Cyprus Popular Bank Public Co Ltd announces that its Board of Directors in a meeting held yesterday concluded its review of the Revised Restructuring Plan of the Group and approved its submission to the Central Bank of Cyprus.  The revised submission forms part the Bank's obligations under European Union rules on state support.

The views and comments of the Supervisory Authority and the Ministry of Finance were taken into account in the Revised Plan, thus creating a realistic and at the same time comprehensive Group restructuring plan.  

It is noted that the implementation of the Restructuring Plan, which commenced on an operational level in August 2012, is already contributing to the further enhancement of the efficiency and competitiveness of the Bank and with the Bank's anticipated full recapitalisation, is expected to create conditions for a new era of growth for Laiki Bank Group, that would benefit both the Cyprus Economy and Cyprus as a whole.