The dismantling of Cyprus Popular Bank marks the end of a troubled investment for Dubai Group, the holding company that was once its largest shareholder.
Cyprus Popular Bank's branches will reopen today under the control of Bank of Cyprus, which will also take ownership of its domestic deposits.
Cyprus Popular Bank - which trades under the brand name Laiki Bank, and was previously known as Marfin Popular Bank, has had its share price collapse since 2007, when Dubai Group valued its stake at €1.425bn (Dh6.7bn).
Read more: http://www.thenational.ae/thenationalconversation/industry-insights/finance/cyprus-bank-failure-marks-end-of-dubai-investment#ixzz2PIKpyEgY
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