9 h. ago Bank of Cyprus stock forecasts rise following earnings announcement

Analysts covering the Bank of Cyprus have significantly raised their price targets following the release of the bank’s preliminary financial results for 2024. All recent revisions indicate a more optimistic outlook compared to previous estimates. A key factor driving these upward adjustments is the bank’s updated profit distribution policy. In its preliminary results announcement, the […]

Politics

13 h. ago Foody purchases made with Bank of Cyprus cards to get reward points

Appreciating the loyalty of its users, Foody, the first online delivery company in Cyprus, has joined the antamivi reward card scheme of the Bank of Cyprus (BOC). With this partnership, users of Foody can earn points, privileges and other benefits by using BOC cards. Foody, established in 2015, changed delivery in our country. After 10 […]

Events

14 h. ago Cyprus Business Now: Alpha Bank, financial literacy, trade deficit, tourism

Alpha Bank’s senior leadership met with state officials and key business figures in Cyprus this week, in order to outline its growth strategy and expansion plans. According to an official announcement from the bank, this four-day visit “reaffirms its commitment to strengthening its presence in Cyprus, positioning its subsidiary as a leading banking choice for businesses […]

Economics

31 h. ago Cyprus credit acquisition firms held €20.3 billion in loans by end of 2024

The total amount of loans held by credit acquisition companies in Cyprus stood at €20.3 billion at the end of 2024, down from €21 billion at the end of the first half of the year, according to data from the Central Bank of Cyprus (CBC). Of this total, €10.3 billion comprised loans to individuals, while […]

Politics

35 h. ago Cyprus steps up financial literacy efforts during Global Money Week

The Cyprus Financial Literacy and Education Committee (CyFLEC) on Thursday announced that it is intensifying its efforts to promote financial literacy among young people and the broader society as part of Global Money Week. The committee, which has been operating under the Central Bank of Cyprus (CBC) since June 2024, “aims to enhance the ability […]

Economics

38 h. ago Cyprus Business Now: Building permits, Hellenic Bank, Tourism, House prices

The number of building permits issued in Cyprus during October 2024 fell to 470, marking a 25.6 per cent decline compared to the 632 permits issued in October 2023, according to data released by the state statistical service. The total value of these permits reached €177.8 million, covering a total area of 147,000 square metres. […]

Economics

59 h. ago Hellenic Bank shares set for delisting as Eurobank nears full ownership

Eurobank has outlined its strategic objectives following the acquisition of 100 per cent of Hellenic Bank in its public offer document, which details the roadmap for the acquisition process. The bank intends to proceed with the necessary steps to delist Hellenic Bank’s shares from the Cyprus Stock Exchange (CSE) upon completion of the offer. The […]

Politics

60 h. ago BOC ranked among best global forex banks, thanks to new eFX Convert service

The Bank of Cyprus (BOC) has been ranked among the world’s best Foreign Exchange Banks for 2025 by the Global Finance magazine’s Gordon Platt Foreign Exchange Awards. This is another important international accolade for the Bank of Cyprus, which is a clear proof of its continuous development, investment in innovation and consistently reliable customer service. […]

Politics

64 h. ago Bank of England allots most money since 2020 at indexed long

The Bank of England said it allotted 2.127 billion pounds ($2.75 billion) of six-month funds to banks at an indexed long-term repo operation on Tuesday, the most since April 2020 during the early stages of the COVID-19 pandemic. The ILTR facility offers cash for six months against a wider range of collateral than the BoE’s […]

Economics

3 d. ago Cyprus interest rates converging with eurozone average, Central Bank reports

Cyprus interest rates converging with eurozone average, Central Bank reports  in-cyprus

Politics

3 d. ago Cyprus Business Now:  tourist units without licence, EU’s Energy, Eurobank, Hellenic Bank

The European Union has taken a significant step towards ensuring affordable, efficient, and clean energy for its citizens through its newly announced Action Plan for Affordable Energy. The plan, revealed on February 26, 2025, by European Commission President Ursula von der Leyen, is designed to highlight the true value of the EU’s Energy Union while […]

Economics

7 d. ago BoCCF: open calls for ‘Faneromeni25’, ‘Moments at the Museum25’ proposals

The Bank of Cyprus Cultural Foundation’s (BoCCF’s) “Faneromeni25 Arts Festival” and “Moments at the Museum25” series of events, invites artists and groups to submit proposals for participation themed as “Contemporary expressions of Cypriot identity” in dialogue with “Cyprus Insula” exhibition, which has been extended until the end of 2025. Following previous years’ success, with the […]

Sport

7 d. ago JP Morgan Chase honours Bank of Cyprus for funds transfer excellence

For the fourth consecutive year, Bank of Cyprus (BoC) has earned the Quality Recognition Award from banking giant JP Morgan Chase Bank. The award is given in recognition of excellent funds transfer processes under SWIFT. JP Morgan is one of the correspondent banks with whom BoC works for transactions in US dollars. The award was […]

Sport

7 d. ago Cyprus Business Now: Bank of Cyprus, Cyprus’ airports, Eurobank, Hellenic bank

The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]

Economics

8 d. ago Cyprus regulator approves Eurobank’s takeover offer for Hellenic Bank

The Cyprus Securities and Exchange Commission (CySEC) has approved Eurobank’s public offer document for the acquisition of up to 100 per cent of Hellenic Bank’s issued share capital. The approval allows the publication of the document, which was officially released on March 5, 2025. Eurobank currently holds 385,847,001 shares in Hellenic Bank, representing 93.47 per […]

Politics

8 d. ago Bank of Cyprus wins JP Morgan award for payment processing excellence

The Bank of Cyprus on Thursday announced that it has received the Quality Recognition Award from global financial services firm JP Morgan Chase. The award, which the Bank of Cyprus has won for the fourth year running, is given in recognition of excellent funds transfer processes under SWIFT. In its statement, the bank noted that […]

Economics

8 d. ago Cyprus Business Now: Cyprus as an investment destination, Hellenic Bank, Fintech investment

Konstantin Zapolianski, Senior Investment Director at Zubr Capital, recently spoke to the Cyprus Mail about Cyprus’ growing potential as a destination for technology and digital industries. With the ICT sector contributing up to 15 per cent of the country’s GDP and generating approximately €4 billion in revenue in 2024, Cyprus is positioning itself for further growth.  Zapolianski shares […]

Economics

1 week ago Cyprus Business Now: Alpha Bank, mall property sale, Hellenic Bank, startups

The legal merger between Eurobank and Hellenic Bank is expected to be completed within the first quarter of 2025, with the final step, the operational merger, scheduled to take place over the following two years. According to Eurobank Holdings’ latest financial results, the bank recorded a €99 million contribution to its net profits from acquiring […]

Economics

2 w. ago Cyprus receives €225m EIB funding for transport, energy, and housing

The European Investment Bank (EIB) has directed €225 million into improving Cyprus’ infrastructure, focusing on sectors such as transport, social infrastructure, student housing, and energy. During a presentation of the EIB’s 2024 financial results, vice-president Kyriakos Kakouris announced a key investment of €72 million for Cyprus’ new archaeological museum, highlighting the bank’s commitment to the […]

Sport

2 w. ago Cyprus’ banking sector faces concerns over high lending rates

Cyprus’ banking sector is undergoing significant changes, with recent mergers reshaping the financial landscape. At the same time, Cypriots are paying the highest mortgage rates in the eurozone while receiving some of the lowest interest rates on their deposits. “The banking system operates close to an oligopoly, limiting competitive pressure,” said Central Bank of Cyprus […]

Politics