The Bank of Cyprus (BoC) is both equipped and willing to offer its full support to international investors seeking to invest their capital on the island, said John Hourica, Chief Executive Officer of BoC.
Addressing the Cyprus Investors Summit 2015, Hourican stated that the event comes at a crucial time for Cyprus, indeed a turning point for the recovery of the island’s economy.
Foreign direct inflows will play a crucial role in the continuing consolidation of the economy, he said.
“As the foremost leading financial services organization in the country, the Bank of Cyprus is well aware that the country’s economic recovery depends on how we managed – and continue to address – the direct consequences of the events of last March.”
As a key driver of the recovery, the bank intends on continuing to work towards a full recovery, he stated, confirming that the bank has the full support of the Cyprus Government.
“Our recapitalization, amounting to some €1 billion in fresh capital in August 2014, was confirmation of our commitment to this cause. It was the largest inflow of foreign direct investment in the island’s history thus far,” the CEO explained.
The bank attracted global investments, he continued, as steered the island’s largest lender on the recovery course. “Our investors, and the new composition of the Board of Directors of the Bank, are a clear indication of our commitment to the highest banking standards.”
Moreover, the bank’s recapitalisation has fully equipped BoC to support the investment projects presented throughout the Cyprus Investors Summit 2015, serving not only the economy of Cyprus, but also the individual investors’ efforts in obtaining a return on investment.
Published on 10 February, 2015