2024-02-19 12:34:09 ET
Bank of Cyprus Holdings Public Limited Company (BKCYF)
Q4 2023 Earnings Call Transcript
February 19, 2024, 05:30 AM ET
Company Participants
Panicos Nicolaou - CEO
Eliza Livadiotou - Executive Director, Finance
Conference Call Participants
Eleni Ismailou - Axia Ventures Group
Alexandros Boulougouris - Euroxx Securities
James Hamilton - Numis Securities
Hugo Cruz - KBW
Presentation
Operator
Ladies and gentlemen, thank you for standing by. I am Yota, your Chorus Call operator. Welcome, and thank you for joining the Bank of Cyprus Conference Call to present and discuss the Preliminary Full Year 2023 Financial Results Conference Call. All participants will be in a listen-only mode, and the conference is being recorded. The presentation will be followed by a question-and-answer session. [Operator Instructions] At this time, I would like to turn the conference over to Mr. Panicos Nicolaou, Chief Executive Officer. Mr. Nicolaou, you may now proceed.
Panicos Nicolaou
Good morning, everyone. Thank you for joining our financial results conference call for the year ended 31st of December, 2023. I am joined by Eliza Livadiotou, Executive Director, Finance, and Annita Pavlou, Manager, IR and ESG. After my introductory remarks, Eliza will go into more detail on our financial performance and then we'll be happy to take your questions both during this conference call and afterwards.
I would like to start by briefly reminding you of our powerful [indiscernible] and our core strengths on Slide number 4. We are the international group across banking and other financial services in Cyprus, which is a highly liquid and concentrated banking sector. And we operate in a supportive macroeconomic environment. The Cypriot economy remains strong, delivering good growth, proving once again its flexible and resilient characteristics. We are one of the most liquid banks in Europe and hence enjoy the benefits of fast and steep interest rate rises in 2023. At the same time, we have been undertaking proactive actions to position ourselves against a more normalized rate environment in the years to come. We have strong levers under our control. Our diversified business model, our ongoing focus on cost control, our robust asset quality, and our strong capital position, all support us for continuing to deliver shareholder value. We remain confident that under a more normalized interest rate environment of around 2% to 2.5%, we can produce sustainable mid-teens ROTE over the medium term....
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Bank of Cyprus Holdings Public Limited Company (BKCYF) Q4 2023 Earnings Call Transcript