Euromoney, one of the leading international magazines focused on banking, finance and financial markets, has named Bank of Cyprus (BoC) the Best Bank in Cyprus in its 2024 Awards for Excellence. This is the ninth year that Euromoney has recognised BoC as Cyprus’ Best Bank.

This award, for which the evaluation period ran from January 1-December 31, 2023 recognises the Bank’s significant achievements in 2023, in the first year of the Bank’s new chapter as a well-capitalised, diversified and sustainably-profitable financial services group.

Louise Bowman, Euromoney’s Editor hailed the achievement. “The past year has been a significant one for Bank of Cyprus because it paid its first dividend in 12 years in 2023. While this was relatively small at €22 million or 14 per cent of 2022 earnings, it secured ECB approval for a 30-per cent pay-out ratio over 2023 earnings, including a share buyback for up to €25 million and a cash dividend of €112 million,” she said.

For his part, Panicos Nicolaou, CEO of Bank of Cyprus expressed his satisfaction at the award. “We are delighted and proud to be named Cyprus’ Best Bank by Euromoney for the ninth year,” he said. “This important international recognition acknowledges the Bank’s many achievements in 2023. These include significant improvements in the Bank’s best-in-class digital offering to customers, through the launch of our digital branch, QuickHub, and the enhancement of Jinius – Cyprus’ only digital economy platform. We remain focused on serving our customers, creating value for our shareholders and supporting the economy.”

Euromoney’s article on Bank of Cyprus for its Best Bank in Cyprus award can be seen here.

About Bank of Cyprus Group

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services, which include: retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance.

As of March 31, 2024, the Bank of Cyprus Group operated through a total of 58 branches in Cyprus, of which three operated as cash offices. The Bank of Cyprus Group employed 2,847 staff worldwide.

Also as of March 31, 2024, the Group’s Total Assets amounted to €24.9 billion and Total Equity was €2.6 billion. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited, and its subsidiaries.