Panicos Nicolaou extended as Bank of Cyprus CEO until 2031

On October 14, 2026, the boards of directors of Bank of Cyprus Holdings and the Bank of Cyprus announced the extension of Panicos Nicolaou’s tenure as chief executive officer. The decision was formalized during board meetings held on the same day, resulting in an agreement to keep Nicolaou at the helm of the organization for an additional five years.

Under the terms of the new contract, which involves an amendment to his existing employment agreement, Nicolaou will continue his service until December 31, 2031. His previous term was scheduled to conclude at the end of 2026. The board stated that the decision aims to ensure leadership continuity as the institution pursues its current strategic goals.

Both the banking group and the holding company expressed formal appreciation for Nicolaou’s contributions during his time as CEO, confirming that he will proceed with his duties under the extended term effective immediately.