Bank BasicsBoC
is the largest bank in Cyprus, founded in 1899 and headquartered in Nicosia. As a public company, its shares are traded on the Cyprus Stock Exchange and the Athens Stock Exchange. The BoC's major shareholders include institutional investors and public shareholders, reflecting its diversified shareholding structure.
Scope of
ServicesBoC has an extensive network of branches and ATMs in Cyprus, covering major cities and regions. Its ATM network supports modern card-not-present transactions, allowing customers to make contactless transactions via smartphones or smartwatches, adding convenience and security.
Regulation &
ComplianceBoC is regulated by the Central Bank of Cyprus and participates in a deposit insurance scheme to safeguard customer deposits. Banks regularly publish Pillar 3 Disclosure Reports to demonstrate transparency and accountability in capital adequacy, risk management and compliance.
Financial health
Capital adequacy ratio: As of the end of 2024, the BoC had an ordinary equity tier 1 capital (CET1) ratio of 19.2% and a total capital adequacy ratio of 24.0%, demonstrating a strong capital base.
Non-Performing Loan Ratio: As of December 2024, BoC's non-performing loan ratio decreased to 2.5%, reflecting its effectiveness in asset quality management.
Liquidity Coverage Ratio: The BoC's liquidity coverage ratio is 309%, which is well above regulatory requirements, indicating its robustness in terms of liquidity management.
Deposit & Loan Products
Deposits: BoC offers a variety of time deposit products with interest rates based on maturity and amount. For example, the interest rate on a traditional time deposit is 0.08%, while the interest rate for a flexible time deposit is 0.12%.
Loans: BoC offers a variety of loan products, including home loans, car loans, and personal loans. For example, the interest rate on a home loan starts from 2.85%, depending on the loan term and the customer's credit profile. CBN's
list of common expenses
BoC offers preferential policies for different customer groups:
student account (18-25 years old): no account management fee, free euro debit card, support international ATM withdrawals.
Senior Accounts (over 65 years old): No account management fee, free cheque book and counter withdrawals.
Digital Service
ExperienceBoC's mobile banking app has received good user reviews on both the App Store and Google Play, with a rating of 3.9.
Its core features include:
biometric login (e.g. fingerprint and facial recognition),
real-time account balance and transaction notifications
, bill payment and transfer services
Investment tools and financial management featuresIn
addition, the BoC offers an online chat and call-back service to enhance the customer service experience.
Customer Service
QualityBoC's customer service center is available from 07:45 to 18:00 on weekdays (Monday to Friday) and from 09:00 to 17:00 on weekends (Saturday and Sunday).
Customers can contact the bank through multiple channels such as phone, live chat, and social media for support and issues.
Security
MeasuresBoC uses a variety of security measures to protect client funds and data, including:
real-time transaction monitoring and anti-fraud technology
, a data security management system in accordance with the ISO 27001 standard
Multi-factor authentication and encrypted communication
to form the BoC's security line and ensure the financial security of its customers.
Featured Services & DifferentiationBoC
is committed to meeting the needs of different customer groups and providing a variety of featured services:
green financial products: providing green housing loans, supporting environmentally friendly buildings and renewable energy projects.
High Net Worth Client Services: Customised wealth management and investment advisory through PrivilEDGE Private Banking.
Market Position & AccoladesBoC
occupies a leading position in the Cypriot banking sector and has received several accolades internationally:
named "Best Digital Bank in Cyprus" by Global Finance magazine in 2023 and " Best Mobile Banking App for Consumers".
In March 2025, international rating agency Fitch upgraded the BoC's credit rating to "BBB-" with a positive outlook, reflecting its solid financial position and good risk management capabilities.
