The Bank of Cyprus Group was established in 1899 as a major banking and financial services group in Cyprus. It provides a variety of financial products and services, and currently has a total of 377 branches. Bank of Cyprus has opened a total of 6 representative offices in Russia, Ukraine, China and South Africa. Faced with the growing economic crisis and the consequences of the Euro Group’s decision, the Bank of Cyprus has defined its own strategy, business model, and risk appetite in order to provide the best service to customer needs and make for the recovery of the Cyprus economy contribution.

The EU-China Commission is now seeking suitable strategic partners to jointly develop and acquire the Cyprus Bank project.After preliminary negotiations, the two sides reached a basic consensus on jointly establishing a special-purpose fund to implement the merger and acquisition of the target company.The target company is a long-standing and largest comprehensive financial institution in Cyprus. It plays a pivotal role in the Cyprus economy. Therefore, the target company is a very rare opportunity. Its merger value and integration synergy are in the interest of both parties.