Hellenic Bank wins “Best Corporate Governance” award

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”.