| Bank of Cyprus Group History |
From 1899 to date
[ 1899 ]
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".
[ 1912 ]
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.
[ 1930 ]
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.
[ 1943 ]
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").
[ 1944 - 1964 ]
Establishment of Mortgage Bank Cyprus, General Insurance of Cyprus and Bank of Cyprus (London).
[ 1973]
Reogranisation of the Group, with the establishment of Bank of Cyprus (Holdings) to take over the shares of Bank of Cyprus and all its subsidiaries.
[ 1980 - 1990 ]
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. Establishment of the Cyprus Investment and Securities Corporation (CISCO). Acquisition of the operations of Chartered Bank in Cyprus, acqusition of Kermia, establishment of the life insurance company EuroLife. Opening of representative offices in Greece and Australia. Establishment of the Bank of Cyprus Cultural Foundation.
[ 1991 - 1995 ]
In 1991, with the opening of the first branch in Greece, enormous new prospects opened up for the Group and the globalization process began. Establishment of Bank of Cyprus Factors and establishement of ABC Factors, the first factoring company in Greece. Opening of representative offices in South Africa. Opening of the museum of the History of Cyprus Coinage.
[1996 - 1999]
The first Greek-speaking offshore bank, Bank of Cyprus (Channel Islands) established in Guernsey, Channel Islands. Representative offices opened in Toronto (Canada), New York, Moscow and Bucharest. Etablishment of Kyprou Leasing and Kyprou Mutual Fund Management Company (AEDAK) in Greece. Group restructuring with shares of Bank of Cyprus (Holdings) being replaced by Bank of Cyprus shares. Opening of the Bank of Cyprus Oncology Centre.
[ 2000 ]
Listing of the Bank of Cyprus shares on the Athens Stock 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 ]
Establishment of a branch of General Insurance of Cyprus in Greece, under the name Kyprou Asfalistiki, and of Eurolife, under the name Kyprou Zois, αcquisition of a brokerage company in Greece, renamed to Kyprou Hrimatistiriaki. Sale of 50% share in ABC Factors to Alpha Bank. Factoring services to be carried out by the Bank of Cyprus Greece under the name of Kyprou Factors.
[ 2002 - 2006 ]
Establishment of Factoring Services within the Bank 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).
[ 2007 ]
Expansion of Bank's operations in Russia and Romania.
[ 2008 ]
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.