Having worked with Hellenic Bank for four years, Cyprus Public Transport is convinced it chose the most reliable partner.
Julio Tironi, CEO of Cyprus Public Transport, said the company started its activity in July 2020, having won the contract for public transportation in the Nicosia and Larnaca districts.
The company now boasts more than 250 transport units, and over 600 employees.
“In terms of customers, we are now at 30 per cent more than at the peak before the Covid crisis, while the average in Europe is 20 per cent less than that peak,” said Tironi.
“We chose Hellenic Bank as our financial partner for this challenging process. It was a very tough situation when we started, in the middle of the Covid crisis, the lockdowns and so on. And we managed to do it, we managed to succeed.”
For his part, Tryfonas Hadjichristoforou, finance manager of Cyprus Public Transport, stressed that the company’s professional association with Hellenic Bank began even before it started operations in Cyprus.
“Of course, in the beginning, we assessed all our options with financial institutions in Cyprus and abroad,” Hadjichristoforou explained.
“However, the professionalism, the required speed and the understanding of our needs, were key factors in our decision to join forces with Hellenic.”
Hellenic Bank and Cyprus Public Transport have been together since the contract tendering process. Hellenic provided the tender guarantee.
“And ever since,” notes Hadjichristoforou, “we use Hellenic Bank as a ‘One-Stop Shop’ for all our financial needs.”
Initially, the company faced a major problem in the midst of the Covid-19 pandemic.
All the factories were closed, and there weren’t any available buses to bring to the island.
“So we booked a ship directly from China to Cyprus, and we managed to bring the whole bus fleet in record time,” said the financial manager.
“Hellenic Bank, of course, was our partner throughout this whole procedure. Not only did they provide the financing, but also set up all the necessary procedures for the company – from cash collection, to cash reconciliation, to the payroll.”
The company started out with just four employees back in March 2020, and by August 2020 the staff had grown to over 600.
“After overcoming all these obstacles, our relationship with Hellenic Bank is now mature. We are working together on future projects, as we move forward and expand.”
The two recent projects – Park & Ride, which is basically a fast lane in Nicosia at peak traffic hours, and the on-demand transport of people with disabilities – are two great examples of the direction of the company.
“Having worked with Hellenic Bank for almost four years, and after successfully operating the concession in Nicosia and Larnaca, we feel confident that we made the right choice,” asserts Hadjichristoforou.
Follow the story of Cyprus Public Transport and its collaboration with Hellenic Bank HERE.
Click here to change your cookie preferences