For the third consecutive year, Bank of Cyprus has received the prestigious international STP Award for excellence in the processing of customer payments in euro.
This award is given to correspondent banks that have the highest percentage of international commercial payments that do not require manual processing. Bank of New York estimates that the level of STP payments sent by Bank of Cyprus reached 99.9% in 2023.
This award confirms that one of the largest Cypriot financial institutions meets high quality standards in the international payment system. For the bank's customers, this means a consistently high level of international payments, guaranteeing the speed, reliability and security of data transfer.
Bank of New York is one of the largest US financial institutions operating globally. This award confirms the global organisation's confidence in our bank. The cooperation with Bank of New York further strengthens the banking and financial services offered by the Bank to corporate, institutional and private clients in Cyprus and abroad," said Despina Kyriakidou, Director of Treasury at Bank of Cyprus.
Established in 1899, Bank of Cyprus is one of the oldest and largest financial institutions in Cyprus.
Among the organisations listed on the Cyprus Stock Exchange, the Bank of Cyprus Financial Group ranks first in terms of capitalisation. The Bank serves the interests of the private and corporate sectors through financing, factoring, investment activities, brokerage, financial management, private banking and insurance. The Group has more than 580 branches in Cyprus, Greece, the United Kingdom, Canada, Romania, Australia and the Channel Islands.