Business & Finance

EBRD Sells Remaining Stake in Bank of Cyprus

The exit marks the end of EBRD’s decade-long role in supporting the lender’s post-crisis recovery.

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GEORGIA CHANNI

The European Bank for Reconstruction and Development (EBRD) has sold its entire 5% holding in Bank of Cyprus, marking the exit of the lender’s last legacy shareholder.

The stake was placed with institutional investors on the Athens Stock Exchange, with strong demand reportedly coming from long-term funds such as Wellington and Vanguard.

Bank of Cyprus described the transaction as a vote of confidence from international investors in both the bank and the Cypriot economy.

The EBRD first invested in 2014 to support the bank’s restructuring in the wake of the financial crisis. Since then, Bank of Cyprus has returned to profitability, sharply reduced its non-performing loans, and re-listed on the Athens exchange following its departure from London.

Kristina Zagar, EBRD’s Director for EU Banks and Structured Finance, said the institution was “proud to have supported Bank of Cyprus on its transformation journey,” adding that the lender had evolved into a resilient business with stronger governance and a sustainable model.

 

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#CYPRUS #BUSINESS & FINANCE #ECONOMY

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