The Commission for the Protection of Competition proceeded on Thursday to new on-the-spot investigations to all banks that are actively involved in the currency market. On Wednesday, the Committee proceeded to an ex-officio investigation to Bank of Cyprus, Popular Bank and Hellenic Bank to ascertain whether there is a case of impediment of competition at the expense of the consumers and the healthy competitive environment.

According to StockWatch sources, the investigations are based on certain information that the Committee has on its disposal. The CPC wishes to ascertain whether the Currency Market is blocked or controlled and the commission that the banks secure from the sale or purchase of currency.

Airports

The CPC will also investigate whether the banks in the Currency Market cooperate as far as the airport branches are concerned.

It is worth noting that the Committee will continue its investigations on Friday.