Bank of Cyprus — Operaciones en Grecia

Bank of Cyprus — Operations in Greece

Brief history and founding

Bank of Cyprus was founded in 1899 in Larnaca and is the largest banking group headquartered in Cyprus. Over more than a century it expanded its footprint beyond the island, establishing commercial links and operations in a number of international markets, including Greece. The bank's presence in Greece has evolved alongside wider developments in the Cypriot and European banking systems, including the post-2012–2013 restructuring of Cyprus’s banking sector and the integration of euro-area supervisory frameworks. Today, Bank of Cyprus operates in Greece as part of its regional strategy to serve retail, corporate and institutional clients with cross-border needs between Cyprus and Greece.

Type of bank

Bank of Cyprus is a universal bank. Its product and service mix covers retail banking (personal banking and wealth management), corporate and commercial banking (including SME and large corporate lending), private banking, treasury and capital markets activities, and selected investment banking services. The group therefore serves a broad client base: individual consumers, small and medium enterprises, large corporations and institutional clients.

Key services offered

Bank of Cyprus's operations in Greece provide a suite of mainstream banking products similar to its offerings elsewhere in the group:

• Personal banking: current and savings accounts, debit and credit cards, consumer loans and overdraft facilities, mortgages and home loans, and digital banking services (online and mobile banking).
• Business and corporate banking: business current accounts, cash management, trade finance (letters of credit, guarantees), corporate lending and working capital facilities, project finance and tailored relationship management for SMEs and larger corporates.
• Wealth management and private banking: investment advisory, discretionary portfolio management, pensions and retirement planning, and structured savings solutions for higher-net-worth clients.
• Treasury and capital markets services: foreign exchange, money markets, interest-rate products and access to debt capital markets for corporate clients.
• Non-performing loan (NPL) servicing and restructuring: like other banks in the region, Bank of Cyprus has been active in reducing NPEs (non-performing exposures) and provides restructuring and workout solutions for indebted individuals and companies.

Notable features or specializations

• Cross-border Cyprus–Greece capability: Given cultural, linguistic and commercial ties, Bank of Cyprus emphasizes services for individuals and companies operating between Greece and Cyprus, including cross-border payments, trade finance and international wealth structuring.
• History of restructuring and NPL reduction: Following the severe stresses in the Cypriot banking sector in the early 2010s, the bank has focused on balance-sheet repair, capital strengthening and active management