Bk. Cyprus Hldg Regulatory News (BOCH)

Announcement

Change in the composition of the Board Committees

Nicosia, 27 October 2022

Bank of Cyprus Holdings Public Limited Company ("BOC Holdings" and, together with its subsidiaries, the "Group"), and Bank of Cyprus Public Company Limited (the "Bank") announce that Mr Ioannis Zographakis has completed nine (9) years as a member of both Boards of Directors and is no longer considered independent, in accordance with the CBC Internal Governance Directive for Credit Institutions of 2021. 

The Boards at their respective meetings held on 26 October 2022, decided to appoint Mr Constantine Iordanou as Senior Independent Director in place of Mr Ioannis Zographakis, and Mrs Paula Hadjisotiriou as Chair of the Risk Committee. Mr Ioannis Zographakis will continue to serve on both Boards as a non-independent member.

The new composition of the Risk Committee, Audit Committee and Technology Committee of the Board as of this date, is as follows:

Risk Committee

Paula Hadjisotiriou (Chair)

Nicolaos Sofianos

Constantine Iordanou

Audit Committee

Nicolaos Sofianos (Chair)

Arne Berggren

Paula Hadjisotiriou

Technology Committee

Lyn Grobler (Chair)

Ioannis Zographakis

Arne Berggren

Paula Hadjisotiriou

The composition of the following Committees of the Board remains the same:

Nominations & Corporate Governance Committee

Takis Arapoglou (Chair)

Arne Berggren

Lyn Grobler

Maria Philippou

Human Resources & Remuneration Committee

Maria Philippou (Chair)

Lyn Grobler

Constantine Iordanou

Ethics, Conduct & Culture Committee

Ioannis Zographakis (Chair)

Maria Philippou

Group Profile

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. At 30 June 2022, the Bank of Cyprus Group operated through a total of 86 branches in Cyprus, of which 11 operated as cash offices*. At 30 June 2022, the Group's Total assets amounted to €25.8 bn and Total equity was €2.1 bn. The Bank of Cyprus Group employed 3,422 staff worldwide**. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.

\* The number of branches and cash offices were reduced by 15 and 7 respectively on 1 July 2022.

** The number of staff has been reduced by c.550 employees following the completion of a voluntary staff exit plan in July 2022.