EU-wide Transparency Exercise 2017

RNS Number : 5187X

Bank of Cyprus Holdings PLC

24 November 2017

 

	Announcement EU-wide Transparency Exercise 2017

Nicosia, 24 November 2017

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 today by the European Banking Authority ('EBA') and the Central Bank of Cyprus regarding the information of the EU-wide Transparency Exercise 2017 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 2017 EU-wide Transparency Exercise

At its meeting in May 2017, the EBA Board of Supervisors approved the package for the 2017 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.

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. The Bank of Cyprus Group operates through a total of 123 branches, of which 121 operate in Cyprus, 1 in Romania and 1 in the United Kingdom*. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,319 staff worldwide. At 30 September 2017, the Group's Total Assets amounted to €22.9 bn and Total Equity was €2.6 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 UK Ltd has re-designated 3 locations from Branches to Business Centres, whilst opening a further 4 Business Centres across the UK, as part of its ongoing geographic diversification strategy.

 

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