He also holds a BSc in financial services from the School of Management of The University of Manchester Institute of Science and Technology (UMIST), UK.

The decision followed the announcement of the bank's strong financial results, with a profit of €401 million for the first nine months of 2024, marking one of the institution's most successful periods in recent years.

Most importantly, during his term, the quality of the bank's balance sheet improved due to several NPL portfolio sales, while its operating costs were reduced via a number of Voluntary Departure Schemes.

In September 2024, under Nicolaou's stewardship, the Bank of Cyprus marked its triumphant return to the Athens Stock Exchange after a significant hiatus.

This milestone reflects the bank's robust recovery and increased investor confidence, further solidifying its reputation as a leading financial institution in the region.