CarVal Investors, a prominent investment fund, has further reduced its stake in the Bank of Cyprus, decreasing its shareholding from 4.99 per cent to 3.07 per cent, according to a report from Stockwatch.

This reduction, executed on March 18, 2025 and disclosed on March 19, leaves CarVal holding 440,224,067 shares in the bank.

This move aligns with a broader trend observed among major investment funds adjusting their positions in the Bank of Cyprus.

Notably, Caius Capital LLP, which became a significant shareholder in 2019 with a 9.58 per cent stake, has been gradually divesting since 2021.

By January 2025, Caius Capital’s stake had declined to 4.98 per cent, following multiple sales, including transactions in September 2021, April 2022, June and October 2023, and January 2025.

CarVal Investors entered the Bank of Cyprus shareholder base in January 2021, expanding its stake to 9.07 per cent by 2023.

However, in October 2024, the fund reduced its position by 3 per cent and continued selling shares into early 2025.

Between January and early March 2025, CarVal sold approximately 4,996,000 shares, reducing its holding from 6.12 per cent at the end of 2024 to 4.99 per cent by March 5, 2025.

These divestments coincide with the Bank of Cyprus’s €30 million share buyback programme, initiated on February 24, 2025.

The programme aims to repurchase and cancel shares, thereby reducing the company’s share capital. The buyback is set to run until February 5, 2026, with the European Central Bank’s approval granted on February 6, 2025.

Despite the substantial sell-offs by CarVal and Caius, the bank’s stock price has remained stable, indicating a well-managed divestment process.

*This article is a translated version of content originally published on StockWatch.