Cyprus Business Now: Eurobank, CSE, CBC, tourism, property, Alpha Bank, shipping
Addressing delegates, Koumis said tourism reflects its “strategic importance for economic growth, social cohesion and regional development, particularly for Mediterranean and island destinations”.
He described Cyprus’ six-month term as coming at a “historic moment” for the bloc, not only for coordinating legislation, but also for shaping longer-term political direction.
“Our Presidency places particular emphasis on strengthening the resilience and sustainability of the tourism sector,” he said, adding that climate action, environmental protection and balanced, inclusive development across Europe would form the core of the agenda.
“In 2025, we surpassed all the goals set for the year, achieving remarkable organic growth in loans, deposits, and assets under management,” said Fokion Karavias.
The bank recorded earnings per share of €0.37, with 50 per cent of profits generated by non-Greek operations, while the return on tangible book value reached 16.0 per cent, one percentage point above initial expectations.
“Net profit per share reached €37 cents, half of which came from our non-Greek operations, and the RoTBV climbed to 16 per cent, a full percentage point above our initial expectations,” said Karavias.
“Additionally, we are distributing 55 per cent of profits to shareholders,” he added, referring to a 55 per cent payout ratio amounting to €717 million, including a cash dividend of €11.8 cents per share and a €288 million share buyback.
Committee chairman Aristos Damianou (Akel) said his party had prepared a comprehensive bill to address property acquisitions by third-country nationals and companies with foreign interests, warning that the current framework had allowed excessive concentration of land in foreign hands.
“It is a given that a large part of our homeland has been sold to foreign hands and this is dangerous for the semi-occupied Cyprus,” he said.
At the same time, he added, property prices “have taken off through a real estate ‘bubble’ as a result of the purchase of large areas or high-value real estate, especially in urban centers”.
Damianou said there was broad acceptance of the core proposals by the majority of involved bodies, including the Interior Ministry, creating scope for consensus.
“The 2025 was a decisive year for Alpha Bank, marking the successful completion of the three-year strategic plan that began in 2023,” said CEO Vassilis Psaltis.
“In this three-year period, and especially in 2025, we exceeded all our strategic and financial targets, while completing a series of acquisitions that strengthen our capabilities, accelerate our strategy and place the group on a path of long-term growth,” he added.
During the fourth quarter, net interest income reached €413.3m, increasing by 3 per cent quarter-on-quarter, primarily due to the acquisition of AstroBank.
In its first announcement, the CBC launched Tender 02/2026 for the purchase of IT security services, seeking maintenance, system management and 24-hour monitoring of its Security Information and Event Management system for a period of three years.
The contract concerns the provision of Security Information and Event Management services on a 24-hour basis, ensuring continuous monitoring of information systems security incidents.
In a separate announcement, the CBC also invited tenders for the organisation, management and operation of its cafeteria at its headquarters in Nicosia.
The Cyprus-based IT distributor recorded record-breaking annual revenue of $3.86 billion, representing an increase of 28.4 per cent compared to the $3.01 billion generated in the previous year.
During the fourth quarter of 2025 alone, the group saw its sales climb to $1.25 billion, which was a 34.6 per cent rise over the $927 million reported in the same period of 2024.
This growth was particularly evident in December, where the company crossed the $500 million monthly revenue threshold for the first time.
The robust performance was largely driven by a strategic focus on high-margin products, including the expansion of value-added services and the group’s own-brand portfolio such as AENO, Canyon, and Lorgar.
According to an announcement by the chamber, the meeting provided a platform for the maritime industry leadership to engage in high-level dialogue regarding the most pressing issues currently facing the Cyprus shipping industry.
During the working lunch, participants reviewed various proposals and suggestions aimed at the further development of the sector.
A primary focus of the discussion involved identifying specific ways to enhance the competitiveness of Cyprus shipping on a global scale.
The Council of the Exchange confirmed that the virtual sessions will take place on March 16, 2026, for professionals active in Investment Services Firms (ISFs) that hold membership in an organised market of a Member State.
This process applies specifically to firms where the Council deems that the trading and clearing rules are substantially the same as those of the Cyprus Stock Exchange.
