Bank of Cyprus Public Company Limited is reportedly seeking to sell its Commonwealth of Independent States (CIS) assets. The assets also include Uniastrum Bank LLC and Public Joint Stock Company Bank of Cyprus, sources added. Vladislav Bairaka, Former Chairman of the Management Board of the Bank of Cyprus (Ukraine) also confirmed the asset sale.

Also, one of Uniastrum Bank's top-managers confirmed that negotiations about the sale of 80% of Uniastrum's shares owned by the Bank of Cyprus were held late 2012. However, the negotiations were terminated as a number of issues concerning the remaining 20% of shares owned equally by Gagik Zakarian, President of Uniastrum Bank and Georgy Piskov, Chairman of the Board of Directors, he added. He said that a buyer from Russia also visited the Bank of Cyprus' headquarters in Nicosia in November 2012, but the negotiations were not successful.