Marfin Popular Bank
From Wikipedia, the free encyclopedia
| Marfin-Egnatia Popular Bank Public Co. Ltd Μαρφίν-Εγνατία Λαϊκή Τράπεζα |
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| Type | Public |
| Founded | 1901 |
| Headquarters | Nicosia, Cyprus |
| Area served | Cyprus, Greece, UK, Serbia, Australia |
| Key people | Neoklis Lysandrou (Chairman of the Board of Directors) |
| Industry | Financial services |
| Products | Banking |
| Operating income | €1.2 billion (2006)[1] |
| Net income | €396 million (2006) |
| Website | http://www.Laiki.com/ |
Marfin Popular Bank (CSE: CPB ATHEX: MARFB ), formerly Cyprus Popular Bank (a.k.a. Laiki Bank), is the second largest bank on the island of Cyprus behind the Bank of Cyprus. Currently it holds a 14.98% share of the market in loans and a 19.2% share of deposits. Its shares are listed on the Cyprus Stock Exchange and the Athens Stock Exchange.
In 2006 the Greek company Marfin Financial Group acquired the Cyprus Popular Bank (Laiki Bank), which it [rebranding|re-branded]] as Marfin Popular Bank[2].
In 2007, the bank announced a multi-million financial deal to sponsor the Cyprus first division until 2010. [3]
[edit] Inernational Presence
- Australia
[edit] History
- 1901 Four leading citizens of Limassol — Agathoclis Francoudis, loannis Kyriakides, Christodoulos Sozos and Neoklis loannides — established the Popular Savings Bank of Limassol to encourage saving among the workforce.
- 1924 The Popular Savings Bank of Limassol became the Popular Bank of Limassol and was the first company in Cyprus to register as a public-traded company.
- 1967 The Popular Bank of Limassol changed its name to Cyprus Popular Bank (CPB) to reflect the bank’s expansion beyond Limassol.
- 1968 CPB established its first Nicosia branch.
- 1969 CPB established its first Famagusta branch.
- 1970 CPB established its first branches in Paphos and Larnaca. Hongkong and Shanghai Bank (HSBC) became a major shareholder. (In 2001, HSBC owned 22% of the share capital.)
- 1971 CPB moved its head office from Limassol to Nicosia.
- 1974 CPB established its first London branch.
- 1983 CPB acquired all the Cyprus operations of Grindlays Bank located in the area under government control.
- 1992 CPB opened the first branch of European Popular Bank in Athens. CPB owned 58% of the shares of the bank; other shareholders included HSBC (6%) and Greek and Cypriot investors. CPB retained branches in Heraklion and Thessaloniki.
- 1995 CPB opened its first representative offices in South Africa and in Toronto, Canada.
- 1996 CPB opened its first representative offices in Australia.
- 1997 CPB opened its first representative offices in Yugoslavia and in Russia.
- 1998 CPB establishes a representative office in New York. (NY State Banking Dept says State chartered).
- 2000 The Popular Bank Group changed its name to “Laiki Group”.
- 2001 The Laiki Group established a subsidiary in Australia with five branches.
- 2005 The Group established Laiki Bank (Guernsey), and purchased Bank Centrobank in Serbia.
- 2006 The Greek Marfin Financial Group acquired the Cyprus Popular Bank (Laiki Bank), including HSBC's shares. In Greece, the Marfin Group consolidated Egnatia, Laiki and Marfin to form Marfin Egnatia Bank, which is the 95%-owned Greek subsidiary of Marfin Popular Bank.
- 2007 The bank announced the planned takeover of 50.12% of the share capital of AS SBM Pank, a bank in Estonia.[4]
[edit] References
- ^ "Cyprus' Marfin Popular Bank Reports 235 Percent Profit Increase in 2006", Associated Press, Yahoo! Finance, Thursday February 8, 2007. Retrieved on 2007-02-08.
- ^ A new era in Cyprus corporate history-(Cyprus Mail archive article - Thursday, September 21, 2006) [1]
- ^ "New Cypriot sponsor deal aims to fight problems", Reuters, Fri Jun 15, 2007. Retrieved on 2007-06-16.
- ^ "Marfin Popular Bank acquires bank in Estonia", Financial Mirror, 14/06/2007. Retrieved on 2007-06-16.
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