The Central Bank of Cyprus (“CBC”) has taken the decision to proceed with the revocation of the licence granted to Promsvyazbank PJSC to operate a branch in Cyprus (“the branch”). The licence of the branch is revoked as from 31 July 2019 and the relevant entry in the “Register of Credit Institutions operating in Cyprus” is simultaneously deleted.
The CBC took the above decision for the revocation of the licence οf the Branch under the provisions of Section 4Α(1)(a) of the Business of Credit Institutions Law 66(I) 1997 as subsequently amended (“the law”) after the surrender of the licence by Promsvyazbank PJSC pursuant to the provisions of Section 4(6) of the law.
In case where a person wishes to obtain any clarifications regarding the operations of the branch, the contact details are available at the following link: