Cypriot Banking Sector Profitability Falls 23.6% In Q1 2026

Profitability in Cyprus’ banking sector declined by 23.6% in the first quarter of 2026, according to consolidated data released by the Central Bank of Cyprus. The figures, covering the period to March 31, 2026, provide an overview of the sector’s earnings, balance sheet developments and capital adequacy.

Net profit fell by €62 million to €202 million, compared with €264 million in the corresponding period of 2025. According to the Central Bank, the decline primarily reflects lower net interest income and losses related to foreign exchange movements.

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Increase In Total Assets

Balance sheet size continued to expand during the quarter. Total assets increased by €274 million, or 0.4%, to €70.235 billion, compared with €69.961 billion at the end of December 2025. Growth in assets was mainly driven by increases in loans and advances, as well as holdings of debt securities.

Decline In CET1 Ratio

The sector’s Common Equity Tier 1 (CET1) ratio declined by 0.7 percentage points to 25.1% at the end of March 2026, from 25.8% three months earlier. Rising risk exposure offset improvements in capital levels, contributing to the decrease in the ratio. Despite lower profitability, capital buffers remained strong. A CET1 ratio of 25.1% indicates that Cyprus’ banking sector continues to maintain high levels of capital adequacy.

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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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