For the fourth consecutive year, Bank of Cyprus (BoC) has earned the Quality Recognition Award from banking giant JP Morgan Chase Bank. The award is given in recognition of excellent funds transfer processes under SWIFT.

JP Morgan is one of the correspondent banks with whom BoC works for transactions in US dollars. The award was presented to Bank of Cyprus, given that nearly 100 per cent of payments effected in 2024 were processed directly (Straight-Through Processing) without the need for any manual intervention on JP Morgan’s part.

The Quality Recognition Award underlines the excellent quality of BoC’s services and processes. The award recognises the correspondent banks that have attained operational excellence in funds transfers.

“Providing quality services to customers and partners alike, is the cornerstone of all our efforts,” said Despina Kyriakidou, Director Treasury at Bank of Cyprus, commenting on the award.

“Particularly when it comes to working with correspondent banks, we demonstrate on a daily basis that we are a reliable partner to the largest banking groups globally,” she continued. “We will continue to provide excellent services, while applying the highest international compliance standards.”