Awards for Excellence 2008: Cyprus
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Awards for Excellence 2008: Cyprus

Best bank: Bank of Cyprus

Bank of Cyprus is not only the largest bank in the country but also the best run. With net income growth of 55%, a cost to income ratio of 43.6% and a return on equity of 27.6%, it is hard to fault.

The group has also succeeded in gaining market share at home, growing its share of total loans, for example, 2.3 percentage points to 29% in 2007.

Bank of Cyprus has also been expanding in Greece, with a strategy focused on housing and consumer loans, which it managed to increase by 31% and 23% respectively.

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