Panayiotis Rougalas
The two major banks in Cyprus, Bank of Cyprus and Hellenic Bank, are moving forward with agreements made with President Christodoulides.
During a meeting with the President, the CEOs of the two banks, Mr. Michalis Louis and Mr. Panicos Nicolaou, agreed to install ATMs in remote areas and locations where access to cash machines is limited, particularly to better serve older customers.
According to the current list in the hands of both banks, which will jointly install JCC Payments ATMs (as both banks are shareholders in JCC), a total of 11 machines will be placed.
The list was shared during a press conference held by Hellenic Bank’s management on Wednesday. However, it was noted that the locations are indicative and that the process is still ongoing, described in English as a "work in progress." Some of these locations may ultimately be changed.
Hellenic Bank’s management also stated that maintaining an ATM in a remote area costs a bank approximately €50,000 annually, not including the one-off purchase cost of the machine itself.
The 11 locations for the new ATMs (subject to change):
- Frenaros
- Pelendri
- Pissouri
- Salamiou
- Astromeritis (possibly inside a supermarket)
- Avgorou
- Eptagonia
- Lythrodontas
- Parekklisia
- Argaka
- Xylotymbou
This article was translated from its Greek original.
