Bank of Cyprus appealed to the island's political leadership on Thursday to broker an immediate deal for funding with the EU to stave off financial ruin.

"It is imperative to move immediately towards brokering a deal with the Eurogroup which would ensure unobstructed liquidity to Cypriot banks to save the Cypriot economy," the island's largest lender said in a statement.

(Reporting By Michele Kambas; Editing by John Stonestreet)