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Where we Operate

Cyprus and United Kingdom

Cyprus

Bank of Cyprus is the largest banking and financial services group in Cyprus, with significant market shares across all business segments on the island. The Bank is contributing to and benefitting from the accelerated economic recovery in Cyprus and we recognise our role in ensuring a sustainable recovery.

Bank of Cyprus Group is a systemic bank in Cyprus and is regulated by the Central Bank of Cyprus and the European Central Bank.

  • 92% of the Bank’s total income of €238 million generated in Cyprus in 2Q2016
  • Healthy net interest margin at 353 basis points*
  • Relatively low cost to income ratio at 41% *
  • We are actively seeking to provide more credit to viable consumers, households and corporates

*During 1H2016 [UPDATE]

 

United Kingdom

The Group has a wholly owned subsidiary, Bank of Cyprus UK, which focuses on meeting the needs of entrepreneurs and owner-managed businesses.

Bank of Cyprus UK is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).

  • BOC UK has particular expertise in the professional buy-to-let property market, which contributes to 75% of the Bank’s lending portfolio (average LTV of 55%) and is concentrated in London and South East England
  • BOC UK is growing its lending business in order to improve profitability; self-funded growth through retail deposits
  • This growth will create a consumer division (consumer mortgages, savings and current accounts) and business division (trade related products for professionals, SMEs and Cypriot residents)
  • New CEO appointed in December 2015 to lead BOC UK, Nick Fahy has over twenty years’ experience in banking
  • Wider executive team strengthened with a new CFO, CRO, Chief Customer & Commercial Officer and MD Consumer 

 

Bank of Cyprus (Channel Islands) Limited (in voluntary liquidation) (“the Company”)

 Linda Johnson and Ashley Paxton of KPMG Channel Islands Limited were appointed Joint Liquidators of the Company on 16 December 2016.

 All enquiries in respect of the affairs of the Company should be directed to the Joint Liquidators, whose contact details are as follows:

Linda Johnson and Ashley Paxton
KPMG Channel Islands Limited
Glategny Court
Glategny Esplanade
St Peter Port
GUERNSEY
GY1 1WR

Tel:  +44 (0) 1481 741898
Fax: +44 (0) 1481 722373

Restructuring-ci@kpmg.com

The affairs, business and property of the Company are managed by the Joint Liquidators. The Joint Liquidators act as agents of the Company and without personal liability at all times.