Bank of Cyprus finalist for European Business Award

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Beating stiff competition, The Bank of Cyprus Group will represent Cyprus as a finalist in The Growth Strategy of the Year category of the European Business Awards 2008. Europe‘s showcase of business talents and capabilities are unveiled today when the names of 60 individuals and organisations that will receive the accolade of Ruban d’Honneur in this year’s European Business Awards are announced.
Based on nine months research and hundreds of paper-based entries, the first-round judges short listed ten finalists in each of the six Award categories.
The Bank of Cyprus Group is the leading Cypriot banking and financial services group with a significant presence in Greece, branches in the UK, Australia, Romania, Russia and Channel Islands. In addition to retail and commercial banking, it provides finance, factoring, investment banking, brokerage, fund management, life and general insurance.
Bank of Cyprus (BOC) has achieved impressive growth rates and profitability since 2004. It has done so by being able to identify and grasp growth opportunities in its existing markets, as well as by targeting and entering new profitable geographic markets in which it enjoys competitive advantages. The improvement in the Bank’s financials since 2004 has been remarkable with consolidated profit after tax almost quadrupling between 2004 and 2006.
Adrian Tripp, Chief Executive of the European Business Awards congratulates the finalists: “I am very excited about skills, energy and ingenuity that our Ruban d’Honneur recipients have on display. These individuals and businesses demonstrate how even medium and large sized organisations can be agile and adaptable to rapidly changing markets. Our Ruban d’Honneur recipients are a great showcase of all that is good in European business.”
The Ruban d’Honneur recipients will now prepare to make their presentations in person before a further panel of expert judges that will include, many highly regarded, academics, senior business executives, industrialists, entrepreneurs and media commentators. The presentations will take place in the month of January 2008 in Paris and the judging panels will select an overall winner in each of the following categories:

* The CMS Business of the Year Award
* The Entrepreneur of the Year Award
* The Business Innovation of the Year Award
* The Growth Strategy of the Year Award
* The Société Générale Award for Customer Focus
* The Award for Corporate Sustainability
* The Business Leader of the Year Award (by nomination)
The recipients of the Ruban d’Honneur will be honoured and names of the winners of each of the categories announced on 11 March 2008 at the high profile Awards Ceremony held in the InterContinental Le Grand Paris in Paris and attended by Europe’s business and political elite including José María Aznar, former Prime Minister of Spain.
The European Business Awards is made possible by the commercial support of the following organisations: CMS Legal Services EEIG; Société Générale and The Wall Street Journal EuropeThe European Business Awards was set up in 2006 to recognise and reward excellence, best practice and innovation in companies across the European Union. Extensive research and high standards of judging quickly established the European Business Awards as the showcase of Europe‘s skills, achievements and innovations in the field of business.
The European Business Awards is a self funding venture set up and run with the support of forward thinking organisations ranging from: CMS Legal Services EEIG through to Société Générale and The Wall Street Journal Europe. Our supporters, from our sponsors to our advisory and judging panel members, believe it is right and important to promote and endorse business success throughout the European Union for our long term prosperity.
Uniquely open to organisations of all sizes and from any industry sector – public or private, the programme allows the best of European businesses to showcase their achievements and benchmark their successes against companies of all types.
*Images available upon request