Euromoney names Bank of Cyprus the Best Bank in Cyprus

Press Release 10:48 - 27 August 2024

Financial Services Reporter

Euromoney, one of the leading international magazines focused on banking, finance and financial markets, has named Bank of Cyprus the Best Bank in Cyprus in its 2024 Awards for Excellence. This is the 9th year that Bank of Cyprus has been recognised by Euromoney as Cyprus’ Best Bank.

This award, for which the evaluation period ran from 1 January 2023 to 31 December 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, said: “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% of 2022 earnings, it secured ECB approval for a 30% pay-out ratio over 2023 earnings including a share buyback for up to €25 million and a cash dividend of €112 million.”

Commenting on the award, Panicos Nicolaou, CEO of Bank of Cyprus said:

“We are delighted and proud to be named Cyprus’ Best Bank by Euromoney for the 9th year. 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.

Euromoney names Bank of Cyprus the Best Bank in Cyprus

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