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Bank of Cyprus, the Mediterranean island's largest lender, announced Tuesday losses of more than half a billion euros ($667 million) for the six months to June as it increased buffers for bad debt.Bank of Cyprus said it had set aside another 500 million euros for bad loans in the first half of 2017 .Under the terms of the deal, the government was required to close the island's second-largest bank, Laiki, and impose a 47.5 percent haircut on deposits above 100,000 euros at Bank of Cyprus.
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