Global Finance, the leading international banking and finance magazine, has named Bank of Cyprus the Best Bank and the Best Investment Bank in Cyprus in its annual awards.
The assessment was made by the magazine's editors, with the participation of industry experts, based on criteria such as market share, number and volume of transactions, services and advice, structuring of resources, distribution network, responsiveness to market conditions, innovation, pricing policy and post-placement share performance. Winners were determined based on points scored using a proprietary algorithm. Transactions announced or completed in 2023 were also taken into account.
As a result, Bank of Cyprus was the best performer among other financial institutions on all these indicators.
It should be noted that these awards are particularly significant for Bank of Cyprus as they reflect its achievements in 2023, the most important of which were: strong financial performance, operational efficiency, as well as the resumption of dividend payments after a 12-year hiatus and the expansion of digital services for customers.
In a landmark year for Bank of Cyprus, it completed a significant transformation into a well-capitalised and diversified banking group. With a pre-tax profit of €487m in 2023, the bank has demonstrated strong performance and commitment to sustainable growth and further development of innovative banking products," Global Finance said.
Panicos Nicolaou, CEO of Bank of Cyprus, thanked Global Finance for the confidence and honour.
We are delighted to be recognised by Global Finance as the best bank and the best investment bank in Cyprus. These awards are an international recognition of the strong financial and operational performance, as well as the innovative products and services we have delivered in 2023, supporting the Cypriot economy and creating sustainable value for our shareholders. The next step in our journey is to become even more coordinated, flexible and easy to engage with to deliver real benefits through our scale and capabilities in integrated services," said Nicolaou.
About Global Finance
Global Finance is one of the oldest and most respected publications in the international banking industry. Founded in 1987, it has a readership in 193 countries. Global Finance is headquartered in New York and has offices around the world. Global Finance regularly selects the best in banking and other financial services. These awards have become a recognised standard of excellence for the global financial community.
About Bank of Cyprus
Bank of Cyprus is the largest bank in Cyprus. It was established in 1899. It has operations in the United Kingdom, Australia, Greece and Romania. The Bank's total assets exceed 20 billion euros. Its shares are traded on the Cyprus Stock Exchange (CSE). Bank of Cyprus is the largest bank by market capitalisation on the CSE and has a wide range of shareholders. The bank has been included in the Dow Jones Cyprus Titans 10 Index since 8 October 2007. It is also listed on the Athens Stock Exchange.