Continental Bank in the trnc

trooper


Joined: 04/07/2009
Posts: 211

Message Posted:
30/12/2010 10:05

According to the BRS Continental Bank here in the TRNC has declared itself bankrupt. Investors have up to twomonths to withdraw their money due to a government guarantee.

Tompepper


Joined: 28/12/2010
Posts: 38

Message Posted:
30/12/2010 10:14

have you a link to it please ?

matula


Joined: 07/07/2008
Posts: 647

Message Posted:
30/12/2010 10:15

Pity it's not Akfinans Bank!

Castlemilk


Joined: 12/03/2009
Posts: 174

Message Posted:
30/12/2010 10:35

Any more info out there ref. this.

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
30/12/2010 11:02

Having worked and still am working For Kibris Continenetal Bank for nearly 2 years everyone who still banks with us is aware that the bank was taken over by the Central Bank over a year ago.

There are no talks of closure via the Central Bank and as everyone is ware all monies are guaranteed by the Central Bank. If any bank in the TRNC went bankrupt then there is the gurantee for all monies to be paid out ıf anyone has the number for the BRS it would be appreciated that you would pass it onto me as l have passed on this e-mail to our head office and the Central Bank who will be dealing with these rumours accordingly.





If anyone has any questions please come in and see me or call me on 815 9375 Tyra.

Tompepper


Joined: 28/12/2010
Posts: 38

Message Posted:
30/12/2010 11:06

Tyra are you the very beautiful lady worked at the k aloo branch of Continenetal Bank ?

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
30/12/2010 11:08

yes l did work at the k/oğlu branch

mamachina


Joined: 22/11/2008
Posts: 730

Message Posted:
30/12/2010 11:15

I have just looked in the BRS web site under Money matters, and can see nothing about any bank going bankrupt. The BRS does not usually put things about bankruptcy on its pages. I will check further.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
30/12/2010 11:24

This has been on the cards for quite some time... it should not be taken as indicating anything about the financial state of any other banks.

trooper


Joined: 04/07/2009
Posts: 211

Message Posted:
30/12/2010 17:29

The information came to me via a routine BRS Newsletter emailed earier today.

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
30/12/2010 17:48

The Central Bank’s website still has the Continental Bank as operational but as previously stated acting under “savings deposit insurance fund” in other words controlled by the government. It may be the web site is out of date but it does reflect what Tyra is saying.



Whatever the case is the funds on deposit are guaranteed by the government (or so it would seem).

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
30/12/2010 17:49

Sorry the link for the last post http://www.kktcmb.trnc.net/ser/english/index_englishz.htm

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
30/12/2010 18:28

msg 10 Trooper wrote:

"The information came to me via a routine BRS Newsletter emailed earier today"

Can you give us the exact wording please?



msg 5 Girne,

I agree with you, it is under the control of the Central Bank and I think they are looking for a buyer for this bank together with another bank.

ismet

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
30/12/2010 19:16

Me thinks this is the last you hear of this, as I feel sure that an organisation with such regard as the BRS would not issue such scaremongering about having to withdraw your money within 2 months.

Michael

trooper


Joined: 04/07/2009
Posts: 211

Message Posted:
30/12/2010 20:36

re msg e 13; can't give you the exact word for word, but essentially it says;

heard that there were problems, so went to a branch of the bank where a n employee confirmed the bank is bankrupt.



This was sent out by Trevor Hughes of the BRS.

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
31/12/2010 09:28

Trooper

Your posts are very oblique and you are treading on dangerous ground, the authorities here take a dim view of anybody causing panic re banks etc.

your message 10 says

The information came to me via a routine BRS Newsletter emailed earier today,

e-mailed to whom and was it private ? was it someones personal opinion or was it on a newsletter sent to all members ??

I think everyone deserves clarification

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
31/12/2010 09:49

I too received this email from Trevor... I do hope he has not put himself in harm's way.

Swany



Joined: 01/12/2009
Posts: 255

Message Posted:
31/12/2010 12:43

I am a little confused by the fact that the exact words can’t be given (re 15). If this email has been received then surely the exact words can be given unless they are confidential then the post should have never been made in the first place.



I would imagine the exact words will give clarification and I am sure no harm is meant.



Whatever the case is the Bank is in the control of the government (via the Central Bank) and as such people’s deposits are guaranteed.



I agree with lazy days (re 10) clarification would be very welcome.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
31/12/2010 13:01

James,

I've sent you the email... you can make your own mind up.



Gavin

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
31/12/2010 13:59

It needs to be published HERE, as no doubt anyone who has a Continental Bank account and not living in the TRNC will be panicing.

Michael

mamachina


Joined: 22/11/2008
Posts: 730

Message Posted:
31/12/2010 14:04

The e mail from Trevor is one he does himself, to people he knows are BRS members in his locality, or have joined the BRS via him at Lambousa market. It has not been seen by the committee and does not go out to all members - only Lapta area as far as I am aware.

breezyboy


Joined: 14/05/2007
Posts: 1179

Message Posted:
31/12/2010 17:59

This happened months ago and nobody lost a penny. As Tyra says it was all guaranteed.

Anyone who has an account with Continental or every other bank in the central bank's scheme shouldnt panic. If they do I would suggest that they dont have any accounts in TRNC as they don't understand what it's all about. Half a percent in Barclays is their level.

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
03/01/2011 09:38

re message 13 can you please bring me in the letter posted to you by the BRS we are based opposite the Lemar Karakum

girne


Joined: 14/01/2009
Posts: 438

Message Posted:
03/01/2011 10:15

İf anyone has Trevors number please can you pass it onto me.

Or mine onto him to call me 815 4478

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
03/01/2011 12:06

Happy New Year Tyra.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/01/2011 13:20

Tyra it was not an official BRS Newsletter... I think it's best left alone.



If one of your staff is giving out incorrect info, it's not difficult to see that others may be misled.

Denny


Joined: 09/12/2010
Posts: 261

Message Posted:
03/01/2011 13:59

lazy days said: "the authorities here take a dim view of anybody causing panic re banks etc."



Last time I checked we lived in a democracy. What harm can a "dim view" cause anyone?

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
03/01/2011 14:02

"Last time I checked we lived in a democracy."



Ha ha ha...

Denny


Joined: 09/12/2010
Posts: 261

Message Posted:
03/01/2011 14:05

Yes, it was ironic. Standards of democracy and safe banking are somewhat different in TRNC.