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Cyprus Household Wealth Climbs As Financial Assets Reach €65.3 Billion

by THEFUTURE.TEAM

August 3, 2026

The Central Bank of Cyprus has published its Quarterly Financial Accounts for the first quarter of 2026, providing an overview of the financial position of households, insurance companies, investment funds, pension funds and non-financial corporations.

Households Continue To Increase Financial Assets

Household financial assets rose to €65.30 billion at the end of March 2026. Cash, deposits and loans continued to dominate portfolios, accounting for 53% of total assets, followed by shares at 26%, other financial assets at 17% and debt securities at 4%.

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Debt also edged higher to €20.10 billion, lifting the household debt ratio to 55% of GDP from the previous quarter. Despite the increase, the longer-term trend remained downward. Compared with December 2016, the ratio has declined by 63%, reflecting a significant improvement in household balance sheets over the past decade.

Investment Portfolios Differ Across Financial Institutions

Insurance companies held €6.10 billion in financial assets at the end of the first quarter. Portfolios consisted of 45% shares, 29% debt securities, 18% other financial assets, 7% cash and deposits and 2% loans.

Investment funds reported €7.60 billion in assets, with equities making up 80% of portfolios. Cash and deposits accounted for 4%, loans and debt securities for 13%, and other financial assets for the remaining 3%.

Pension funds held €5.00 billion in financial assets. Shares represented 55% of portfolios, followed by 14% in cash and deposits, 13% in loans, 11% in other financial assets and 6% in debt securities.

Corporate Debt Remains Below Historical Levels

Non-financial corporations reported €79.60 billion in financial assets, including 39% in shares, 33% in other financial assets, 22% in cash and deposits, 5% in loans and 0.5% in debt securities.

Corporate debt increased to €40.00 billion, bringing the sector’s debt ratio to 109% of GDP, slightly above the previous quarter. However, compared with December 2016, the ratio has fallen by 97%, according to the central bank.

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Google Warns Of Vishing Campaign Targeting Financial Firms

by News Editor

August 7, 2026

Cybercriminals are increasingly relying on a simple tactic to breach major financial institutions: convincing employees to hand over their own login credentials.

In a new report, Google said several hacking groups have been targeting large financial and investment firms in the United States through voice phishing, or “vishing”, before stealing sensitive corporate data and using it to extort victims.

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Employees Are The Primary Target

According to Google’s researchers, attackers contact employees on their personal mobile phones while posing as colleagues or IT support staff. Victims are then directed to fake websites, where they are tricked into entering login credentials and multi-factor authentication codes.

Google tracks the groups under the names Falcon, Helix, Pink and Redact, although researchers believe they may be linked to a broader threat cluster known as UNC6671.

Some of the groups operate leak websites, where they threaten to publish stolen data unless companies agree to pay a ransom.

Financial Sector In The Spotlight

While previous attacks targeted industries including manufacturing, healthcare, insurance, technology and hospitality, Google said the hackers have increasingly shifted their focus to financial institutions and law firms.

Researchers believe organisations involved in mergers, acquisitions and capital markets are particularly attractive targets because of the highly confidential information they hold.

Google estimated that one cryptocurrency wallet linked to the operation received around $10 million in bitcoin during the first few months of the year. Ransom demands typically range from $750,000 to $3 million.

The report highlights that despite rapid advances in AI-driven cyberattacks, traditional social engineering techniques remain among the most effective ways for attackers to gain access to corporate networks.