Cyprus Popular Bank’s loss for the year, after the added impairment of the Greek Government Bonds (PSI+), has increased by 315,5 million euro, according to the Final Financial Statements of the Group, published here on Monday.

Further to its announcement dated April 19, 2012, Cyprus Popular Bank Public Co Ltd announces that the Board of Directors, at its meeting on Monday, approved the Final Audited Financial Statements of the Group and the Bank for the year ended 31 December 2011, it is noted in the announcement on the final audited financial statements.

The Final Audited Financial Results of the Group for the year ended 31 December 2011 differ from the Preliminary Results announced on the 29th February 2012 only as a result of the finalization of the accounting treatment of the effect in the participation in the exchange programme of the Greek Government Bonds (PSI+).

The preliminary results included an amount of 1.969 million euro impairment loss for the Group’s Greek Government Bonds holding, representing 65% of their nominal value.
Following the final accounting treatment for the PSI+ programme, this amount has been increased to 2.331 million euro, representing 76,4% of their nominal value.

As a result, the loss for the year and the loss attributable to the shareholders has increased by 315,5 million euro net of tax from the previously announced Preliminary Results.