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12° Nicosia,
24 June, 2024
 
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Bank of Cyprus woos investors at London conference

Officials from the bank held one on one meetings with potential investors last week at the Merrill Lynch conference in London

Panayiotis Rougalas

Panayiotis Rougalas

Last week, the Bank of Cyprus launched a series of engagements with investors, with a particular focus on attracting new stakeholders. This initiative took place during the BofA Merrill Lynch conference, notably at the Annual Financials CEO Conference held in London from last Tuesday to Thursday. Bank of Cyprus executives held confidential meetings with members of the investment community, providing insights into the bank's equity performance.

During these sessions, the investment community's interest extended beyond the bank's recent trajectory and achievements. They also delved into the broader landscape of the Cypriot economy. Feedback from the international community regarding the Bank of Cyprus was overwhelmingly positive, indicating optimism for both the bank and the Cypriot economy.

Bank of Cyprus anticipates that its forthcoming actions will resonate positively with the international investment community. This encompasses potential investments in shares and participation in upcoming bond issuances. While a bond issue for 2023 may not be an immediate priority, post-2024 plans are under consideration, in line with industry trends.

According to an insider identified as "K," the nature of investor inquiries marked a departure from the past. Questions no longer revolved around the level of non-performing loans and their management, thanks to improved metrics. Instead, the investment community sought insights into the bank's strategies for handling problematic borrowers and preventing the emergence of new non-performing loans. Additionally, queries arose regarding the competitive landscape among Cyprus banks and the Bank of Cyprus' future initiatives.

In essence, the Bank of Cyprus gauged international investment interest during the conference. Attendees included insurance and investment funds, while the bank was represented by CEO Panicos Nicolaou, Executive Director of Financial Management Ms. Elise Livadiotou, and Director of Investor Relations Ms. Anita Pavlou. Each investor had a dedicated 45-minute session to delve into the bank's narrative and address inquiries.

[This article was translated from its Greek original]

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Cyprus  |  UK  |  banks  |  economy

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