Bank Of Cyprus Is The Islands National Bank

Bank Of Cyprus History In A Nutshell

Bank Of Cyprus facts

• 1899 Establishment and operation of the Nicosia Savings Bank
• 1912 Nicosia Savings Bank renamed and recognised as a public company
• 1943 Bank merges with banking institutions in other towns and expands throughout Cyprus. Ancient Cyprus coin bearing the inscription “Koinon Kyprion” (common to all Cypriots) adopted as the Bank’s emblem
• 1944 Establishment of Mortgage BOC
• 1951 Establishment of General Insurance of Cyprus
• 1955 Establishment of Bank in London
• 1964 Establishment of BOC Finance Corporation
• 1973 Reorganisation of the Group, with the establishment of BOC (Holdings) to take over the shares of BOC and all its subsidiaries

• Cyprus Bank 1980 To 1989

• 1980 Acquisition of Chartered Bank in Cyprus
• 1982 Establishment of The Cyprus Investment and Securities Corporation (CISCO)
• 1983 Acquisition of Kermia by the Group. Representative Offices opened in Greece and Australia
• 1984 Establishment of the Banks Cultural Foundation
• 1989 Establishment of the life insurance company EuroLife

• Cyprus Bank 1991 To 1999

• 1991 Bank opens its first branch in Greece
• Establishment of the BOC Medical Foundation
• 1992 Establishment of BOC Factors
• 1993 Establishment of ABC Factors, the first factoring company in Greece. Karmazi Properties & Investments acquired and renamed Kermia Properties & Investments
• 1995 Representative Office opened in South Africa. Museum of the History of Cypriot Coinage founded
• 1996 The first Greek-speaking offshore bank, BOC (Channel Islands) established in Guernsey, Channel Islands Representative Office opened in Canada (Toronto)
• 1997 Kyprou Leasing established in Greece. Opening of the first branch in the United Kingdom
• 1998 Representative Office opened in Russia (Moscow). Kyprou Mutual Fund Management Company (AEDAK) established in Greece Opening of the BOC Oncology Centre
• 1999 Group restructuring Representative Office opened in Bucharest. “Oikade” educational programme launched

• Cyprus Bank 2000 To Present

• 2000 Listing of the Group’s share on the Athens Exchange. Establishment of Bank of Cyprus Australia and operation of its first branches. Electronic banking introduced to provide alternative service channels (internet, telephone, WAP).
• 2001 Kyprou Asfalistiki, a branch of General Insurance of Cyprus, and Kyprou Zois a branch of EuroLife, open in Greece. Greek company Victory Securities acquired and renamed Kyprou Securities. Sale of 50% stake in ABC Factors to Alpha Bank
• 2002 BOC Factors starts providing factoring services in Greece
• 2004 Merger of BOC (London) and the UK branch of the Bank
• 2005 Merger of the operations of BOC Factors and Finance Corporation with Bank of Cyprus. 100th branch opened in Greece
• 2006 Commencement of leasing operations in Romania through the establishment of the leasing subsidiary Cyprus Leasing (Romania)
• 2007 Banking services commenced in Romania and Russia.
• 2008 Commencement of banking services in Ukraine through the acquisition of AvtoZAZbank. Acquisition of 80% of Uniastrum Bank in Russia and expansion into the retail banking sector of the local market
• 2010 Commencement of the establishment of a Representative Office in India and a banking unit in the Emirate of Dubai.

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