Albank

tintin · Post by **tintin** » Fri 21 Jul 2017 1:00 pm

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.

Panchocat · Post by **Panchocat** » Sat 22 Jul 2017 7:27 am

I believe they are the bank that have bought HSBC in Cyprus. An announcement is expected shortly, September has been quoted.

ozankoys · Post by **ozankoys** » Sat 22 Jul 2017 8:19 am

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.

Johnny Lee · Post by **Johnny Lee** » Sat 22 Jul 2017 9:38 am

Good Point about attracting funds. They are offering 15 per cent. on a million TL locked for 12 months.

ozankoys · Post by **ozankoys** » Sat 22 Jul 2017 11:52 am

Now if only I had a million TL............

Johnny Lee · Post by **Johnny Lee** » Sat 22 Jul 2017 1:20 pm

150 K for 12 months before tax. Not bad.

karmels · Post by **karmels** » Sat 22 Jul 2017 3:25 pm

I had once, before they took the zeros off.

Keithcaley · Post by **Keithcaley** » Sat 22 Jul 2017 7:15 pm

I wonder if it's legal to form a 'consortium'...

... probably not, knowing this place...

ozankoys · Post by **ozankoys** » Sat 22 Jul 2017 7:44 pm

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!

Bert · Post by **Bert** » Sun 23 Jul 2017 8:13 am

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 ?

ozankoys · Post by **ozankoys** » Sun 23 Jul 2017 8:20 am

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?

Johnny Lee · Post by **Johnny Lee** » Sun 23 Jul 2017 11:21 am

I believe Alpet are also involved , hence the name.

davedee · Post by **davedee** » Mon 24 Jul 2017 5:56 am

Not heard Alpet ,Altinbas which is owned by Creditwest.

sophie · Post by **sophie** » Mon 24 Jul 2017 7:37 am

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

Holly · Post by **Holly** » Mon 24 Jul 2017 12:17 pm

Johnny Lee

You mention 150K before tax, do you or anyone on the forum know of a way to avoid paying said tax----legally ?

Keithcaley · Post by **Keithcaley** » Mon 24 Jul 2017 12:20 pm

I don't - it's deducted 'at source' by the bank!

ozankoys · Post by **ozankoys** » Mon 24 Jul 2017 1:53 pm

The current rate is 10%

Albank

Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Re: Albank

Kibkom North Cyprus Forum

Kibkom North Cyprus Forum

Join us