A prime mover in the country’s financial system, and indeed one of its mainstays, Cyprus Cooperative Bank (CCB) stands on the cusp of a major expansion drive that will see the bank debut on the stock exchange as it raises fresh capital to underwrite growth and the further development of its business. A number of prestigious global investment banks in Paris, Frankfurt, and London have already expressed an interest in helping CCB structure its highly-anticipated IPO.
Cyprus Cooperative Bank was set up in 1937 as a central bank to the country’s cooperative credit societies. As such, CCB was instrumental in driving national development, meeting the short-term borrowing needs of the farming community via the associated credit coops. Now a full-service bank, and Cyprus’ largest financial services provider, CCB remains true to its heritage by engaging with all sectors of society in order to gauge demand and identify opportunity.
CCB is a major player in the International Co-operative Alliance (ICA) which brings together and represents coop movements from around the globe. Founded in 1895, ICA is today the largest non-governmental organisation in the world. Through its international contacts Cyprus Cooperative Bank sources innovative solutions and expertise that enables the bank to continuously update and upgrade its products and services, ensuring client satisfaction and maximising the social impact of the bank’s operations.
The CFI.co judging panel values CCB’s continued dedication to excellence in both operations and governance. For a second consecutive year, the judges wish to recognise the bank’s progress. The judging panel declares Cyprus Cooperative Bank winner of the 2017 Best Social Impact Bank Cyprus Award.