The Bank of Cyprus has been honoured with the “Best Financial Institution Bond in Southeast Europe” award by EMEA Finance for its issuance of Additional Tier 1 (AT1) capital securities worth €220 million in June 2023. This accolade highlights the bank’s financial and operational strength, particularly significant as the bond issuance successfully reopened this market segment following the collapse of Credit Suisse.

The AT1 issuance was met with extraordinary demand, with an order book oversubscribed over twelve times, exceeding €2.75 billion. This overwhelming investor interest underscores the bank’s solid reputation and market confidence in its financial health and strategic direction.

Bank of Cyprus CEO Panicos Nicolaou praised this achievement, viewing it as a milestone that aligns with the bank’s 125th anniversary celebrations. He noted that the successful bond issuance is a testament to the bank’s progress and resilience, reflecting its strategic initiatives aimed at strengthening its capital base and supporting sustainable growth.

The recognition from EMEA Finance places the Bank of Cyprus at the forefront of financial innovation and stability in the region. The award not only celebrates the bank’s past accomplishments but also sets a solid foundation for future endeavours in the evolving financial landscape.

The bond issuance and subsequent award signify a significant achievement for the Bank of Cyprus, reinforcing its position as a leading financial institution in Southeast Europe. As the bank continues to navigate the complex economic environment, this accolade serves as a reaffirmation of its strategic vision and commitment to excellence.