Bank of Cyprus Featured
Mr. Miltos Michaelas
Corner of Stasinou and 51 Ayia Paraskevi Street
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Bank of Cyprus Public Company Ltd ("the Bank") was founded in 1899 and is the holding company of the Bank of Cyprus Group ("the Group"). The Group offers a wide range of financial products and services, which include banking services, leasing, factoring, brokerage, fund management, investment banking, general and life insurance services.
The Bank of Cyprus Group operates a total of 588 branches and employs 12.137 staff worldwide. The Group is the leading financial services organisation in Cyprus, with a dynamic presence in Greece and Russia and operations in the United Kingdom, Australia, Romania, Ukraine and the Channel Islands. Bank of Cyprus also has eight representative offices in Russia, Romania, Ukraine, Canada and South Africa.
The Bank is licensed by the Central Bank of Cyprus and operates under its regulation and supervision.
The Bank's market share in deposits and loans in Cyprus, including credit cooperatives, amounts to 28,3% and 27,6%, respectively. The Bank operates 143 branches in Cyprus.
The Bank has been operating in Greece since 1991. The dynamic expansion of the Bank's Greek operations started in 1999. The Bank operates 164 branches in Greece. The market share of the Bank in deposits and loans in Greece amounts to around 4%. Kyprou Leasing, a Greek subsidiary of the Bank, held the second largest market share in the Greek leasing sector (18% share).
As part of its strategic plan, the Group expanded its international activities in Eastern Europe entering the markets of Romania, Ukraine and Russia in 2007 and 2008.
In Russia the Group commenced its operations in 2007 through the establishment of a wholly owned subsidiary and was the first Greek or Cypriot institution to enter the Russian market. In 2008 the Group's presence in the Russian market was further enhanced by the acquisition of an 80% interest in Uniastrum Bank.
Uniastrum Bank was founded in 1994 and has its headquarters in Moscow. It has the 13th largest distribution network in Russia operating though more than 220 branches in 43 regions. Uniastrum Bank offers an extensive range of products to the retail sector and enjoys high brand recognition. As at September 2009, Uniastrum was ranked 30th by retail loans and 17th by retail deposits.
In Romania the Group expanded its operations with the provision of banking and leasing services and currently operates 11 branches.
In Ukraine the Group operates 34 branches offering banking services in the Ukrainian market through a subsidiary.
The Group also operates in the United Kingdom and Australia through 4 and 10 branches respectively serving a diverse customer base.
At 30 September 2009, the Group's Total Assets reached €37,19bn and the Group's Shareholders' Funds were €2,36 bn.
The shares of the Bank are listed on the Cyprus Stock Exchange (CSE) and the Athens Exchange. The Bank is the largest listed company on the CSE in terms of market capitalisation and has a well-diversified sha