Bank Of Cyprus Secures Fourth Consecutive STP Award

by THEFUTURE.TEAM

January 26, 2026

Exemplary Automation In Fund Transfers

The Bank of Cyprus (BoC) has once again demonstrated its commitment to operational excellence by being awarded the prestigious ‘STP AWARD 2025’ by the Bank of New York for the fourth consecutive year. This accolade recognizes BoC’s high-quality procedures in managing fund transfers through the SWIFT system, with an impressive 98 percent of payments being processed via Straight Through Processing. Such efficiency underscores the bank’s expertise in reducing manual intervention in critical financial operations.

Strategic Collaborations Enhance Global Operations

In its strategic role, the Bank of New York serves as one of BoC’s key correspondent banks for US dollar transactions. This partnership not only attests to BoC’s robust internal frameworks but also reinforces its position within a global network of financial institutions. As noted by Despina Kyriakidou, BoC Treasury Director, the recognition from a major US financial institution is a testament to both the high operational standards and the international trust bestowed upon the bank.

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A Commitment To Excellence In Financial Services

Despina Kyriakidou further emphasized that the award reflects the high standards maintained by BoC and the reliability that international organizations have come to expect from the institution. The collaboration with the Bank of New York significantly enhances the comprehensive suite of banking and financial services offered to business, institutional, and individual clients, both in Cyprus and across global markets.

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Eurobank Approves €258.7M Dividend And €288M Share Buyback

by THEFUTURE.TEAM

April 29, 2026

Robust Dividend And Share Repurchase Initiatives

Eurobank S.A. shareholders approved a dividend distribution of €258.7 million at the annual general meeting held on April 28. The resolution was supported by approximately 77% of paid-up capital, representing more than 2.77 billion voting shares. The dividend will be paid from special reserves and remains subject to approval by the European Central Bank.

Strategic Share Buyback And Capital Optimization

In addition, shareholders approved a share buyback programme of up to €288 million over the next 12 months, pending regulatory clearance. The programme includes the cancellation of 28,097,019 own shares, which will reduce share capital by approximately €6.18 million. Following this adjustment, total share capital is set at €792,751,032.04, divided into around 3.6 billion ordinary voting shares with a nominal value of €0.22 each.

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Enhanced Executive And Employee Incentives

Alongside capital measures, the meeting addressed remuneration. Shareholders approved an allocation of €35.2 million from special reserves for employee compensation. A five-year programme was also introduced to distribute shares to eligible executives and employees of Eurobank and affiliated entities. In parallel, a revised variable remuneration framework allows selected senior executives to receive up to 200% of fixed pay.

Governance And Audit Oversight Reforms

Changes were also made at the board level. Alexandra Reich was appointed as an independent non-executive director, replacing Jawaid Mirza. Following this appointment, eight of the thirteen board members are classified as independent. Amendments to the articles of association introduce flexibility in board terms and allow partial renewals.

Strengthening Audit And Sustainability Commitments

On the audit side, KPMG Certified Auditors S.A. was appointed as the statutory auditor for 2026. The fee is set at €1.8 million for statutory audits of separate and consolidated financial statements, with an additional €0.3 million allocated for assurance of the sustainability statement. The meeting also approved the 2025 remuneration report and confirmed committee fee arrangements, alongside updates on audit committee activity and independent director reporting.

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