Breaking news

Bank Of Cyprus Achieves €1 Billion In Real Estate Sales Since 2019

by THEFUTURE.TEAM

August 12, 2024

Since 2019, the Bank of Cyprus has significantly reduced its non-performing exposures (NPEs) by selling over €1 billion in real estate assets. This aggressive divestment strategy is part of the bank’s broader efforts to improve its balance sheet and financial stability. The sales, which include a mix of residential, commercial, and land assets, have enabled the bank to enhance its capital adequacy ratios and strengthen its position in the Cypriot banking sector.

This strategic move aligns with the bank’s long-term goal of focusing on core banking operations while mitigating risks associated with holding extensive real estate portfolios. By offloading these assets, the Bank of Cyprus has not only reduced its exposure to non-performing loans but also generated substantial liquidity, which can be redirected towards more profitable ventures.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

The real estate market in Cyprus has shown resilience, supported by both domestic demand and foreign investment, particularly from European and Middle Eastern buyers. This favourable market environment has allowed the Bank of Cyprus to execute its sales at competitive prices, further bolstering its financial performance.

Looking ahead, the Bank of Cyprus is expected to continue this trajectory, leveraging the proceeds from these sales to strengthen its balance sheet further and explore new growth opportunities within its core banking activities. The success of this real estate disposal strategy underscores the bank’s commitment to maintaining a robust financial position and delivering value to its shareholders.

In conclusion, the €1 billion in real estate sales marks a significant milestone for the Bank of Cyprus, reflecting its strategic focus on financial health and risk management. This move not only enhances the bank’s stability but also positions it for future growth in a competitive and evolving banking landscape.

The Future Forbes Realty Global Properties

Cyprus-based MammoCheck Wins Top Honour At NBG Business Seeds Competition

by News Editor

July 14, 2026

Cyprus-based medical technology startup MammoCheck has won first place at the 16th NBG Business Seeds Innovation and Technology Competition, emerging as the overall winner from 344 entries submitted from Greece, Cyprus and other countries.

The annual competition, organised by the National Bank of Greece, announced the results during an awards ceremony in Athens. MammoCheck received the competition’s top distinction along with a €20,000 cash prize.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Founded in 2024 as a spin-out from Frederick University, MammoCheck is developing an artificial intelligence-powered Software as a Medical Device (SaMD) platform designed to support breast cancer screening. The solution combines a smartphone application with low-cost thermal cameras to provide an adjunctive screening tool powered by AI.

The company says its technology aims to address a significant gap in breast cancer screening, with hundreds of millions of women worldwide lacking regular access to mammography, including many women under the age of 45 who are not covered by most national screening programmes.

“We are honoured to receive first place among 344 entries from Greece, Cyprus and abroad. This recognition reflects the dedication of our team, our clinical partners and the women who inspire our work every day,”
said Alexandra Dimitriadou, co-founder and CEO of MammoCheck.

MammoCheck is currently conducting a clinical trial across multiple hospital sites as it advances toward FDA 510(k) clearance in the United States and CE marking under the European Union’s Medical Device Regulation (MDR).

The latest award marks another milestone for Cyprus’ growing health technology ecosystem, highlighting the increasing international visibility of locally developed medical innovations.