This was despite the bank holiday in Greece and the capital controls that were put in place there, and which triggered fears of ‘Grexit’ – the exit of Greece from the eurozone.

In statements to the Cyprus News Agency, Spokeswoman of the Central Bank of Cyprus Aliki Stylianou said, “The subsidiaries of Greek banks operating in Cyprus are Cypriot banks, have sufficient capital, high liquidity and are therefore operating properly and are not affected by developments in Greece”.

She added that Greek subsidiaries are facing no limitations.
Cyprus has four subsidiaries of Greek banks in Cyprus: Alpha Bank, Piraeus Bank, Eurobank and National Bank of Greece.

As subsidiaries any liquidity needs could be met by the Cypriot authorities.

Earlier this month, Finance Minister Harris Georgiades said on state radio, the Greek subsidiary banks are essentially “Cypriot banks with own capital, sufficient liquidity and no exposure in Greece.”

All remaining capital controls in Cyprus were lifted in April 2015.

Source: InCyprus