Investor Presentaiton
D. Business Overview (continued)
Enhancing organisational resilience and ESG (Environmental, Social and Governance) agenda
(continued)
During 2022 in order to enhance the awareness and skillset towards the ESG, performed several trainings to the Board of
Directors, Senior Management and employees. In addition, the internal communication channels are enhanced by
establishing an ESG internal portal and launching Green@work which provides tips on energy efficiency actions at work.
Early in 2023 the Bank launched a campaign on new Visa Debit cards produced from recyclable plastic extracted from the
ocean. The campaign aims to inform the public on the level of water contamination from plastic and the impact on life below
water.
Social Pillar
At the centre of the Bank's leading social role lie its investments in the Bank of Cyprus Oncology Centre (with an overall
investment of c.€70 mn since 1998, whilst 60% of diagnosed cancer cases in Cyprus are being treated at the Centre), the
work of SupportCY Network, which developed in 2020, the contribution of the Bank of Cyprus Cultural Centre in promoting
the cultural heritage of the island, and the Work of IDEA Innovation Centre. The Cultural Centre undertook a number of
innovative projects such as «AISTHISEIS» - Multi sensory museum experience for people with disabilities and Faneromeni
arts Festival promoting youth. The IDEA Innovation Centre provided education to 7,000 entrepreneurs, invested c.€4 mn in
start-up business creation and supported creation of 82 new companies to date. Staff have continued to engage in voluntary
initiatives to support charities, foundations, people in need and initiatives to protect the environment.
The Bank has continued to upgrade its staff's skill set by providing training and development opportunities to all staff, and
capitalising on modern delivery methods. In 2022, the Bank heightened its emphasis on staff wellness by offering webinars,
team building activities and family events with sole purpose to enhance mental, physical, financial and social health,
attended by 1,424 employees through its 'Well at Work program'.
Governance Pillar
The Bank continues to operate successfully within a complex regulatory framework of a holding company which is registered
in Ireland, listed on two Stock Exchanges and run in compliance with a number of rules and regulations. Its governance
and management structures enable it to achieve present and future economic prosperity, environmental integrity and social
equity across its value chain. The Bank operates within a framework of prudent and effective controls, which enable risk
assessment and risk management based on the relevant policies under the leadership of the Board of Directors. The Bank
has set up a robust Governance Structure to oversee its ESG agenda. Progress on the implementation and evolution of
the Group's ESG strategy is monitored by the Sustainability Committee and the Board of Directors. The Sustainability
Committee is a dedicated executive committee set up in early 2021 to oversee the ESG agenda of the Group, review the
evolution of the Group's ESG strategy, monitor the development and implementation of the Group's ESG objectives and
the embedding of ESG priorities in the Group's business targets. The Group's ESG Governance structure will continue to
evolve, so as to better address the Bank's evolving ESG needs. The Bank's regulatory compliance continues to be an
undisputed priority.
The Board composition of the Company and the Bank is diverse, with 40% of the Board members being female as at 31
December 2022. The Board displays a strong skill set stemming from broad international experience. Moreover, the Bank
aspires to achieve a representation of at least 30% women in Group's management bodies (Defined as the EXCO and the
Extended EXCO) by 2030. As at 31 December 2022, there is a 27% representation of women in Group's management
bodies and a 39% representation of women at key positions below the Extended EXCO level (defined as positions between
Assistant Manager and Manager).
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