BOCHGRFinancial Services · Banks - Regional · ΧΑ

Bank of Cyprus

€10.14

−0.37(−3.52%)

Close 08/10/2026 · end-of-day price, not real-time

Bank of Cyprus (BOCHGR) closed at €10.14 on 08/10/2026, -3.52% on the day. Market cap €4.6bn, P/E 9.30, dividend yield 7.30%.

My view

Private · MENTOR takes it into account

+18.7%6M

08/10/2026Close 10.14−3.52%Vol 1.1m+18.7% since start

Valuation

Peers: 5

Metric	BOCHGR	Peer median
P/E	9.3	14.2
P/E (forward)	9.8	10.7
P/B	1.7	1.5
P/S	4.5	5.8
Dividend yield	7.3%	2.7%
Payout ratio	61.5%	0.0%
Operating margin	60.1%	59.7%
Net margin	48.5%	43.0%
ROE	17.3%	12.1%
Revenue growth (quarter, y/y)	7.1%	9.1%
Net debt	−€8.3bn	−€348.4m

Twelve Data · latest quarter 30/06/2026

Same industry: Banks - Regional

P/BDay

EurobankEUROB1.5−3.7%National Bank of GreeceETE1.7−3.1%Piraeus BankTPEIR1.3−3.8%

Bank of CyprusBOCHGR1.7−3.5%

Optima BankOPTIMA3.2−5.2%CrediaBankCREDIA1.5−4.6%

The company

AI-drafted

Bank of Cyprus is Cyprus's largest banking group. It lends €11.3bn to households and companies, funds itself with €22.8bn of customer deposits, and earns fees from insurance, cards and payments. The listed parent, Bank of Cyprus Holdings, is incorporated in Ireland and trades on the Athens Exchange and the Cyprus Stock Exchange.

How it makes moneyH1 2026 · basis: other

Retail³(business-line split of total operating income, not a product split)39%
IBU & International corporate³18%
Corporate³14%
Treasury³11%
SME³6%
Insurance³6%
Payment services³3%

It is

A deposit-rich bank: €22.8bn of deposits against €11.3bn of net loans, a 50% loans-to-deposits ratio.¹
An integrated bank, insurer and payments processor: insurance and JCC produced 9% of business-line income in H1 2026.³

It is not

Not a Greek bank: 88% of loans and 82% of deposits are Cypriot, and Greece is a branch operation in run-down.²
Not a bad-debt story any more: the NPE ratio is 1.0% with 149% coverage, after the Helix 2 and Helix 3 portfolio sales.^1,6
No longer London-listed: it left the LSE in September 2024 and moved to the Athens Exchange.¹

Recent developmentsAll company events →

Aug 2026Interim dividend of €0.24 per share declared, about €105m, payable in October 2026.¹
May 2026Issued €300m of senior preferred notes at a 3.875% coupon and called the 2027 senior notes early.¹
Mar 2026Agreed to buy about €150m of performing loans and €500m of deposits from The Cyprus Development Bank, completing in H2 2026.⁷
Mar 2026Distribution policy raised to a 50-70% payout range from 30-50%, targeting up to 100% total payout a year in 2027-2028.¹
Jul 2025Acquired 100% of Ethniki Insurance Cyprus for €29.3m and merged it into EuroLife and General Insurance.²
Sep 2024Delisted from the London Stock Exchange and admitted to the Main Market of the Athens Exchange.¹

Key figures

CET1 ratio 20.9% Jun 2026¹
NPE ratio 1.0% Jun 2026¹
Net interest income €369m H1 2026¹
Customer deposits €22.8bn Jun 2026¹
Return on tangible equity 18.8% H1 2026¹

Key facts

57 branches in Cyprus and 517,000 active digital-channel users, with 2,839 employees at 30 June 2026.^1,4
Domestic market shares of 47% of loans and 39% of deposits, plus first place in life insurance and in payments through JCC.⁵
Lamesa Investments was the largest notified holder at 9.50% on 11 March 2026.²
A FY2025 dividend of €0.70 per share, €305m in total, a 9% yield on the end-2025 share price.¹
The 2026-2028 plan targets a mid-teens return on tangible equity and CET1 converging towards 15% from 20.9%.²

Sources

1.Group Financial Results for the six months ended 30 June 2026Bank of Cyprus Holdings · 04/08/2026official
2.Annual Financial Report 2025Bank of Cyprus Holdings · 31/03/2026official
3.Interim Report 2026 and interim condensed consolidated financial statementsBank of Cyprus Holdings · 04/08/2026official
4.1H2026 Group Financial Results presentationBank of Cyprus Holdings · 04/08/2026official
5.Investor Update presentationBank of Cyprus Holdings · 03/03/2026official
6.Annual Financial Report 2023Bank of Cyprus Holdings · 28/03/2024official
7.Agreement for the Acquisition of Performing Loans and Deposits of The Cyprus Development BankBank of Cyprus Holdings · 23/03/2026official

AI-drafted from the cited sources · 30/09/2026 · v2 · ✓ checked by an independent second modelBank of Cyprus Holdings PLCWebsite ↗

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Why it moved

-3.52% · volume 1.4×

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Peers

5 listed peers

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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.