Bank Of Cyprus Earns ‘Best Private Bank Cyprus 2025’ Accolade

by News Editor

March 17, 2025

The esteemed Global Banking & Finance Review has recognized Bank of Cyprus with the coveted ‘Best Private Bank Cyprus 2025’ award. This accolade firmly cements the bank’s status as a leader in the financial sector of Cyprus.

In their announcement, the bank highlighted this honor as a reflection of their commitment to exceptional Private and Affluent banking services, tailored perfectly to meet the diverse needs of high-net-worth individuals. Central to their success is the PrivilEDGE Value Proposition, a bespoke service offering personalized relationship management and unique lifestyle perks.

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Christos M. Ioannou, Head of Private and Affluent Banking, expressed, “Being recognized as the Best Private Bank in Cyprus for 2025 demonstrates our persistent dedication to providing bespoke banking services and personalized investment solutions to our clients.”

The Global Banking & Finance Review Awards aim to acknowledge global institutions for their outstanding performance and leadership. This award solidifies Bank of Cyprus’s position in the market and its unwavering drive to exceed client expectations.

For more insights into Cyprus’s exceptional advancements, consider exploring why Larnaca was named Green City of Cyprus.

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Cyprus Construction Price Index Rises Amid Cost Pressures

by THEFUTURE.TEAM

February 19, 2026

The latest data from the Cyprus Statistical Service (Cystat) shows that the Price Index of Construction Materials in Cyprus reached 118.89 points in January 2026, based on a 2021 average of 100. Compared with December 2025, the index increased by 0.12%, indicating gradual price adjustments across the sector.

Year-Over-Year Growth

On an annual basis, the index recorded a 1.09% increase compared with January of the previous year. The rise reflects ongoing changes in contractor costs and highlights evolving market conditions within the construction industry.

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Commodity-Specific Movements

The report provides a detailed breakdown by material category. Minerals recorded the strongest annual increase at 2.91%, followed by electromechanical products at 2.55%. Products made from wood, insulation materials, chemicals and plastics rose by 1.19%, while mineral products increased by 0.97%. In contrast, metallic products declined by 0.49%.

Volatility In Sub-Categories

More pronounced changes were observed within specific sub-categories. Mineral aggregates rose by 8.34%, while stones increased by 4.97% compared with January 2025. Electrical fixtures posted a 4.65% increase. Iron and steel products declined by 1.73%, and ceramics and cement continued to trend lower, falling by 1.47% and 1.38% respectively.

Methodological Insights

The index is calculated as a weighted average based on the expenditure share of sampled materials during the 2021 base year. Prices are collected monthly from a range of suppliers, using the 15th of each month as the reference date and excluding VAT. The Construction Costs Index applies specifically to new residential buildings.

This detailed analysis not only sheds light on current market trends but also offers stakeholders a robust framework for understanding the underlying cost dynamics in Cyprus’s construction materials market.

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