Bank of Cyprus – Ratings Affirmed with a Stable Outlook

5 December 2025

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Bank of Cyprus (BoC or the Bank) at ‘BBB’ and ‘A3’, respectively. At the same time, CI Ratings has affirmed BoC’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘bbb’ and Extraordinary Support Level (ESL) of Uncertain. The Outlook for the LT FCR and BSR is Stable.

The affirmation of the LT FCR reflects the Bank’s now stable operational footing underpinned by long-standing structural strengths (a strong domestic franchise, a stable funding base, and high liquidity) and anchored by the stabilisation of key financial metrics (relating to asset quality, capitalisation and profitability) at good levels. The Bank’s LT FCR is aligned with the BSR, as it remains uncertain whether extraordinary support would be forthcoming from the…