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REG - Bank of Cyprus Hldgs - 2023 Pillar 3 Disclosures

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RNS Number : 4743J  Bank of Cyprus Holdings PLC  05 April 2024




Pillar 3 Disclosures for the year ended 31 December 2023



Nicosia, 05 April 2024




Bank of Cyprus Holdings Public Limited Company (the "Company" or "BOC
Holdings" and, together with its subsidiary, Bank of Cyprus Public Company
Limited (the "Bank"), and the Bank's subsidiaries, the "Group"), announces
today the publication of its Pillar 3 Disclosures for the year ended 31
December 2023 (the "Pillar 3 Report").


A copy of the Pillar 3 Report will be submitted to the National Storage
Mechanism and will be available for inspection at
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .


The Pillar 3 Report is also available on the Group's website
www.bankofcyprus.com (http://www.bankofcyprus.com) (Group/Investor Relations).


For further information, please contact Investor Relations at
investors@bankofcyprus.com (mailto:investors@bankofcyprus.com) .



Forward Looking Statements


This document contains certain forward-looking statements which can usually be
identified by terms used such as "expect", "should be", "will be" and similar
expressions or variations thereof or their negative variations, but their
absence does not mean that a statement is not forward-looking. Examples of
forward-looking statements include, but are not limited to, statements
relating to the Group's near term, medium term and longer term future capital
requirements and ratios, intentions, beliefs or current expectations and
projections about the Group's future results of operations, financial
condition, expected impairment charges, the level of the Group's assets,
liquidity, performance, prospects, anticipated growth, provisions,
impairments, business strategies and opportunities. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
events, and depend upon circumstances, that will or may occur in the future.
Factors that could cause actual business, strategy and/or results to differ
materially from the plans, objectives, expectations, estimates and intentions
expressed in such forward-looking statements made by the Group include, but
are not limited to: general economic and political conditions in Cyprus and
other European Union (EU) Member States, interest rate and foreign exchange
fluctuations, legislative, fiscal and regulatory developments, information
technology, litigation and other operational risks, adverse market conditions,
the impact of outbreaks, epidemics or pandemics and geopolitical developments.
This creates significantly greater uncertainty about forward-looking
statements. Should any one or more of these or other factors materialise, or
should any underlying assumptions prove to be incorrect, the actual results or
events could differ materially from those currently being anticipated as
reflected in such forward-looking statements. The forward-looking statements
made in this document are only applicable as at the date of publication of
this document. Except as required by any applicable law or regulation, the
Group expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statement contained in this
document to reflect any change in the Group's expectations or any change in
events, conditions or circumstances on which any statement is based. Changes
in our reporting frameworks and accounting standards, including the recently
announced reporting changes and the implementation of IFRS 17 'Insurance
Contracts', which may have a material impact on the way we prepare our
financial statements and (with respect to IFRS 17) may negatively affect the
profitability of Group's insurance business.





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 31
December 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 2,830 staff worldwide. At 31 December 2023, the Group's Total
Assets amounted to €26.6 bn and Total Equity was €2.5 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.


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