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Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

Cyprus Tourism Regains Its Footing After A Turbulent Spring

Cyprus’ tourism sector is showing signs of renewed stability, even as June arrivals slipped 1.7% year on year, according to Deputy Minister of Tourism Kostas Koumis, who said the latest figures point to a market that has now returned to a steadier path.

The comments followed the release of new data from the Cyprus Statistical Service (Cystat), which showed that 489,965 tourists visited the island in June 2026, down from 498,527 in the same month last year.

A Softer First Half, But Not A Break in Momentum

For the January-to-June period, Cyprus recorded 1,656,015 tourist arrivals, representing a 10.1% decline from 1,843,013 in the first half of 2025. Even so, Koumis argued that the underlying picture was more resilient than the headline decline suggests.

He described June as “satisfactory under the circumstances,” saying it confirmed that the tourism sector had moved back onto a stable trajectory after a difficult spring. In particular, he pointed to the weaker performance in March and April, when the conflict in the Middle East weighed on travel demand and disrupted normal seasonal patterns.

“It also confirms that the actions taken by the deputy ministry, together with the entire tourism industry, to manage the extraordinary situation our country’s tourism sector faced from March 1 onwards have clearly produced improved results,” Koumis said.

Reading Beyond The Headline Numbers

The deputy minister also argued that the first-half performance, while down year on year, should be viewed in context. Arrivals in the first six months of 2026 were still 0.2% higher than during the same period in 2024, suggesting that the market has not lost its broader momentum.

“If we take into account the very significant losses recorded during March and April, which heavily influence any analysis, the first-half performance should also be considered satisfactory,” he said. “At the same time, a window of hope is opening for a further reduction in the overall decline for the current year.”

Targeted Support For Key Markets

Koumis said the government is now focusing on a deeper analysis of market trends rather than relying solely on overall arrival figures. That review, he added, has identified several geographic markets that have been affected and still require support to sustain long-term growth.

“As a government, and as the competent deputy ministry, we are certainly not stopping at simply reading the numbers,” he said. “A thorough analysis shows that several geographical markets have been affected and still require careful support to ensure their successful and uninterrupted development in the coming years.”

According to Cystat, the United Kingdom remained Cyprus’ largest source market in June, accounting for 33.0% of arrivals, or 161,913 visitors.

Looking Ahead To Next Year

Koumis said planning is already underway for the years ahead, with next year at the centre of the government’s coordination efforts with the tourism industry.

“We are continuing to work hard on planning for the coming years, with next year naturally at the centre of our efforts, in cooperation with the country’s tourism industry,” he said. “Our ultimate objective remains the continuation of our collective effort to transform Cyprus into a sustainable, digitally smart and accessible destination for everyone.”

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