Bank of Cyprus has been recognised by Euromoney magazine as the best bank in Cyprus in the private banking sector for the eighth time.
The publication, as part of its Global Private Banking Awards 2024, recognised the quality of products and services offered to the bank's clients.
We are extremely pleased and proud to be named Best Bank in Cyprus by Euromoney for the ninth consecutive year. This award is an important recognition of our efforts to modernise and develop innovative tools. At the same time, Bank of Cyprus, as the largest financial institution in Cyprus, remains committed to supporting the Cypriot economy," said Panicos Nicolaou, CEO of Bank of Cyprus.
It is worth noting that the key points in Bank of Cyprus being awarded the title of the best bank in the country were the significant reduction in the percentage of red loans, as well as a record increase in the amount of new loans. The award recognises Bank of Cyprus's significant achievements, such as strong financial and operational performance, the resumption of dividend payments after a twelve-year hiatus, and the expansion of its digital offering to customers. With strong profits, the bank has demonstrated strong performance as it strives for sustainable growth and further development of innovative banking products.
About the awards
Euromoney is the world's leading monthly magazine on banking, finance and capital markets. Since 1992, the Euromoney Awards have honoured the leading figures in banking, finance and investment in 100 countries and are regarded as one of the most prestigious accolades in the international financial world.
Euromoney takes particular care to maintain high standards of impartiality, fairness and accuracy in determining the winners. Editors, experts and analysts scrutinise the activities of each candidate bank, conduct their own market research with international correspondent banks and seek the opinions of prominent financiers and bankers.
The decision-making process usually takes two months.