The European Bank for Reconstruction and Development (EBRD) has exited the Bank of Cyprus by selling its entire 5% stake.
The shares – 22,401,744 in number had been offered via accelerated bookbuild on the Athens Stock Exchange (ATHEX).
The Bank of Cyprus received its first investment from the EBRD in 2014 for stabilizing and restructuring itself while navigating the EU’s downturn and the financial crisis worldwide.
Since then, the Bank of Cyprus has become profitable once again. Its ratio of non-performing loan exposure has gone down from 60% to 2.5%. In 2023-2024, it averaged 20% return on equity.
EBRD selling its stake shall serve to help the Bank of Cyprus increase its liquidity on the ATHEX.
Kristina Zagar, the Director of European Union Banks & Structured Finance of EBRD has saif that they are very proud to have aided the Bank of Cyprus for over a decade as it navigated ups and downs. Since their strategic investment, the Bank of Cyprus has managed to tighten its credit process and reestablished itself as a reliable lending partner. Now it has also re-listed on ATHEX – even after being delisted from London – which demonstrates the bank’s transformation arc.
The EBRD originally made an investment of €600 million in the island nation for the period of 2014-2020, mainly to help the financial sectors recover themselves.
EBRD exits Bank of Cyprus
