# Bank of Cyprus (BoC)

> Source: https://docs.barcoder.ai/docs/wallets/bank-of-cyprus
> research date 2026-05-30 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Bank of Cyprus — official](https://www.bankofcyprus.com.cy/)

## Overview

**Bank of Cyprus (BoC)** is **the largest banking and financial services group in Cyprus** + **serves approximately 83% of Cypriot population (largest bank by market penetration)** + **40% overall banking sector share + 60% total corporate accounts** <sup>[1][1], [2][2], [Cyprus report](https://docs.barcoder.ai/docs/payments/CY)</sup>. **December 2025 baseline**: **BoC Mobile App 504K active digital customers + 469K active BoC Mobile App users (Sep 30 2025) + 10,461 new users added in Dec 2025 + QuickPay 249K active users + 881K transactions totalling €101.1M Dec 2025**.

**Distinctive Bank of Cyprus positioning** <sup>[1][1], [3][3]</sup>:
- **Largest banking + financial services group in Cyprus** by market penetration (83% of Cypriots have active BoC accounts)
- **40% overall Cypriot banking sector share** + **60% total Cypriot corporate accounts**
- **504K active digital customers + 469K active BoC Mobile App users (Sep 30 2025)**
- **QuickPay**: 249K active users + 881K Dec 2025 transactions totalling €101.1M — distinctive Cypriot P2P payment service
- **Bank of Cyprus also dual-listed on Cyprus Stock Exchange (CSE: BOCH) + London Stock Exchange (LSE: BOCH)** — distinctive Cypriot-UK dual listing

## History

**1899 — Bank of Cyprus founded** in Nicosia, Cyprus — distinctive Cypriot banking heritage.

**2013 — Cypriot banking crisis** — Cyprus Popular Bank (Laiki Bank) collapsed + Bank of Cyprus rescued via €10B EU/IMF bailout (distinctive depositor bail-in haircuts on >€100K Cypriot deposits).

**2017 — Bank of Cyprus moved primary listing to London Stock Exchange (LSE: BOCH)** + maintained CSE listing — distinctive Cypriot-UK dual listing.

**2010 — Bank of Cyprus mobile banking app launches**.

**2025 — Sep 30**: 499K active digital users including 469K BoC Mobile App users; **Dec 2025**: 504K active digital customers + QuickPay 249K active users + 881K Dec 2025 transactions totalling €101.1M <sup>[1][1], [3][3]</sup>.

## Ownership & operator

**Operating entity**: **Bank of Cyprus Holdings** (CSE: BOCH; LSE: BOCH).

**Major shareholders**: **Various international institutional + CSE + LSE public float** (widely held post-Cypriot 2013 banking crisis bail-in restructuring).

**Regulators**: **CBC (Central Bank of Cyprus) + ECB**.

## Technical integration

BoC Mobile App (iOS + Android; 469K active users Sep 30 2025; 504K active digital customers Dec 2025) + BoC 1bank Internet Banking + BoC cards (Visa + Mastercard) + BoC branch network + **QuickPay distinctive Cypriot P2P payment service** (249K active users + 881K transactions totalling €101.1M Dec 2025); SEPA Instant; Bank of Cyprus business digital solutions ("no need to visit a branch" per Bank of Cyprus CEO Panicos Nicolaou).

## Users & growth

**2025**: 504K active digital customers + 469K active BoC Mobile App users + QuickPay 249K active users + 881K Dec 2025 transactions €101.1M; 83% of Cypriot population BoC accounts; 40% overall banking sector share; 60% total Cypriot corporate accounts.

## Use cases

Cypriot retail + corporate + investment + insurance banking via BoC Mobile App + BoC 1bank Internet Banking + cards + branches + **QuickPay Cypriot P2P payment service** (distinctive); SEPA Instant; Bank of Cyprus business digital solutions.

## Implementations & partners

**Operator**: Bank of Cyprus Holdings (CSE: BOCH; LSE: BOCH).

**Major Cypriot banking competitors**: Hellenic Bank (Cyprus 2nd largest bank) + Astrobank + AstroBank + Eurobank Cyprus (Eurobank Greece subsidiary covered separately) + Alpha Bank Cyprus (Alpha Bank Greek subsidiary) + Russian Commercial Bank (RCB Bank Cyprus).

