(Google translate)
The increase in interest rates for deposits at the ECB has, as is known, shot up bank profits. According to results published four times a year, all banks report profits.
These windfalls, and probably non-recurring, involving billions of euros between the Banks, should be funneled, if not all, at least most of them into a fund, which should be used to compensate the depositors who were essentially robbed both Marfin, formerly Laiki, but also the Bank of Cyprus.
And yet nothing of the sort happened. An effort is simply being made to do something, not from the banks’ side, but from the state’s side with the establishment of the Solidarity Fund, which has 150 million euros to date and as it is said will begin to give a certain amount to the thousands of bereaved and lost security holders.
This audacity of the Banks to brag about the hundreds of millions of profits that each one announces, without taking into account those who stole, is unprecedented. Especially from the BANK OF CYPRUS, and its CEO, Panikos Nikolaou, who with the audacity of a thousand monkeys made press statements, “let’s not demonize banks’ profits”. Right, Mr. Panic, but give it back to those you stole from, not you and your fellow CEOs eat it with your new shareholders!!!
But apart from interest rates, from which banks benefit huge profits, there are other methods applied by banking institutions that bring them further profits. One of them is the delay in clearing checks deposited by citizens. Banks need LENE, four working days to process this task, which can be completed in a few seconds. Therefore, instead of the banks proceeding with an immediate settlement, they proceed to deposit the hundreds of millions daily with the European Central Bank (ECB), as a result of which they reap an additional profit of 4% from the four-day interest rate they receive from the ECB.
The only bank that within a maximum of an hour can clarify and give the money to its customers is REVOLUT for this and it receives war from the commercial banks.
With regard to AKEL’s suggestion that banks pay tax from their profits, it is not considered correct, since it is a proposal that will essentially be like the government stealing from the banks’ loot at the expense of the citizens.
It would be more correct if, instead of a tax, the Bank of Cyprus should proceed with a 10- or 15-year plan to slowly give the money of the people who were cut off – who were cut 50% -, with the aim of whether it is possible to pay back the 50% they took in out of depositors’ pockets, rather than being eaten by the same managers who were there when they destroyed the banks.
They stole depositors’ money then, and now they are stealing a little from everyone by staking the people’s money without giving anything back in the form of interest, and they think it will stop there.
From this website we will bombard them daily until either they or the state takes a position.
THIS ISSUE ALSO CONCERNS THE MINISTRY OF FINANCE BUT MAYBE ALSO THE MINISTRY OF JUSTICE FOR THE INJURED ENRICHMENT OF THE BANKS AT THE BURDEN OF THE ECONOMY!
