CYPRUS POPULAR BANK PUBLIC CO LTD
Completion of the agreement for the partnership of Marfin Popular Bank and CNP Assurances
Further to its announcement dated 19/12/2008 regarding the completion of the agreement for the partnership with CNP Assurances and a relevant inquiry from the Hellenic Capital Market Commission, Marfin Popular Bank Public Co Ltd (MPB) announces that, as it has already been stated in its relevant announcement dated 22/07/2008, CNP paid the amount of ?145 m for the acquisition of the 50,1% of Marfin Insurance Holdings Ltd, the insurance arm of the MPB Group. It is noted that MPB received during 2008, in accordance with the above agreement, interim dividends totalling euro 20 m. In accordance with the above, the agreement is expected to bring to MPB extraordinary pre-tax profits of about euro 50 m - euro 60 m, the exact amount of which will depend on the net asset value of Marfin Insurance Holdings Ltd as at 31/12/2008 and will be finalised with the completion of the financial statements of MPB on the same date.