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Albank
Posted: Fri 21 Jul 2017 1:00 pm
by tintin
Has anyone used Albank - the new bank next to army barracks on the way to Girne and have they any feedback? We went there today and were quite impressed.
Re: Albank
Posted: Sat 22 Jul 2017 7:27 am
by Panchocat
I believe they are the bank that have bought HSBC in Cyprus. An announcement is expected shortly, September has been quoted.
Re: Albank
Posted: Sat 22 Jul 2017 8:19 am
by ozankoys
They are a purely Cypriot bank so probably only have to comply with TRNC banking laws.
Probably they are paying a large sum to take over HSBC so will need to attract funds with high interest rates - just a guess on my part.
Re: Albank
Posted: Sat 22 Jul 2017 9:38 am
by Johnny Lee
Good Point about attracting funds. They are offering 15 per cent. on a million TL locked for 12 months.
Re: Albank
Posted: Sat 22 Jul 2017 11:52 am
by ozankoys
Now if only I had a million TL............
Re: Albank
Posted: Sat 22 Jul 2017 1:20 pm
by Johnny Lee
150 K for 12 months before tax. Not bad.
Re: Albank
Posted: Sat 22 Jul 2017 3:25 pm
by karmels
I had once, before they took the zeros off.
Re: Albank
Posted: Sat 22 Jul 2017 7:15 pm
by Keithcaley
I wonder if it's legal to form a 'consortium'...
... probably not, knowing this place...
Re: Albank
Posted: Sat 22 Jul 2017 7:44 pm
by ozankoys
Aha but will the million TL be there when you want to withdraw it??
If an interest rate is 'too good to be true' then it probably is!
Re: Albank
Posted: Sun 23 Jul 2017 8:13 am
by Bert
Isn't the owner related to Credit west owner??? Or have I got the wrong bank!! I heard that the bank likely to take over the HSBC is the brother of the Credit West owner. And therefore by default will be a direct competitor. Not sure if it's the one and same bank however ! Any one else heard this ?
Re: Albank
Posted: Sun 23 Jul 2017 8:20 am
by ozankoys
Yes apparently he is the brother of CreditWest owner would be interesting to know what criteria there are for setting up a bank here & how he has the funds not only to set up a bank but also buy HSBC perhaps he has a loan from CW?
Re: Albank
Posted: Sun 23 Jul 2017 11:21 am
by Johnny Lee
I believe Alpet are also involved , hence the name.
Re: Albank
Posted: Mon 24 Jul 2017 5:56 am
by davedee
Not heard Alpet ,Altinbas which is owned by Creditwest.
Re: Albank
Posted: Mon 24 Jul 2017 7:37 am
by sophie
If you Google Altinbas Holdings and Altinbas Group, you see it is an enormous company funded initially on jewellery by Mehmet Altinbas in 1950.
Altinbas Jewelry
Credit West ** See Exim Bank in Turkey
Alpet Petroleum and Oils
Altinbas Sigorta
Credit West also have at least one branch in Ukraine which might explain some of the Ukrainian employees here in the TRNC and I think they may have other Jewelry outlets under another name starting with an A
Re: Albank
Posted: Mon 24 Jul 2017 12:17 pm
by Holly
Johnny Lee
You mention 150K before tax, do you or anyone on the forum know of a way to avoid paying said tax----legally ?
Re: Albank
Posted: Mon 24 Jul 2017 12:20 pm
by Keithcaley
I don't - it's deducted 'at source' by the bank!
Re: Albank
Posted: Mon 24 Jul 2017 1:53 pm
by ozankoys
The current rate is 10%