The presence in Cyprus of the biggest and most powerful financial services Group in Greece, the Balkans and South-Eastern Europe, the National Bank, dates since 1910. At a later stage it expanded in Nicosia and Famagusta and later on in all cities of the Island. With its presence on the Island the Bank played a significant financial, cultural but also a national role during the British rule, as we
ll as after the Independence, reinforcing even more the already existing links between Greece and Cyprus. In the period that followed until 1972 the Branch network here was being developed in a satisfactory way and during this year it held the second place amongst the Banks that were operating in Cyprus, playing a very important role in the growth of the economy of the country and the support of the activities of many important businesses. Year 1993 was a milestone in the course of the National Bank in the Cyprus Market, when the Branch Network here was converted into a local Bank the share capital of which belongs exclusively to the National Bank of Greece. Athens “endowed” the newly established National Bank of Greece (Cyprus) with a very high amount of capital for its further operation and it offered powerful support for the setting up and creation of positive perspectives for its development. Now and due to the recent appointment of the New Management in Cyprus the Bank is under reorganization and development in the framework of the activities of the Group of the National Bank which is undergoing a dynamic development and constantly reinforcing its International presence. We outline that the Group today has:
660 Branches
17700 Staff
The share of the National Bank is listed on the Athens Stock Exchange in which it has by far the first place as to capitalization and it is also listed on the New York Stock Exchange since October 1999. On the basis of the Business Plan that shall be soon completed by the Management, the Bank aims at a dynamic development of its operations and a selective enlargement of its Network. The constant improvement of the services it offers to its customers as well as the provision of new services holds an important place in the strategy of the Bank. In Cyprus it has 9 Branches in all cities, and its staff is 250 people. Since the beginning of 2000 the seat of the Management of the National Bank in Cyprus is the renovated building (former “Lysioti”) at the Makarios Avenue in Nicosia.
