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Bank of Cyprus Receives Notable Ratings Upgrade By Fitch

by News Editor

March 18, 2025

In a remarkable financial development, Fitch Ratings has elevated the ratings of the Bank of Cyprus Public Company Limited (BoC) from ‘BB+’ to ‘BBB-‘, indicating a strong positive outlook. This upgrade underscores the bank’s enhanced asset quality and robust capitalization.

The rating improvement is largely attributed to the bank’s strategic reduction in problematic legacy assets, such as non-performing exposures (NPEs) and net foreclosed properties. This has enabled a healthier capital structure with reduced encumbrance by unresolved problem assets.

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Fitch notes that despite lowering interest rates, BoC’s profitability remains solid thanks to its competence as the largest domestic bank in Cyprus. With consistent deleveraging, it is poised for ongoing financial stability.

Prospective Economic Growth For Cypriot Banks

The favorable outlook anticipates better business and financial prospects amidst Cyprus’s economic growth, with decreasing unemployment and lower private sector debt. BoC’s plans to expand into wealth management and insurance activities stand to gain from these economic trends.

Expectations are that the ratio of BoC’s problem assets will drop below 5% within two years, thanks to diminishing NPE portfolios and active disposals of foreclosed assets. Last year, the bank’s operating profit/risk-weighted assets (RWA) ratio was a robust 5.4%, indicating a sustainable path forward.

Financial Strength And Stability

By the end of 2024, BoC boasted a common equity Tier 1 (CET1) ratio of 19.2%, with a notable buffer over regulatory demands. The bank’s CET1 encumbrance by problem assets fell significantly owing to further disposals.

Supported by a strong Cypriot deposit base, BoC maintains excellent liquidity. Looking ahead, while a downgrade is improbable, Fitch warns that any economic downturn in Cyprus could impact ratings. However, further elevation of the operating environment for Cypriot banks could enhance BoC’s business profile.

If you’re curious about technological advancements in Cyprus, read AI At Work: Cyprus Among Europe’s Most AI-Skeptical Nations.

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Berkshire Hathaway Invests Another $330 Million In Bending Spoons

by THEFUTURE.TEAM

October 15, 2026

Bending Spoons shares rose 35% after Berkshire Hathaway disclosed a further $330 million investment in the Italy-based software company. The move signals continued institutional confidence in a business that has become one of Europe’s closely watched technology players.

Berkshire Increases Its Stake

A new securities filing revealed that Berkshire will purchase 10 million ordinary shares at $33 each, bringing its stake in Bending Spoons to 4%. The investment follows a $600 million commitment in July, when the company went public on Nasdaq.

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Shares climbed 35% following the disclosure, adding to the momentum behind Bending Spoons’ strategy of acquiring and optimising software and digital businesses.

Funding Future Acquisitions

“Bending Spoons continuously evaluates M&A opportunities, and our pipeline remains strong,” said Francesco Patarnello, the company’s co-founder and head of business acquisitions.

He added that Berkshire’s investment reflects confidence in the team and its platform, while strengthening the company’s financial flexibility and capacity to pursue acquisitions as part of its broader financing strategy.

For a company built around buying, integrating and improving digital businesses, access to capital is central to its growth strategy. Berkshire’s backing could also strengthen Bending Spoons’ position as it competes for acquisitions in a market where financing can be decisive.

Berkshire Signals Continuity Under Greg Abel

The investment comes as Greg Abel leads Berkshire Hathaway, having taken over as CEO from Warren Buffett at the start of the year. Abel’s early investment decisions suggest continuity in Berkshire’s focus on established businesses with long-term potential.

For Bending Spoons, the additional investment provides both capital and a vote of confidence from one of the world’s most prominent investment groups.