Cyprus Business Now: BoC, CBC, Petrolina, Laiko, shipping, airports
Specifically, the bank achieved record new lending of €3 billion, marking an increase of 23 per cent year-on-year.
“2025 was another strong year for Bank of Cyprus, demonstrated by our financial and operational performance,” said Bank of Cyprus CEO Panicos Nicolaou.
“Our performance was further supported by cost efficiency, robust liquidity and healthy asset quality,” he added.
According to the bank’s financial results, gross performing loans reached €10.9 bn, up 8 per cent year-on-year.
The bank’s predominantly retail deposit base rose to €22.2 bn, also up 8 per cent year-on-year.
Specifically, the bank achieved record new lending of €3 billion, marking an increase of 23 per cent year-on-year.
“2025 was another strong year for Bank of Cyprus, demonstrated by our financial and operational performance,” said Bank of Cyprus CEO Panicos Nicolaou.
“Our performance was further supported by cost efficiency, robust liquidity and healthy asset quality,” he added.
According to the bank’s financial results, gross performing loans reached €10.9 bn, up 8 per cent year-on-year.
The bank’s predominantly retail deposit base rose to €22.2 bn, also up 8 per cent year-on-year.
Furthermore, profit after tax amounted to €481m for the full year, with €128m generated in the fourth quarter of 2025.
According to the plan, following a share exchange, Laiko Kafekopteio will also become the sole shareholder of LOEL Public Company Ltd, effectively unifying the group’s structure under a single entity.
To approve the process, the group will hold separate meetings for creditors and members of each company, with creditors scheduled to convene on March 17 at 3pm and the general meeting of members on March 19 at 3pm, both at the group’s headquarters.
According to the data, the number of investment funds decreased slightly from 351 in September 2025 to 350 in December 2025.
At the same time, total assets recorded a marginal increase of approximately 0.1 per cent, reaching €7.899 billion in December 2025 compared with €7.892 billion in September 2025.
The figures indicate relative stability in the sector’s overall size over the final quarter of the year.
More detailed data from the central bank showed that, at the end of December 2025, the assets of investment organisations included deposits and loans amounting to €827.4 million, compared with €860.2 million in September 2025.
The meeting focused on ensuring the continuity and upgrading of Esso network services, following the acquisition of ExxonMobil Cyprus Limited by Med Energywise Ltd (a subsidiary of Petrolina (Holdings) Public Limited).
Dinos Lefkaritis, Managing Director (CEO) of Petrolina (Holdings) Public Limited, presenting the Petrolina Group, underlined the stability and growth potential offered by the Group, while Ms. Natasa Pilides, General Manager of eWise Cyprus Ltd, presented the strategy of eWise Cyprus Ltd, focusing on the next steps and growth goals.
In addition, they said that the sector is moving beyond a traditional cycle and into structural transition after a strong five-year period.
Polys Hajioannou, CEO of Safe Bulkers and president of the Cyprus Union of Shipowners (CUS), and Aristides Pittas, chairman and CEO of Euroseas, focused on investment decisions.
Meanwhile, Andreas Hadjiyiannis, CEO of Cyprus Sea Lines/Hellenic Tankers and former CUS president, and Giorgos Mouskas, president of Olympia Ocean Carriers and CUS vice president, addressed regulation, financing and operational realism, outlining an environment defined by security risks, regulatory pressure and fuel uncertainty.
The environment, they indicated, is unlike previous phases of the cycle, combining attacks on sea lanes, a dense regulatory framework and technological uncertainty, as mentioned in Newmoney.
Kouroupi told the Cyprus News Agency (CNA) that connectivity “is on an upward trajectory this winter period as well”.
She attributed the increase to coordinated efforts across the tourism sector and agreements with key airlines enabling year-round routes.
During the winter season, 30 airlines operated flights from Larnaca Airport to 54 destinations in 33 countries, she said.
Four new markets, Spain, Belgium, Slovakia and North Macedonia, were added, while ten destinations appeared for the first time in winter, Barcelona, Brussels, Bratislava, Skopje, Venice, Heraklion, Timisoara, Suceava, Cluj and Gyumri.
In 2024, around 57 per cent of people aged 15-34 in Cyprus with medium or high education reported a ‘very high or high’ match between their field of education and their current or last main job, compared with an EU average of 56.4 per cent.
The indicator measures how relevant a person’s studies are to the requirements of their job, on a scale from very high to no match.
Across the EU, results varied notably by education level. Among those with medium education, 46.1 per cent reported a strong match, while the share rose to 68.1 per cent among higher-education graduates.
The chamber said the survey focuses exclusively on family-owned businesses and aims to capture trends, priorities and challenges both in Cyprus and internationally.
According to the announcement, participation by Cypriot companies is considered particularly important in order to reflect accurately the characteristics of the domestic business environment.
“You contribute to the collection of valuable insights regarding the trends, priorities, and challenges faced by family businesses in Cyprus and internationally,” the chamber stated.
The vessel is the first large PSV from the SPEC SPP40 series, constructed at a shipyard in China and delivered following the successful completion of sea trials and acceptance procedures.
According to its statement, the company said that CSM Energy will take on the full ship management operations of the vessel.
A formal naming and delivery ceremony was held at the shipyard to commemorate the occasion, attended by representatives from ship manager CSM Energy, together with the owner and other guests.
It said that the ceremony featured traditional celebrations, including a lion dance symbolising good fortune, safety, and prosperity as the vessel enters service, while it added that the vessel was unveiled and officially named CL SPEC LISA.
The figures showed that the non-performing loans ratio of the banking sector excluding loans and advances to central banks and credit institutions declined to 3.2 per cent at the end of December 2025, compared with 4.5 per cent at the end of September 2025.
Under the methodology applied in the European Banking Authority Risk Dashboard, which includes loans and advances to central banks and credit institutions, the NPL ratio declined to 1.6 per cent at the end of December 2025, compared with 2.3 per cent at the end of September 2025.
The company informed the investing public that these transactions were carried out in accordance with the relevant regulations of the Cyprus Stock Exchange and the circulars issued by the Cyprus Securities and Exchange Commission.
This specific action was taken under the authorisation granted during the annual general meeting which took place on June 24, 2025.
Acting through the Cyprus Investment and Securities Corporation Ltd, more commonly known as CISCO, the group proceeded to purchase a total of 6,200 of its own shares.