Bank Of Cyprus Named Cyprus’ Best Digital Bank By Euromoney

Bank of Cyprus has been named Cyprus’ Best Digital Bank at the Euromoney Awards for Excellence 2026, recognising the lender’s digital banking developments during the review period from January 1 to December 31, 2025.

Digital Banking Expansion

During the year, the bank integrated Fleksy, Cyprus’ first buy now, pay later service, into its digital banking platform. It also expanded Joey, its youth banking app, by adding savings and goal-setting features and enabling transfers between Joey accounts.

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

Bank of Cyprus also extended QuickAccount to support sterling and US dollar accounts. In addition, it launched what it said was Cyprus’ first fully digital housing loan, expanding its digital offering beyond day-to-day banking services.

The bank said it now has more than 500,000 active digital users.

Focus On Customer Access

“Enabling our customers to access the financial products and services they need with ease at any time is at the core of our digital strategy,” Chief Digital Officer Demetris Nicolaou said. “It is an honour for the bank to be named the winner of Cyprus’ Best Digital Bank at the Euromoney Awards for Excellence 2026.”

The recognition follows the Euromoney Private Banking Awards 2026, where Bank of Cyprus retained its titles as Best Private Bank in Cyprus and Best for High-Net-Worth Individuals in Cyprus for a second consecutive year.

Wealth Management Growth

Euromoney also cited growth in advisory services, digital initiatives and a 36% increase in assets under management during the review period as factors supporting the bank’s private banking awards.

The Future Forbes Realty Global Properties

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

Breaking news