Blog
S&P expects improved efficiency and profitability for Bank of Cyprus
April 26, 2023
International credit rating agency S&P Global Ratings (S&P) on Wednesday upgraded the Bank of Cyprus and revised its outlook from stable to positive, citing the bank’s diversified business model and the reduced financial risks for the entire banking system in the country.
In the same rating action, the agency confirmed the long-term and short-term ratings of the Bank of Cyprus at ‘BB-‘ and ‘B’, respectively.
In addition, S&P upgraded the ratings of various Greek banks, including the National Bank, Piraeus Bank, Eurobank, Alpha Bank, and Aegean Baltic.