Bank Of Cyprus Leads The Way: Awarded Best Bank In Cyprus At Global Finance 2026

Bank of Cyprus has been named Best Bank in Cyprus at the World’s Best Banks Awards 2026, organised by Global Finance. The award recognises the bank’s performance during 2025 and comes as financial institutions across Europe continue to adapt to changing interest rate conditions and increasing competition.

Strategic Performance Amid Market Pressures

In an era marked by lower interest rates and intensifying competitive pressures across Western Europe’s banking landscape, top financial institutions have been compelled to diversify revenue streams and invest in technological innovation. Global Finance highlighted the resilience of European banks, even as regulatory easing and challenging market conditions continue to test profitability models.

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Mergers, Acquisitions, And Digital Innovation

Global Finance highlighted the Bank of Cyprus’ acquisition of Ethniki Insurance Cyprus Ltd as one of the developments supporting the award. The bank also reported a 25% year-on-year increase in shareholder distribution and introduced what it described as Cyprus’ first fully digital housing loan. Both initiatives formed part of the bank’s broader strategy to expand services and diversify sources of revenue.

Commitment To Resilience And Growth

The award comes as banks across Europe continue to focus on capital strength, digital transformation and operational resilience. Global Finance noted that investment in technology and cybersecurity remains a priority for financial institutions navigating an increasingly complex operating environment.

Looking Forward With Confidence

Commenting on the award, Bank of Cyprus Chief Executive Officer Panicos Nicolaou said: “We are proud to have been recognised again as the Best Bank in Cyprus by Global Finance. This award is a reflection of our strong performance in 2025 and our unwavering commitment to innovate and enhance our products and services.” Nicolaou said the bank remains focused on supporting customers, the wider economy and long-term shareholder value. The recognition follows a year marked by expansion in digital services and continued efforts to strengthen the bank’s position in the Cypriot financial sector.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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