Alpha Bank Cyprus this week held a business-focused event at the Amarande hotel in Ayia Napa, bringing together local stakeholders to underline the strategic role of the Famagusta district in the Cypriot economy and the bank’s continued support for its business community.

The gathering, held on June 3, placed emphasis on local economic prospects, the upgrading of the tourism product, and the role of bank financing in driving new investment projects, with representatives of local authorities, business leaders, professionals and bank executives in attendance.

In his address, Alpha Bank Cyprus chief executive Miltos Michaelas highlighted the importance of the district, pointing to its strong footprint in tourism, hospitality, trade and services, as well as its contribution to outward-looking growth and national competitiveness.

He also stressed the bank’s approach to supporting enterprises.

“Behind every business there are decisions, risks, plans, people and daily effort,” he said.

“Our role is to understand this reality and stand by our customers with experience, clear judgement and solutions that have practical value,” Michaelas added.

He added that in a rapidly changing environment, businesses require partners that offer stability, consistency and immediate responsiveness, noting that the bank is investing in a modern banking experience supported by technology.

That investment, he said, is aimed at delivering faster service, stronger security and solutions aligned with the real needs of customers.

Alpha Bank Cyprus chief wholesale banking officer Christoforos Stylianides focused on the tourism sector as a key driver of growth for the Famagusta district, noting its role in supporting employment, attracting investment and sustaining wider economic activity.

He said the district is undergoing a significant phase of upgrading, with emphasis on higher-quality tourism, infrastructure development, upscale accommodation and enhanced visitor experiences designed to strengthen its position on the international tourism map.

Stylianides also underlined the bank’s strong involvement in tourism financing, describing it as a core lending sector for Alpha Bank Cyprus, with a particularly strong presence in Famagusta in recent years.

He stated that the bank continues to support hotel upgrades, new high-end developments and investments that improve competitiveness and generate value for the local economy, adding that this reflects confidence in both the sector and the area’s business community.

During the event, he also referred to the establishment of a business centre in the district, describing it as a strategic move aimed at improving direct and targeted customer service.

The bank explained that the initiative “reflects its commitment to remain close to the Famagusta business community“, offering financing solutions, expertise and practical support in an area it described as having strong development momentum.