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Cypriot Banks Post €952.5 Million In Profits For Jan-Sep 2024, Driven By Strong Interest Income

by THEFUTURE.TEAM

January 15, 2025

Cyprus’s banking sector reported robust performance in the first nine months of 2024, achieving total post-tax profits of €952.5 million, a significant jump from €602.92 million recorded at the end of June. The latest data, published Tuesday by the Central Bank of Cyprus (CBC), highlights strong gains across key financial metrics.

Strong Interest Income Powers Profit Surge

Net interest income, a critical driver of bank profitability, reached €1.53 billion by the end of September 2024, a sharp rise from €1.033 billion just three months earlier. Total net operating income also increased substantially, climbing to €1.88 billion from €1.22 billion at the end of June.

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Capital Strength And Asset Management

The Tier 1 capital—a measure of the banks’ financial stability—rose slightly to €6.34 billion by the end of September, compared to €6.31 billion in June. Meanwhile, risk-weighted assets (RWA), a benchmark for evaluating financial risk, declined modestly to €22.83 billion from €22.91 billion over the same period.

Year-Over-Year Comparison

The sector’s nine-month performance is particularly noteworthy given that total post-tax profits for 2023 stood at €1.26 billion. This year’s strong momentum indicates a significant uptick in profitability, suggesting that banks are well-positioned to exceed last year’s results.

The latest figures underscore the resilience of Cypriot banks, reflecting their ability to capitalize on rising interest rates and strengthen their financial foundations.

The Future Forbes Realty Global Properties

Elevating Infant Nutrition: Nara Organics Unveils Premium Organic Formula

by THEFUTURE.TEAM

July 30, 2025

The Origins Of A Vision

When Esther Hallam welcomed her daughter Nara into the world, she immediately confronted a formidable challenge: identifying a trustworthy, high-quality organic infant formula. In a U.S. market dominated by cost-cutting practices—such as the use of skim milk supplemented with oils to meet nutritional standards—Hallam observed a disconnect between established availability and uncompromised quality. Research linking corn syrup to obesity and palm oil to reduced calcium absorption only reinforced her resolve to seek a safer alternative.

Redefining Industry Standards

Frustrated by the limitations of existing options, Hallam devoted seven years to developing an organic, whole-milk formula with the expertise of leading scientists and pediatric nutritionists. Nara Organics distinguishes itself by offering the highest percentage of milk fat of any formula on the U.S. market and a significantly reduced reliance on plant-based oils. The carefully selected blend of organic sunflower, coconut, and rapeseed oils not only meets nutritional needs but also minimizes potential health risks inherent to additives like palm oil, soy, and corn syrup.

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Manufacturing Excellence In Germany

Rather than manufacturing domestically—a decision influenced by previous concerns over Cronobacter contamination in American facilities—Nara Organics leverages the advanced, oxygen-controlled production environment of a German facility, widely regarded as the birthplace of powdered infant formula. Chief Marketing Officer Meika Hollender detailed that their unique manufacturing process, which minimizes oxygen exposure during can sealing, substantially extends shelf life and preserves formula integrity, setting a new standard in infant nutrition.

Strategic Investment And Market Impact

Backed by $32 million from prominent investors including AlleyCorp, BBG Ventures, Corazon Ventures, Gingerbread Capital, and Torch Capital, Nara Organics has also garnered support from high-profile celebrity investors such as Serena Williams, Gina Rodriguez, and Nicky Hilton. This robust investment positions the company at the vanguard of an organic infant formula market projected to grow from $20.7 billion in 2023 to $37 billion by 2032.

Enhancing Consumer Accessibility And Community Commitment

Nara Organics is available for purchase directly via its website, subscription models, and a dedicated mobile app that assists parents in tracking essential aspects of infant care. To underscore its commitment to community well-being, the company is donating over 1,400 cans of formula to the Good+ Foundation, which strives to alleviate multi-generational poverty by providing essential services to under-resourced families.

By merging state-of-the-art production with a commitment to organic, high-quality ingredients, Nara Organics is poised to redefine the benchmarks of infant nutrition in a competitive, evolving market.