Almost 9 months and the FBME Bank disaster still goes on. It is unbelievable and many bank customers are left in the dark. No or at least minimal responses come from the customer service agents. It’s not their fault, but bizarre it is!
What surprises, is that FBME Bank customers are so relatively quiet. Most outsiders would scream, panic and even start occupy alike camps in front of the banks locations in Nicosia, Limasol and Dar es Salaam. A strange situation, never happened before.
To get a better understanding of the underlying problem, the article The Downfall of FBME Bank was published recently. In the article, which is more a detailed study on the malfunctioning of all stakeholders involved, you will find the reasons why FBME Bank is doomed to loose their fight.
It’s not a matter if the banks stops to exist in its current operational way but when. Over 200 employees are going to loose their job when the bank stops. That is an angle the governments, the bank itself and the unions are willing to work for. It looks like customers are less important and stay loyal to the end, according to the bank’s management. Everywhere is someone else to blame for the disaster.