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1. From water woes to bank bets, here are the stories to follow

2. Eurobank’s €1.3B move creates Cyprus’ largest bank

Eurobank Group’s €1.3 billion investment in Hellenic Bank is set to reshape Cyprus' banking landscape, creating the country’s largest financial institution with total assets of €27.5 billion....

3. Progress in Motion: The Proposed Mall of Limassol is a planned development that will reshape the city’s future

The proposed Mall of Limassol is poised to create a premier destination for shopping, dining and entertainment in Limassol....

4. The best bank to ever come out of Cyprus?

The management of Hellenic Bank has set an ambitious goal for the new structure that will emerge in the coming months following its consolidation with Eurobank Cyprus....

5. Over 400 saplings and shrubs planted in Cape Greco

More than 400 native species of saplings and shrubs were planted on Saturday in the Cape Greco area, in a location that was previously a landfill....

6. Eurobank Cyprus: Stronger in 2024, with a net profit of €214mn

Eurobank Cyprus ended 2024 with increased profitability strong capital adequacy and maintained its good loan portfolio quality. The results reaffirm the Bank’s sound performance and resilience, the effective management of challenges in 2024,...

7. Cyprus banks hit record high profits despite ECB rate cuts

Despite the European Central Bank (ECB) preparing for its sixth interest rate cut since June 2023, bank profits in Cyprus have soared, marking two consecutive years of record earnings. ...

8. Greek banks continue to invest in Cyprus with new acquisitions

Greek banks are showing no signs of slowing down when it comes to investing in Cyprus. ...

9. IGC Business & Investment Council Launched in India

The India-Greece-Cyprus (IGC) Business & Investment Council was officially launched today at the Taj Mahal Palace in Mumbai, marking a significant milestone in strengthening the economic ties between the three nations. ...

10. Eurobank moves for full control of Hellenic Bank in major takeover push

February is shaping up to be a pivotal month for Hellenic Bank, as key financial moves unfold, including a full takeover bid by major shareholder Eurobank, the completion of key acquisitions, and a voluntary exit plan for employees....

11. New lending boosted by interest rates and government plans

A favorable landscape for Cypriot borrowers is taking shape in 2025, laying the groundwork for a strong year in new lending....

12. Greek companies dominate Cyprus market with expanding investments

In recent years, a wave of Greek companies has been making significant strides in Cyprus, investing across various sectors and expanding their reach....

13. Eurobank sells €27M stake in Demetra Holdings

In a significant financial move, Eurobank announced the completion of the sale of its 8.58% stake in Demetra Holdings Plc to Logicom Services Limited. The deal, finalized on January 16, 2025, involved the sale of 17,152,353 shares at €1.55 per share, totaling approximately €27 million....

14. Exciting ''Beyond Sea & Sun'' conference to shape Cyprus' tourism future

Cyprus is gearing up for a pivotal event tomorrow, with the ''Beyond Sea and Sun'' conference set to bring together key players from the global tourism industry to discuss the future of the island's tourism sector. ...

15. Hellenic Bank CEO Michalis Louis on merger plans and Cyprus' future

According to Kathimerini's Panayiotis Rougalas, Michalis Louis, in his first interview since becoming CEO of Hellenic Bank, discussed the challenges and opportunities ahead, especially in the context of the bank’s merger plans and its strategies for growth....

16. Eurobank’s €1.2 billion investment in Cyprus signals confidence

According to Kathimerini's Panayiotis Rougalas, Eurobank has made significant strides in its investment in the Cypriot banking sector, particularly with its ongoing acquisition of Hellenic Bank....

17. Eurobank acquires full control of Hellenic Bank

Eurobank has taken a significant step in consolidating its presence in Cyprus, announcing the acquisition of a controlling stake in Hellenic Bank, according to a report by Panyiotis Rougalas....

18. Bank workers union sets sights on big move in Bank of Cyprus

Last Thursday, the Cyprus Bank Employees' Association (CBA) announced it had sold its shares in Hellenic Bank to Eurobank, but already, reports suggest ETYK, the Cyprus banking employees’ union, is eyeing its next investment....

19. Hellenic Bank reports €284.4M profit for 2024

Hellenic Bank reported a profit of €284.4 million for the first nine months of 2024, up from €240.7 million in the same period last year....

20. Cyprus government revisits foreign investment control amid hospital takeovers

The foreign investment control (FDI) bill, often referred to as the ''Lonestar'' bill, has resurfaced in Cyprus, prompting fresh discussions about foreign ownership of critical sectors, according to a report by Panayiotis Rougalas in this Sunday's Kathimerini. ...

21. CBC: Top savings interest rate in Cyprus hits 2.45%

In August 2024, the Central Bank of Cyprus reported that the highest interest rate for term deposits of up to one year for households reached 2.45%. ...

22. Moody’s sees positive outlook for Hellenic Bank following Eurobank deal

Moody’s upgraded Hellenic Bank’s credit rating to Baa2 from Baa3 on Wednesday, citing the recent acquisition of a 56% stake by Eurobank S.A. The agency also revised the bank's outlook to positive. ...

23. Andreas Petsas named new CEO of Eurobank Cyprus

Eurobank Cyprus’ Board of Directors, decided to appoint Mr Andreas Petsas as a Member of the Board of Directors and as the Bank’s Chief Executive Officer (CEO), in a meeting held on 17 September 2024 in Nicosia....

24. Eurobank and India collaborate to create strategic business council

Mr. Ioannou raised concerns about whether the bank has a plan to maintain its strong profitability, which has largely come from rising interest rates......

25. Michalis Louis appointed CEO of Hellenic Bank

Michalis Louis has been appointed as the new Chief Executive Officer of Hellenic Bank Public Company Limited at the Annual General Meeting of the Shareholders of the Bank, with immediate effect, according to a decision taken by the Board of Directors of the bank......

26. Fitch upgrades Hellenic Bank's rating

Fitch Ratings has raised Hellenic Bank’s (HB) support rating from ‘bb-’ to ‘bb’, thanks to a similar boost for Eurobank S.A., which owns a majority stake in HB. This change reflects Eurobank’s growing role and influence over HB....

27. Bank of Cyprus moves from London to Athens stock exchange in major shift

In a series of significant moves, Cyprus's banking sector is undergoing notable changes this autumn....

28. Bank of Cyprus considers selling JCC to Euronet

Changes are imminent in Cyprus' payment sector as discussions unfold regarding the sale of JCC Payment Systems Ltd to Euronet. JCC Payment Systems......

29. Cypriot bank officials to present AML progress in U.S.

Top officials from four major Cypriot banks are headed to the U.S. on Sept. 16 to present updates on their progress in anti-money laundering (AML) efforts, sanctions enforcement, and foreign account management. ...

30. Christodoulides backs Eurobank's big move into India

President Nikos Christodoulides has shown strong support for Eurobank’s plan to expand into India, seeing it as a significant chance to boost business ties between Cyprus and one of the world's largest economies....