Bank of Cyprus

Stock performance

History

Bank of Cyprus was founded in the late nineteenth century and grew into the largest bank in Cyprus, before suffering a severe crisis during the country's 2012-2013 banking and sovereign-debt crisis, which forced an unprecedented restructuring involving the bail-in of large uninsured depositors, one of the most dramatic banking-sector events in the eurozone crisis era.

Business model

Bank of Cyprus provides retail, corporate, and investment banking services across Cyprus, having rebuilt its balance sheet and reputation in the years following its 2012-2013 crisis-era restructuring and bail-in.

Market position

Bank of Cyprus is the largest bank in Cyprus by assets, having emerged as the dominant surviving institution following the 2012-2013 crisis that led to the closure of several other major Cypriot banks.

Country impact

Bank of Cyprus is the largest financial institution in Cyprus, and its 2012-2013 bail-in remains one of the most significant and closely studied episodes of the broader eurozone sovereign-debt crisis, reshaping both Cypriot banking regulation and eurozone crisis-resolution policy more broadly.