Latest Headlines

HSBC Taken Over by Albank

30 November 2017


The Central Bank’s Board of Directors decided to transfer the North Cyprus branches of HSBC Bank A.Ş. to Albank Ltd.

According to a decision taken at the November 2 meeting of the Central Bank’s Board of Directors published in the Official Gazette dated November 27, the transfer of Albank Ltd was approved to be transferred in accordance with Article 40 of the Banking Law with all assets and liabilities of branches of HSBC Bank.

HSBC Bank’s banking license was cancelled and transferred to Albank Ltd.

Kibris News Agency