achievement of our purpose – to become one of the most financial institutions in South-East Europe”.