Member banks

Member Banks

Based on banking business, three groups of shares exist:

Bank of Cyprus:	45%
Cyprus Popular Bank:	30%
Consortium:	25%

The Consortium consists of Hellenic Bank, National Bank of Greece, Arab Bank and Alpha Bank. Each group is represented by one Director. The Consortium is represented by one Director which rotates every year.

Majority decision taking at Board Level is the norm but most decisions are taken by consensus. Funding of the operations is through loans by the member banks according to their shareholding, although today JCC is a net depositor to member Banks.

The policy of the company is to declare dividend only a small part of the profits. The bulk is used for future expansion.

The Board is responsible for the formulation of the company strategy and JCC has its own independent management.

Local banks currently processed by JCC: