Euromoney, a leading international magazine specialising in banking, finance, and financial markets, has awarded the Bank of Cyprus the title of the best bank in Cyprus for 2024.
This marks the ninth occasion that the bank has received this accolade from Euromoney.
In a statement, the bank said that the award, which assessed its performance from January 1, 2023, to December 21, 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, editor of Euromoney, said that “the past year has been a significant one for the Bank of Cyprus because it paid its first dividend in 12 years in 2023″.
“While this was relatively small at €22 million or 14 per cent of 2022 earnings, it secured ECB approval for a 30 per cent pay-out ratio over 2023 earnings, including a share buyback for up to €25 million and a cash dividend of €112 million,” Bowman added.
Meanwhile, Bank of Cyprus CEO Panicos Nicolaou expressed his pride in the award. “We are delighted and proud to be named Cyprus’ Best Bank by Euromoney for the 9th year,” he said.
“This important international recognition acknowledges the Bank’s many achievements in 2023,” he added.
What is more, Nicolaou explained that these achievements “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,” the Bank of Cyprus CEO concluded.
