The company reported that 22,401,744 shares were offered through a book-building process exclusively to institutional investors on the Athens Stock Exchange (ASE).
The European Bank for Reconstruction and Development (EBRD) initially invested in Bank of Cyprus in 2014 to support the bank’s restructuring and stabilization efforts following the global financial crisis and the subsequent recession in the Eurozone.
Since that time, the group has returned to profitability, delivering an average return on equity of approximately 20% during the 2023-2024 period, while successfully reducing its non-performing loan ratio from approximately 60% to 2.5%.
According to the announcement, “the divestment of EBRD’s stake is expected to enhance the liquidity of Bank of Cyprus shares on the Athens Stock Exchange.” Between 2014 and 2020, EBRD invested approximately €600 million in Cyprus, primarily aimed at supporting the recovery of the financial sector in the post-crisis period.
