Hel­lenic Bank wins “Best Cor­po­rate Gov­er­nance” award

Financial Mirror (Cyprus) - - FRONT PAGE -

Hel­lenic Bank has been pre­sented with the “Best Cor­po­rate Gov­er­nance Cyprus 2015 Award” by Cap­i­tal Fi­nance In­ter­na­tional jour­nal (CFI.co).

“The bank not only emerged from the re­ces­sion, it deftly man­aged its af­fairs with­out ap­peal­ing to bailout funds or other forms of state sup­port. Hel­lenic Bank Group was the only Cypriot fi­nan­cial in­sti­tu­tion to do so, thus af­firm­ing its unique po­si­tion,” said the CFI.co an­nounce­ment, jus­ti­fy­ing the award.

“Es­chew­ing risk well be­fore the cri­sis hit, and with a com­pre­hen­sive gov­er­nance frame­work en­sur­ing full trans­parency al­ready firmly in place, Hel­lenic Bank Group gained the trust – and ad­mi­ra­tion – of its clients. The bank has dis­tanced it­self from the pack by pur­su­ing its busi­ness in a con­ser­va­tive, yet dy­namic, fash­ion. That stance has since at­tracted new share­hold­ers,” said CFI.co.

The an­nounce­ment added that “with a proven track record, and its cor­po­rate phi­los­o­phy tried and tested un­der the most try­ing of cir­cum­stances, Hel­lenic Bank Group is now primed for ex­pan­sion. The key to the Group’s en­dur­ing suc­cess re­mains good cor­po­rate gov­er­nance with the ac­tive in­volve­ment of all stake­hold­ers and full com­pli­ance with global stan­dards.

“Given the im­pres­sive re­sults ob­tained in the face of grave dif­fi­cul­ties, the CFI.co judg­ing panel con­sid­ers the Hel­lenic Bank Group a most inspiring leader of the Cypriot fi­nan­cial sec­tor.”

Hel­lenic Bank said that it had taken the ini­tia­tive of ap­ply­ing many of the Cor­po­rate Gov­er­nance Codes prin­ci­ples is­sued by the Coun­cil of the Cyprus Stock Ex­change well be­fore the is­suance of the Code. The full im­ple­men­ta­tion of the Code’s prin­ci­ples con­sti­tutes Hel­lenic Bank’s pol­icy, it said.

This recog­ni­tion comes in ad­di­tion to the re­cently re­ceived award from Global Fi­nance Mag­a­zine as “The Best Bank in Cyprus for 2015”.

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