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Bank of Cyprus Named “Bank of the Year in Cyprus 2023”
Bank of Cyprus has been awarded the title of “Bank of the Year in Cyprus” by the prestigious international publication The Banker. The accolade, announced on December 6, marks a significant milestone for the financial sector, reaffirming the market leadership of the nation’s largest banking institution as it actively advances the Cyprus economy and facilitates real estate investments in Cyprus.
Key Drivers Behind the Award
- Successful reduction of non-performing exposures (NPEs), accelerated notably by Project Helix;
- Robust expansion in new lending volumes alongside rising profitability metrics;
- Market share consolidation and reinforced resilience amidst a challenging global economic climate.
Executive Commentary
Panicos Nicolaou, CEO of Bank of Cyprus, highlighted that the accolade validates the commitment of the bank’s staff and the ongoing trust of its clients:
“We are delighted that The Banker has named us Bank of the Year in Cyprus. This international recognition acknowledges our dedication to upgrading service quality, expanding innovative banking products, and driving the broader economy of Cyprus.”
Bank of Cyprus: Institutional Profile
- The leading financial institution in Cyprus, established in 1899;
- Total assets exceeding €20 billion;
- International footprint spanning the UK, Australia, Greece, and Romania;
- Dual listing on the Cyprus Stock Exchange (CSE) and the Athens Stock Exchange;
- Key component of the Dow Jones Cyprus Titans 10 Index.
The distinction from The Banker reinforces Bank of Cyprus’s standing as the premier financial institution supporting national banking stability and financing strategic economic sectors, particularly the Cyprus property market. The bank provides advanced mortgage financing in Cyprus for both domestic residents and international buyers, fueling sustained demand for coastal homes and prime real estate in Limassol, Paphos, and other key coastal districts.
Modern financial products provided by Bank of Cyprus make acquiring property in Cyprus more accessible and transparent, underpinning strong investor confidence and promoting the sustainable development of the seaside residential market.
Keywords: Bank of Cyprus, Cyprus banking system, Cyprus finance, best bank in Cyprus, Cyprus economy, Cyprus mortgage, Cyprus investments, Cyprus real estate, homes by the sea, property for sale in Cyprus, Limassol, Paphos.
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