Cyprus Business Now

Cyprus recorded a fiscal surplus of €570.2 million, a share of 2.1 per cent of GDP, for the year 2022, according to a report released on Friday by the Cyprus Statistical Service (Cystat).

This is coupled with a fiscal debt of €23.37 billion, which corresponds to 86.5 per cent of GDP.

What is more, these preliminary figures have been certified by the European Commission’s Excessive Deficit Procedure.

According to the service, the preliminary results for 2022 indicate positive progress for Cyprus’ fiscal situation, with the country maintaining a surplus for the year.

Lamesa Investments Limited remains the largest shareholder of Bank of Cyprus Holdings Plc (Bank of Cyprus) holding 9.27 per cent of the bank’s share capital, followed by CarVal Investors with a percentage of 9.07 per cent, according to a Bank of Cyprus announcement regarding the dispersion of its share capital.

Specifically, according to the announcement issued by the Bank of Cyprus through the Cyprus Stock Exchange, Lamesa Investments Limited owns 41,383,699 Bank of Cyprus shares, representing 9.27 per cent of the bank’s share capital.

In addition, CarVal Investors owns 40,455,322 shares, representing 9.07 per cent of the share capital, while Senvest Management LLC owns 37,816,282 shares, reflecting 8.48 per cent of the bank’s share capital.

Finally, the European Bank for Reconstruction and Development (EBRD) owns 22,401,744 shares or 5.02 per cent of the bank’s share capital.

The announcement added that the president of the bank Takis Arapoglou owns 106,500 shares, a share of 0.02 per cent, while the member of the Board of Directors of the bank Konstantinos Iordanos owns 1,347,979 shares, a share of 0.30 per cent of the share capital.

Moreover, the bank’s chief executive officer Panicos Nicolaou owns 5,027 shares.

The general public has access to 302,680,320 shares, which represents 67.84 per cent of the bank’s share capital, out of a total share capital of 446,199,933 shares.

The Cyprus Stock Exchange (CSE) ended Friday, April 21 with losses.

The general Cyprus Stock Market Index was at 107.44 points at 12:43 during the day, reflecting a decrease of 0.42 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 64.97 points, representing a drop of 0.43 per cent.

The total value of transactions came up to €112,225.

In terms of the sub-indexes, the main, alternative and investment firm indexes fell by 0.42 per cent, 0.55 per cent and 0.39 per cent respectively. The hotel index remained stable.

The biggest investment interest was attracted by the Bank of Cyprus (-0.8 per cent), Petrolina Holdings (no change), Hellenic Bank (+0.87 per cent), Logicom (-1.8 per cent), and Vassiliko Cement Works Public Company (-1.44 per cent).