Panayiotis Rougalas
When the investment fund Lone Star Funds “courted” Bank of Cyprus in the summer of 2022, offering just under €2 per share, well above its market price at the time, it clearly saw potential. Fast forward to 2026, and that potential has more than materialized: the bank’s share price has soared past €9, marking a 15-year high.
On Monday, January 26, Bank of Cyprus shares closed at €9.08 on the Athens Stock Exchange and €8.96 on the Cyprus Stock Exchange. By Tuesday, January 27, they had risen further to €9.32 in Athens and €9.30 in Cyprus. That pushes the bank’s market value to around €4 billion, nearly doubling over the past year.
Looking at the numbers, the stock has jumped from a one-year low of €4.89 in Athens to €9.08, an increase of +84.9%. On the Cyprus exchange, the range was €4.91 to €9.02, up +87.5%. Even over the last three months, the bank’s shares gained more than 16.5%, with a similar rise over the past month. Bank of Cyprus has been listed on the Athens Stock Exchange for just over a year, making this surge even more striking.
The market is watching closely. With the bank’s strong performance and rising share price, whispers of potential investor interest and takeover speculation are bound to resurface. Any new moves by other banks to acquire a stake would reflect just how valuable the shares have become.
The bank’s financials underline the excitement. During the first nine months of 2025, key performance indicators exceeded the targets set in February 2025. As a result, Bank of Cyprus upgraded its Return on Tangible Equity (ROTE) targets for 2025 to high-teens percentages, compared with the mid-teens previously expected. Using a CET1 ratio of 15%, ROTE is projected to surpass 20% for the year.
The bank is also exploring small, complementary acquisitions to bolster its steady profitability and diversified business model. This strategy is expected to support strong shareholder returns going forward. Payout targets remain at the upper end of the policy range (50–70%), ensuring continued attractive dividend yields. Bank of Cyprus plans to update its strategic and financial targets during the first quarter of 2026.
*Read the Greek version here.
