This marks a 4 per cent increase compared to the previous year, with €107 million earned in the fourth quarter alone.
In addition, the bank reported that basic earnings per share stood at €1.14, up 5 per cent year-on-year.
“This performance is testament to our robust capital and liquidity position, our strong asset quality and our diversified business model,” said Bank of Cyprus group CEO Panicos Nicolaou.
“As a result, we generated a profit after tax of €508 million, 4 per cent higher than 2023 and surpassed all our key financial targets for 2024, accelerating shareholder value creation,” he added.
The mobile gaming industry is witnessing a surge in innovation and investment, with Cyprus’ role within it growing with every passing year.
One of the key figures driving this momentum is Vladimir Nikolsky, founder and CEO of Utmost Games.
With a proven track record in the gaming industry, including his tenure as CEO of MY.GAMES, Nikolsky is now backing some of the most promising gaming ventures in Cyprus.
Among these is Top App Games, a rapidly growing mobile game studio that has made waves with its hit title, Ludus: Merge Arena.
Cyprus’ Construction Production Index prices for January 2025 reported a modest increase of 0.57 per cent from the previous month, according to the latest data from the Cyprus statistical service (Cystat).
What is more, this slight upward trend represents a year-on-year rise of 0.50 per cent compared to January 2024.
In the detailed breakdown by commodity category, notable increases were observed. Mineral products led the gains with a rise of 1.77 per cent.
According to a recent post, starting June 24, 2025, the airline will increase its weekly flights from seven to ten, continuing until October 25, 2025.
Deputy Minister for Shipping, Marina Hadjimanolis, announced this week that the Deputy Ministry of Shipping has integrated gender equality promotion activities into its operations. This initiative aligns with the United Nations Sustainable Development Goal on gender equality and women’s empowerment.
The commitment is further exemplified by the adoption of campaigns designed to inform and encourage more women to enter the maritime industry.
These efforts aim to foster a supportive environment and offer training and mentoring opportunities.
Among the notable initiatives is the awarding of two scholarships for postgraduate studies specialising in maritime education programmes.
According to an official statement, fraudsters are sending mass text messages to random recipients, falsely claiming to represent Binance, a well-known cryptocurrency exchange. The messages allege that an unauthorised login attempt has been detected from a foreign country, prompting recipients to call a phone number provided in the message.
Authorities warn that the ultimate aim of the scammers is to deceive victims into disclosing their login credentials, granting criminals access to their accounts. Police have confirmed that these messages are fraudulent and stressed that recipients should not respond or engage with the sender in any way.
PWC had been commissioned to evaluate the offer by Balram Chainrai’s to buy 100 per cent of the company at €3 per share, a price that it found “fair and reasonable at the time the public offer was made.”
The board reviewed PwC’s comprehensive report on Monday and fully adopted the conclusions. One was that the €3 per share was significantly above past market valuations, offering a 105 per cent premium over the closing price of €1.46 recorded on December 9, 2024.
Hadjimanolis continued by saying that “Innovation, cooperation, and the implementation of global regulations are the three pillars upon which we must focus our shipping efforts,” adding that “2025 is also set to be a challenging year for international shipping, stressing the importance of bolstering resilience to withstand extreme pressures.”
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