John Hourican extended his stay at the Bank of Cyprus Public Co. Ltd. as CEO until the end of 2018, The Irish Times reported March 28, adding that his term was due to expire in February that year.

Hourican, former head of global banking and markets division at Royal Bank of Scotland Group Plc, joined Bank of Cyprus in 2013 and went back on his resignation in 2015 to stay with the bank during a national debt crisis.

The extension of his contract means Hourican is out of the running to succeed Bank of Ireland CEO Richie Boucher, who intends to retire later in 2017.