Eligible candidates must currently be active within ISFs that are members or are seeking to become members of the local exchange to join the special representative registers.
A significant rise was observed in the provisions of marine gasoil, which skyrocketed by 175.3 per cent during this period.
The aviation kerosene sector also experienced growth, with a recorded increase of 23.2 per cent compared to January 2025.
Demand for heating gasoil surged by 25.2 per cent, while sales of liquefied petroleum gases and asphalt grew by 13.4 per cent and 13.2 per cent respectively.
Conversely, a sharp drop was observed in the sales of light fuel oil, which fell by 62.3 per cent, alongside a 12.1 per cent decrease in heavy fuel oil.
The president of CYFA, Costas Christoforou, and the director general, Christoforos Ioannou, briefed the media on the association’s work and mission.
They outlined the strategic objectives for the coming period, which focus on the further enhancement of the quality and reliability of administrative services in Cyprus.
The association also aims to promote best practices and high standards of compliance across the sector.
Another priority is to strengthen cooperation between CYFA and competent authorities and institutions both in Cyprus and abroad.
The CBC said the total number of withdrawals fell compared with the same period in 2024.
However, the total value remained broadly unchanged, reflecting a steady rise in the average amount withdrawn.
The average cash withdrawal increased by 28 per cent between the first half of 2022 and the first half of 2025, rising from €291 to €372.
The figures indicate that consumers are withdrawing cash less frequently but in larger amounts.
This latest figure, which uses 2021 as a base year of 100 units, actually represented a monthly decrease of 0.6 per cent when compared to the levels recorded in December 2025.
The monthly drop was primarily influenced by the electricity supply sector, which saw its prices fall significantly by 4.4 per cent during the transition from the end of the year.
Conversely, other sectors experienced upward pressure during January 2026, with the water supply and materials recovery segment recording an increase of 1.9 per cent compared to the previous month.
The financial award has a total value of €5,125 and is aimed at supporting young talent within the local industry.
To apply for the funding or to seek further clarification, interested parties are invited to contact the firm directly at their careers email address and include a copy of their curriculum vitae.
Eligible candidates must be final-year students or recent graduates who are up to 24 years of age.
Applicants are expected to hold a degree in tourism, business administration, marketing, or a related subject and must demonstrate a very good academic performance, the company explained.
What is more, candidates are required to be permanent residents of Limassol to qualify for the scheme.
Specifically, the board of directors is scheduled to meet on Monday, March 9, 2026, with the primary purpose of considering the amendment of the firm’s memorandum of association.
During the session, board members are also expected to discuss the convening of an extraordinary general meeting of the shareholders.
This meeting will be called to seek formal approval from the shareholders for the proposed amendments to the constitutional documents.
Established in 2009, the event has evolved into the flagship gathering of the Cyprus shipping community, offering a platform for dialogue between the state and the industry.
President Nikos Christodoulides is due to attend and address the dinner.
Among those expected to be present are Shipping Deputy Minister Marina Hadjimanolis, ministers, senior government officials, party leaders, members of parliament and diplomats.
The state telecommunications authority’s budget forecasts revenues of €450.6m, including €438m from services and products, €9.87m from operating activities and €2.7m from investment activities.
During the debate, Dipa MP Alekos Tryfonidis welcomed Cyta’s financial results and the implementation of its investment and infrastructure programme.
He referred to plans to expand network coverage in mountainous areas and to modernise IT systems.
At the same time, he reiterated his party’s position against any form of privatisation or denationalisation of the organisation, saying that Cyta had remained under public control following previous efforts to privatise it, with the state continuing to benefit.
Lawmakers adopted his first amendment with 26 votes in favour and 10 against.
This reporting exercise has been initiated by the European Securities and Markets Authority and targets firms providing investment services in other member states of the European Economic Area, including Norway, Iceland, and Liechtenstein.
Firms are required to report data specifically for host member states where they provided services to more than 50 retail clients, including those treated as professionals on request.
The data collection focuses on services provided under the freedom to provide services and should exclude any activities conducted through a physical branch.
Inactive clients must be excluded from the report, provided they have been inactive for at least one year, received no services, and generated no revenue for the firm.