Bank of Cyprus’ triumphant return to the Athens Stock Market (pics)

15:33 - 23 September 2024

Companies

Ringing the bell to signify the start of trading hours, Chairman of Bank of Cyprus’ (BoC) Board of Directors Takis Arapoglou also marked the first day of trading for the bank’s shares on the Athens Stock Exchange – marking the largest Cypriot bank’s triumphant return after a seven-year absence.

BoC’s decision to re-list its shares on the Greek stock market is part of a broader strategy and the next step in its 125-year history, as it aims for long-term, sustainable growth and value added, both for shareholders and clients. It also helps the bank reach a broader base of institutional and private investors.

A special ceremony was held to mark the event, in the presence of Arapoglou, and BoC’s CEO Panicos Nicolaou, as well as other officials from the bank as well as the Athens Stock Exchange.

“We decided to move to the ASE with the conviction that our tradability will increase even further, given that it will reach more analysts and investors, making it more directly comparable to banks that have a similar business model to us in the South East Europe region,” Arapoglou said during the ceremony, adding that the regulatory authorities’ approval of the bank’s distribution of dividends for two years in a row – amounting to 30% of the bank’s profits in 2023 – was significant recognition of the progress the bank has been making.

He said the ASE is a mature European stock market that aligns with the steady economic growth in Greece, and he warmly thanked its management for its support.

(Source: InBusinessNews)

Bank of Cyprus’ triumphant return to the Athens Stock Market (pics)

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