According to an announcement by the bank, “the milestone was marked by the traditional ringing of the bell, symbolising the start of the trading session”. In addition, the bank said that “this return to the Athens Stock Exchange is a significant step in the bank’s 125-year history, aligning with its long-term growth strategy”. “The move”, the bank continued, “aims to create value for shareholders and clients while boosting the bank’s visibility among a broader base of institutional and private investors”.

The launch event was attended by several key figures, including Takis Arapoglou, chairman of the Bank of Cyprus’ board of directors, Panicos Nicolaou, CEO of the bank, Eliza Livadiotou, executive director of finance, and Yianos Kontopoulos, CEO of the ATHEX Group. Other notable attendees included Vasiliki Lazarakou, president of the Hellenic Capital Market Commission, as well as other bank executives and guests.

Speaking at the event, Arapoglou emphasised the benefits of the bank’s decision to transfer its shares to ATHEX. “We believe that this move will increase our stock’s liquidity by attracting the attention of more analysts and investors,” Arapoglou said. “It will also make our shares more comparable to other banks with similar business models in Southeastern Europe,” he added. What is more, Arapolou said that “a key recognition of our progress is the approval from supervisory authorities to distribute dividends for two consecutive years, with the dividend amounting to 30 per cent of our 2023 profits”.

He further highlighted ATHEX as a mature European stock exchange that “aligns with Greece’s steady economic growth”, before expressing gratitude to the exchange’s management for the support they provided to the bank. 

Finally, the announcement pointed out that “the Bank of Cyprus will continue to be listed on the Cyprus Stock Exchange (CSE), maintaining its role as a key pillar in the country’s economic development”.