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.
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.
When AI Agents Start Shopping For Your Clothes: Fashion’s Agentic Commerce Challenge
Agentic AI can book your flight and reorder your coffee. But fashion shopping runs on browsing, inspiration, and bodies that don’t come in standard sizes. That combination is proving far harder for autonomous agents to crack.
The Promise Meets Its Hardest Category
Late last year, we covered how agentic commerce is reshaping global transactions. The illustration was crisp: tell an AI to find the cheapest red-eye flight from Singapore to Tokyo under $500, and it searches, compares, books, and pays. Done. The entire purchase happens inside a single conversation.
Flights are standardized products. A seat is a seat. A price is a price. The agent’s job is clear, the criteria measurable, the outcome binary. But what happens when the AI agent needs to buy you a dress for a wedding in Mykonos?
Fashion is where agentic commerce runs into a wall. And the reasons go deeper than most industry commentary acknowledges.
Fashion Is A Browsing Category, Not A Searching Category
When someone shops for electronics, they typically know the product. “Samsung Galaxy S26, 256GB, best price.” The intent is specific, the comparison is numerical, and an AI agent can handle it without breaking a sweat.
Fashion works differently. Most consumers don’t know what they want when they start shopping for clothes. They browse. They scroll. They stumble onto a jacket they didn’t know existed and suddenly rethink the entire outfit. This isn’t a flaw in how people shop. It’s the point.
Academic research confirms what anyone who has ever spent 40 minutes on a fashion app already knows: online clothing shopping is dominated by what researchers call “diversive exploration” — browsing for enjoyment and discovery, distinct from goal-directed search. The behavior is hedonic, not utilitarian. People don’t just want the product. They want the process.
The numbers back this up. According to McKinsey’s State of Fashion 2026 report, shopping-related searches on generative AI platforms grew 4,700% between 2024 and 2025, with AI supporting “inspiration and product comparison” — especially in fashion, where choice abounds. Consumers are using AI to discover, not to delegate. A separate Bain & Company study from April 2026 found that 44% of US online buyers now start their journey in an LLM or split between AI and traditional search. But in fashion specifically, 46% use AI for “discovering new products and getting inspired,” while usage drops sharply as activities move closer to checkout and payment.
An AI agent can book a flight autonomously because the consumer’s intent is clear. In fashion, the intent is often vague, “something for summer”, or absent: “I’m just looking.” You can’t delegate browsing to an agent. Browsing is the experience.
Even When You Know Exactly What You Want
Suppose a consumer does have a specific goal. They want a pair of Camper Pelotas in size 42. Straightforward enough for an AI agent, right?
Not quite.
A size 42 in Camper is not a size 42 in Nike, which is not a size 42 in Adidas. There is no universal sizing standard in fashion. Every brand calibrates differently, and some brands are inconsistent across their own product lines. An AI agent that confidently orders the “right” size has roughly a coin-flip chance of getting it wrong in certain categories. European fashion return rates hover between 25% and 40%, with size and fit issues accounting for more than half of all returns, according to Statista and European e-commerce industry data. In Germany, the practice of “bracketing”, ordering three sizes of the same item to try at home, pushes online fashion return rates above 44%.
Then there’s the visual dimension. A flat product photo in an AI chat window doesn’t replicate what happens when a consumer sees a shoe alongside ten alternatives on a comparison grid. Context matters. Styling matters. The way a sandal looks next to a linen dress matters. Pinterest’s visual search technology has driven a 387% revenue increase for participating merchants, and visual search users convert at rates 73% higher than text-based searchers, according to industry data tracked by eCommerce Times. Platforms like Spangle are proving that AI-powered visual personalization lifts revenue per visit by up to 50%.
There’s a final paradox. Price comparison absolutely works in fashion — the same branded shoe can differ by 30% across retailers. But consumers also compare across products. “Do I want the Camper or the Clarks?” That requires visual side-by-side browsing, and current AI agents can’t replicate it well. They’re designed to return a result, not to facilitate a process.
The Infrastructure Gap
For AI agents to operate autonomously in fashion, they need structured, real-time data: normalized product attributes, cross-retailer pricing, size mapping, availability signals, and brand reliability scores. This infrastructure barely exists.
Consider how hard this is even in simpler categories. Cyprus’s government-backed e-Kalathi grocery comparison platform launched with the goal of transparent supermarket price tracking. Within months, the Cyprus Consumer Association flagged accuracy problems — pricing inconsistencies, incomplete product coverage, misleading comparisons. And that’s groceries, where a bottle of milk is a bottle of milk.
Fashion is orders of magnitude harder. Product feeds arrive in dozens of incompatible formats. A “navy blue slim-fit cotton shirt” from one retailer might be listed as a “dark blue fitted cotton top” from another — same product, entirely different data. Normalizing that across thousands of products from dozens of retailers requires purpose-built AI pipelines. Stylino, a Cyprus-based fashion price comparison engine, processes feeds from 65+ retailers and uses AI to match and deduplicate over 385,000 products into a single searchable catalogue. Building that kind of data layer took months of custom engineering — and it’s the sort of plumbing that agentic commerce will eventually need to function in fashion.
On the visual side, companies like Aiuta are using AI to generate styled product imagery and virtual try-on experiences, addressing the content bottleneck that currently limits how well any automated system can present fashion to consumers. These building blocks, structured data, visual content, size intelligence, will eventually form the infrastructure layer that agents plug into. But we’re early.
The Likely Sequence
Fashion won’t leap from browsing to fully autonomous purchasing. The transition will happen in stages, and each stage suits a different kind of AI intervention.
First, consumers browse and discover. This is visual, emotional, and social. It won’t be delegated to an agent anytime soon, because delegation defeats the purpose. Second, AI helps compare prices and availability across retailers — this is already happening and provides genuine value. Third, AI monitors price drops, tracks wish lists, and sends alerts when a saved item goes on sale. Useful, but still decision-support rather than decision-making. Fourth, AI executes purchases on known, pre-approved items: reorders, basics, and items the consumer has bought before in the right size.
Only that last step is truly “agentic.” And it applies primarily to commodity fashion: underwear, socks, a replacement white t-shirt, not to the discovery-driven shopping that accounts for most fashion spending. McKinsey’s European agentic commerce research confirms this sequencing: AI is being adopted first as a “decision-support layer, compressing research, comparison, and synthesis,” with usage declining as activities move closer to execution.
Here’s the uncomfortable truth for the agentic commerce narrative: the fitting room is where most fashion decisions actually happen. It’s physical. It’s emotional. Sometimes it involves a friend outside the curtain saying, “absolutely not.” AI agents are exceptional at finding you the cheapest red-eye to Tokyo. They are not standing in that fitting room mirror with you. The agent who wins in fashion won’t be the one who buys for you. It’ll be the one that helps you see better: more options, better prices, smarter comparisons, while you keep making the call.
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