EU-wide Transparency Exercise 2023

Bank of Cyprus Holdings PLC

13 December 2023

 

Announcement

EU-wide Transparency Exercise 2023

Nicosia, 13 December 2023

Group Profile

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. At 30 September 2023, the Bank of Cyprus Group operated through a total of 64 branches in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group employed 2,913 staff worldwide. At 30 September 2023, the Group's Total Assets amounted to €26.4 bn and Total Equity was €2.4 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.

Bank of Cyprus Holdings Public Limited Company (together with Bank of Cyprus Public Company Limited, the "Bank", and its subsidiaries, the "Group") notes the announcements made on Tuesday 12 December 2023 by the European Banking Authority (EBA) and the European Central Bank (ECB) regarding the information of the 2023 EU-wide Transparency Exercise and fulfilment of the EBA Board of Supervisors' decision.

The outcome of the exercise related to the Group can be found in the annexes on the EBA website.

Background of EU-wide Transparency Exercise

The EBA Board of Supervisors approved the package for the EU-wide Transparency Exercise, which since 2016 is performed on an annual basis and published along with the Risk Assessment Report (RAR). The annual transparency exercise will be based solely on COREP/FINREP data on the form and scope to assure a sufficient and appropriate level of information to market participants.

The templates were centrally filled in by the EBA and sent afterwards for verification by banks and supervisors. Banks had the chance to correct any errors detected and to resubmit correct data through the regular supervisory reporting channels, and to add specific information as required to further clarify individual data.

 

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