ΤΡΑΠΕΖΑ ΚΥΠΡΟΥ Δ.Ε.Λ.
Announcement
Renewal of Contracts of Top Executive Management of the Bank of Cyprus Group
The Board of Directors of Bank of Cyprus Public Company Ltd decided to renew the contracts of employment of Messrs Andreas Eliades, Group Chief Executive Officer and Yiannis Kypri, Group Chief General Manager until 31 December 2013. The new contracts have a five year duration and are effective as of 1st January 2009. Messrs Eliades and Kypri assumed their current positions on 1st January 2005.
The basic principles relating to the payment of bonus of the new contracts have been amended so as to be aligned with the relevant Directives of the European Union and the Committee of European Banking Supervisors.
The Chairman of the Board of Directors of the Group, Mr Theodoros Aristodemou, stated that the unanimous decision of the Board of Directors to renew the contracts of Messrs Eliades and Kypri denotes its appreciation for the work performed by the Top Executive Management which has led to the good results of the past years. During this period, the successful implementation of the Group's strategic goals by the Top Executive Management has led the Group on a course of steady growth and has contributed to its development into a powerful regional banking institution in Cyprus, Greece and South Eastern Europe and has effectively shielded it from the international economic crisis.
Founded in 1899, the Bank of Cyprus Group is the leading Cypriot banking and financial services group. In addition to retail and commercial banking, the Group's activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 590 branches, of which 224 operate in Russia, 163 in Greece, 146 in Cyprus, 33 in Ukraine, 10 in Australia, 9 in Romania, 4 in the United Kingdom, and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Canada, South Africa and Ukraine. The Bank of Cyprus Group employs 11.999 staff worldwide.
At 31 March 2009, the Group's Total Assets reached euro 36,33 bn and the Shareholders Funds were euro 2,02 bn. The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found at the Group's website www.bankofcyprus.com
The Board of Directors of Bank of Cyprus Public Company Ltd decided to renew the contracts of employment of Messrs Andreas Eliades, Group Chief Executive Officer and Yiannis Kypri, Group Chief General Manager until 31 December 2013. The new contracts have a five year duration and are effective as of 1st January 2009. Messrs Eliades and Kypri assumed their current positions on 1st January 2005.
The basic principles relating to the payment of bonus of the new contracts have been amended so as to be aligned with the relevant Directives of the European Union and the Committee of European Banking Supervisors.
The Chairman of the Board of Directors of the Group, Mr Theodoros Aristodemou, stated that the unanimous decision of the Board of Directors to renew the contracts of Messrs Eliades and Kypri denotes its appreciation for the work performed by the Top Executive Management which has led to the good results of the past years. During this period, the successful implementation of the Group's strategic goals by the Top Executive Management has led the Group on a course of steady growth and has contributed to its development into a powerful regional banking institution in Cyprus, Greece and South Eastern Europe and has effectively shielded it from the international economic crisis.
Founded in 1899, the Bank of Cyprus Group is the leading Cypriot banking and financial services group. In addition to retail and commercial banking, the Group's activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 590 branches, of which 224 operate in Russia, 163 in Greece, 146 in Cyprus, 33 in Ukraine, 10 in Australia, 9 in Romania, 4 in the United Kingdom, and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Canada, South Africa and Ukraine. The Bank of Cyprus Group employs 11.999 staff worldwide.
At 31 March 2009, the Group's Total Assets reached euro 36,33 bn and the Shareholders Funds were euro 2,02 bn. The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found at the Group's website www.bankofcyprus.com