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Bank of Cyprus the best

Bank of Cyprus was recognized as the best bank in Cyprus in 2023 according to the authoritative international financial magazine The Banker.

This was announced on Wednesday, December 6, by the management of the main bank of the island state.

Bank of Cyprus CEO Panicos Nikolaou noted that the award comes at a particularly difficult time for the global economy and financial system, which once again underlines the bank's commitment to reducing non-performing loans and returning to profitability.

It is worth noting that the key points in awarding Bank of Cyprus the title of the best bank in the country were the successful sale of the loan portfolio through Project Helix, as well as a number of other positive actions aimed at reducing the portfolio of problem loans.

In particular, The Banker emphasized that the outgoing year turned out to be very productive for the Bank of Cyprus, as it managed to significantly reduce the percentage of red loans. Other positives for Bank of Cyprus cited by the magazine included record increases in new lending and profits.

We are delighted to have been named Cyprus Bank of the Year by The Banker. This award is international recognition of the significant efforts and commitment of our employees to improve the services and products we offer to our customers, as well as supporting the local economy. “I would like to take this opportunity to thank our shareholders for their many years of support, our employees for their dedication and professionalism, and our customers for their trust,” commented Panikos Nikolaou.

Let us remind you that Bank of Cyprus is the largest bank in Cyprus. It was founded in 1899. Conducts operations in the UK, Australia, Greece, Romania. The bank's total assets exceed 20 billion euros. The bank's shares are traded on the Cyprus Stock Exchange (CSE). Bank of Cyprus is the largest bank by market capitalization on the CSE and has a wide range of shareholders. Since October 8, 2007, this bank has been included in the Dow Jones Cyprus Titans 10 Index. It is also listed on the Athens Stock Exchange.