The Banker, one of the world's leading publications specializing in banking and finance, has named the Bank of Cyprus as the Bank of the Year 2024 in Cyprus.

This award recognizes the Bank's strong financial and operational performance, significant year-on-year increases in shareholder returns, and its expanding range of digital offerings through platforms such as Quickhub and Jinius. Additionally, it highlights the Bank's dedication to sustainability. The evaluation period for the award spanned from July 2023 to June 2024.

Announcing the accolade, Silvia Pavoni, Editor-in-Chief of The Banker, stated: "The Bank of Cyprus has transformed its operations over the last decade, achieving impressive improvements in its balance sheet and profitability. At the same time, it has launched new and innovative digital initiatives. The Bank's efforts to develop more sustainable products should also be noted."

Commenting on the award, Panicos Nicolaou, CEO of the Bank of Cyprus, expressed his satisfaction: "We are delighted to be named Bank of the Year in Cyprus by The Banker. This international recognition affirms the success of our customer-centric strategy, which focuses on leading Cyprus through its digital and sustainable transformation. Our strong financial and operational performance, combined with sustainable returns for our shareholders, underscores our commitment."

He further highlighted the Bank's achievements, including:

• A Return on Tangible Equity (ROTE) of 22.9% for the first nine months of 2024.

• A sixfold increase in annual shareholder distributions.

• The launch of the B2C marketplace on Jinius, the Bank's digital economy platform.

• The highly successful issuance of a €300 million green bond.