**Regulators**: CBC + ECB.

## Fun facts

- **Largest banking + financial services group in Cyprus** + **83% of Cypriot population uses Bank of Cyprus** + **40% overall Cypriot banking sector share + 60% total Cypriot corporate accounts**.
- **BoC Mobile App 469K active users (Sep 30 2025) + 504K active digital customers (Dec 2025)**.
- **QuickPay distinctive Cypriot P2P payment service**: 249K active users + 881K Dec 2025 transactions totalling €101.1M.
- **1899 founding** in Nicosia, Cyprus — distinctive Cypriot banking heritage.
- **2013 Cypriot banking crisis bail-in restructuring**: €10B EU/IMF bailout + distinctive depositor bail-in haircuts on >€100K Cypriot deposits; Cyprus Popular Bank (Laiki Bank) collapsed.
- **2017 Bank of Cyprus primary listing moved to LSE** + maintained CSE listing — distinctive Cypriot-UK dual listing.

## Comparison

| Feature | Bank of Cyprus | Hellenic Bank (Cyprus 2nd largest bank rival) | Eurobank Cyprus ([Eurobank (v-Banking + EVA virtual assistant)](https://docs.barcoder.ai/docs/wallets/eurobank) Greek subsidiary) | Alpha Bank Cyprus ([Alpha Bank (myAlpha + UniCredit partnership)](https://docs.barcoder.ai/docs/wallets/alpha-bank) Greek subsidiary) | [NBG (National Bank of Greece) Mobile Banking](https://docs.barcoder.ai/docs/wallets/nbg-greece) (Greek systemic bank comparable Mediterranean banking heritage) |
|---|---|---|---|---|---|
| Operator | **Bank of Cyprus Holdings (CSE: BOCH; LSE: BOCH)** | Hellenic Bank (CSE: HB) | Eurobank Cyprus (Eurobank Greece subsidiary) | Alpha Bank Cyprus (Alpha Bank Greek subsidiary) | National Bank of Greece S.A. (ATHEX: ETE) |
| Type | **Largest Cypriot bank + 83% of Cypriot population + 40% banking sector share + 60% corporate accounts + QuickPay Cypriot P2P payment service** | Cyprus 2nd largest bank | Eurobank Greek subsidiary | Alpha Bank Greek subsidiary | Greece's oldest commercial bank since 1841 |
| Country | Cyprus | Cyprus | Cyprus | Cyprus | Greece + 12+ countries |
| Distinctive | **1899 founding in Nicosia Cyprus; 2013 Cypriot banking crisis bail-in restructuring (€10B EU/IMF bailout + depositor bail-in haircuts >€100K); 2017 LSE primary listing + CSE dual listing; QuickPay distinctive Cypriot P2P; 469K active mobile app users (Sep 30 2025); 504K active digital customers (Dec 2025)** | Cyprus 2nd largest bank | Eurobank Greek subsidiary | Alpha Bank Greek subsidiary | Mar 30 1841 founding in Athens (Greece's oldest commercial bank) |

## Status

**Active, largest Cypriot bank with 83% market penetration + 40% overall banking sector share** <sup>[1][1], [3][3]</sup>:
- **Bank of Cyprus Holdings** (CSE: BOCH; LSE: BOCH) since 1899 (Nicosia founding).
- **2013 Cypriot banking crisis bail-in restructuring** + 2017 LSE primary listing.
- **BoC Mobile App 469K active users + QuickPay 249K active users**.
- **CBC + ECB regulated**.

## Sources

[1]: https://en.wikipedia.org/wiki/Bank_of_Cyprus "Bank of Cyprus — Wikipedia"
[2]: https://www.bankofcyprus.com.cy/ "Bank of Cyprus — official"
[3]: https://www.cbn.com.cy/article/121368/panicos-nicolaou-bank-of-cyprus-now-has-digital-solutions-for-businesses-too-there-is-no-need-to-visit-a-branch "Panicos Nicolaou: Bank of Cyprus now has digital solutions for businesses too — CBN"
[4]: https://cyprus-mail.com/2026/04/09/digital-banking-in-cyprus-is-the-new-normal "Digital banking in Cyprus is the new normal — Cyprus Mail"
[cy-cro]: https://docs.barcoder.ai/docs/payments/CY

- [1] [Bank of Cyprus — Wikipedia][1]
- [2] [Bank of Cyprus — official][2]
- [3] [Panicos Nicolaou: Bank of Cyprus has digital solutions for businesses too — CBN][3]
- [4] [Digital banking in Cyprus is the new normal — Cyprus Mail][4]
- <sup>[Cyprus report](https://docs.barcoder.ai/docs/payments/CY)</sup> In-corpus: `reports/countries/CY-cyprus.md`

## Source

Biography extracted from [bank-of-cyprus.md](https://docs.barcoder.ai/source/wallets/bank-of-cyprus). See `matrix.md` for standards-support matrix if present.