Cyprus Business Now

The Bank of Cyprus on Friday announced that it has been named ‘Best Private Banking & Wealth Management Bank’ in Cyprus for 2022 after an online voting process surveying customers on the island.

The survey was organised and accredited by business and finance magazine Euromoney.

Banks are selected after an independent analysis of financial organisations has been carried out.

The analysis takes into account the quality of service offered to private and institutional customers, as well the bank’s specialised knowledge and experience in the field of private banking.

“For our bank, this award amounts to an international recognition that carries a great deal of weight, rewarding our efforts and encouraging us to strive for even better results in an environment of strict regulatory requirements within the field of Wealth Management,” Bank of Cyprus ‘ Manager of Wealth Management Emilios Tannousis said about the award.

“It also reflects the successful strategy of Private Banking & Wealth Management in offering high-quality products and services to our clients and their families,” he added.

A slight increase of 1 per cent year-on-year was observed in government employment in January 2022, according to a report by the Cyprus Statistical Service (Cystat) released on Friday.

The rise in government employment is primarily attributed to the employment of casual staff.

The 1 per cent increase corresponds to 518 people, which brings the total of government employees to 53,382 members of staff. The highest total increase was recorded in educational staff (2.2 per cent).

An increase in casual staff was recorded in all staff categories, but the educational staff came first, with an increase of 9.1 per cent.

Security forces staff followed with a 1.7 per cent increase, while civil service staff increased by 0.3 per cent.

The casual staff in government services increased by 7 per cent in total, corresponding to 1,242 people.

The Cyprus Stock Exchange (CSE) ended Friday, February 11 with losses.

The main Cyprus Stock Market Index was at 69.77 points at 13:01 during the day, reflecting a drop of 0.11 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 41.94 points, which represents a decrease of 0.05 per cent.

The total value of transactions came up to €15,108.

In terms of the sub-indexes, the main index remained stable, while the hotel index rose by 0.56 per cent.

The alternative and investment firm indexes fell by 0.19 per cent and 0.59 per cent respectively.

The biggest investment interest was attracted by the Bank of Cyprus (-0.46 per cent), Petrolina (-0.87 per cent), the Cyprus Cement Company (-2.83 per cent), Atlantic Insurance (no change) and Demetra (no change).