From 1899 to 2010
On January 1, 1899, a group of progressive and visionary Cypriots led by Ioannis Economides, a significant figure in financial and social circles, founded the "Nicosia Savings Bank". This was the first Cypriot banking institution.
The "Nicosia Savings Bank" gradually gained the confidence of the people of Nicosia. In December 1912, it was recognized as a public company and renamed Bank of Cyprus, following an application by the shareholders of the Savings Bank to the High Commissioner in 1909.
In the years that followed, the Bank of Cyprus established its excellent reputation and gained broad recognition. In 1930 it was incorporated as α limited company offering full banking services as the pre-eminent local bank.
In 1943 it merged with the Bank of Famagusta and the Bank of Larnaca. In the years that followed it merged with banking institutions in other towns that strengthened it further, transforming it into an organization with an islandwide presence. Taking on a totally new image, it adopted as its emblem the ancient Cypriot coin bearing the inscription "ΚΟΙΝΟΝ ΚΥΠΡΙΩΝ" ("Common to all Cypriots").
In the 1980's the Bank of Cyprus enjoyed a period of impressive development and progress. It greatly increased its capital base and expanded continuously into new financial areas.
Opening of the first branch in Greece.
Establishment of ABC Factors the first factoring company in Greece, in cooperation and equal interest with Alpha Bank.
Foundation of a delegation office in South Africa. Operation of BOC Global Equity Fund, the first international mutual fund that was created by a Cypriot bank.
Foundation of the company Bank of Cyprus (Channel Islands) in Guernsey, the first Greek international banking unit in Channel Islands. Foundation of a delegation office in Toronto of Canada. Operation of the first fully automated branch with 24h banking service in Cyprus. Consumer loans in foreign currency.
Foundation of Kyprou Leasing in Greece. Operation of the first branch of Bank of Cyprus in London.
Foundation of delegation offices in New York and Moscow. Foundation of Anonymous Com of Mutual Fund Management, Kyprou AEDAK in Greece. Bank of Cyprus Group is listed on the London Stock Exchange. Operation of the Bank of Cyprus Oncology Centre in Nicosia.
Foundation of a delegation office in Bucharest. Foundation of Kyprou Commercial S.A. and Kyprou Properties S.A.
Successful listing of the Bank of Cyprus shares on the Athens Stock Exchange. Foundation of Bank of Cyprus Australia Pty Ltd and operation of the first branches of the company.
Establishment of a branch of General Insurance of Cyprus in Greece under the name Kyprou Asfalistiki and EuroLife under the name Kyprou Zois. Acquisition of a brokerage company in Greece, renamed to Kyprou Securities S.A. Sale of 50% share in ABC Factors to Alpha Bank.
Establishment of Kyprou Factors, factoring services within the Bank of Cyprus in Greece. Merger of the operations of Bank of Cyprus Factors and Bank of Cyprus Finance Corporation within Bank of Cyprus. Commencement of leasing operations through the establishments of the leasing subsidiary Cyprus Leasing (Romania).
Expansion of Bank's operations in Russia and Romania.
Acquisition of the Ukrainian Bank AvtoZAZBank and commencement of banking services in Ukraine. Acquisition of 80% of Uniastrum Bank in Russia and expansion into the retail banking sector of the local market.
Commencement of the establishment of a Representative Office in India and a banking unit in the Emirate of Dubai.