Cyprus Bank Charts Bold Growth Path With Record Loan Expansion And Elevated Capital Strategy

by THEFUTURE.TEAM

November 13, 2025

Amid one of its strongest performance periods to date, Cyprus Bank is initiating a strategic deployment of surplus capital in the first quarter of 2026. With a keen focus on serving the business community, the bank intends to offer corporate loans—mirroring the same streamlined process used for personal accounts—thereby advancing its digital banking infrastructure.

Digital Innovations Fuel Customer Engagement

Looking ahead to the first quarter of 2026, Cyprus Bank is set to launch an advanced chatbot solution. This digital tool will enable customers to resolve inquiries regarding bank services quickly and efficiently, underscoring the institution’s commitment to leveraging technology as a competitive differentiator.

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Record Loan Growth Reflects Market Confidence

The bank reported record levels of new lending during the nine-month period ending September 30, 2025, with total loans reaching €2.23 billion—a 31% year-over-year increase. This growth spanned multiple business sectors, driven by international operations and corporate financing, with €635 million allocated in the third quarter alone.

Specifically, new loans disbursed in the third quarter of 2025 were distributed as follows: €249 million in large corporate lending, €207 million in retail banking (including €136 million in mortgage loans), €51 million to small and medium-sized enterprises, and €128 million in international operations.

Strategic Capital Deployment And Future Targets

CEO Panicos Nikolaou emphasized that acquisitions will be driven by strategic value rather than mere optics. Any acquisition proposal will undergo rigorous evaluation by the board, ensuring that competitive pressures, particularly those stemming from technological advancements, remain paramount.

Furthermore, the bank is resolutely pursuing an aggressive loan growth strategy in both local and international markets. With external financing already at €1.2 billion and an annual target of €1.5 billion, the bank projects a lending growth rate exceeding 4% in 2026. Concurrently, non-performing loans have declined to 1.2%, with coverage ratios improving to 124%, thereby maintaining a low risk-cost basis of 35 basis points and supporting robust net interest income.

Revised Performance Targets And Shareholder Returns

In light of a strong third quarter—delivering a return on equity of 18.5% and net profits of €118 million—Cyprus Bank has raised its annual expectations. The bank now anticipates net interest income to approach €720 million this year, an upward revision from earlier forecasts of just under €700 million. Additionally, organic capital generation is expected to exceed 300 basis points, with a sustained increase in the ROTE ratio, transitioning from the mid-teens to the high teens.

Looking forward, the bank also expects an improved cost-to-income ratio and a reduction in risk-cost estimates below 40% and 40 basis points, respectively. Underpinned by these robust financial metrics, the group is targeting a payout ratio of 70% on its 2025 profits, aligning with its upper-range distribution policy of 50-70% and ensuring enhanced value creation for its shareholders.

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Uzbekistan Fintech Uzum Valued At $2.3 Billion After New Funding

by THEFUTURE.TEAM

March 10, 2026

Uzbekistan’s fintech leader Uzum has achieved a remarkable $2.3 billion valuation, marking a 53% increase in just seven months. This surge comes on the back of a $131.5 million funding round led by sovereign wealth funds from Oman, with continued backing from investors such as Tencent, VR Capital, and FinSight Ventures.

The investment round comprises $81.5 million in equity and $50 million in convertible financing, positioning the startup for a potential pre-IPO raise of $250 million to $300 million in late 2026 or early 2027. Notably, this follows an earlier milestone when Uzum secured $65.5 million at a $1.5 billion valuation in August 2025, establishing it as the country’s first unicorn.

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Building Uzbekistan’s Digital Ecosystem

Founded in 2022, Uzum operates a digital platform that combines e-commerce, payments and consumer lending services. The company initially launched Uzum Market as an online marketplace and later expanded its operations by introducing a digital bank, Uzum Bank, a consumer lending service called Uzum Nasiya and an express food delivery service known as Uzum Tezkor.

During its previous funding round, Uzum reported more than 17 million monthly active users. The platform now connects nearly 20 million users with more than 17,000 local sellers. Payment volume on the platform reached $11 billion in 2025. Annual transacting users increased from about 3 million to 4.6 million over the past year.

Fintech Driving Profitability

Fintech services represent a major source of revenue for the company. Uzum reported revenue growth from $505 million to $691 million in 2025, while net income increased from $150 million to $176 million. Its e-commerce division recorded $500 million in gross merchandise value and reached EBITDA profitability within three years of operation. The digital bank currently serves around 5 million customers and has issued 4.1 million debit cards. These cards represented nearly half of all debit cards issued in Uzbekistan in 2025. Uzum reports an unsecured loan portfolio of $400 million and a total financing volume of $1.2 billion. Management expects the bank to add about 5 million additional customers as lending and payment services expand.

The company is also expanding cross-border marketplace operations by integrating products from international suppliers. The platform now includes about 200 million SKUs from markets such as Turkey and China alongside roughly 1.5 million locally sourced products available for next-day delivery.

Investing In Infrastructure For Sustainable Growth

To support its expansive growth, Uzum has significantly invested in its logistics and physical infrastructure. The company currently operates approximately 1,500 pickup points across Uzbekistan, with plans to double that network by 2026. Additionally, its warehouse footprint is set to expand from 125,000 to roughly 500,000 square meters, facilitated by four new logistics centers.

Chief strategy and business development officer Nikolay Seleznev said direct investment in logistics remains necessary in markets where third-party fulfillment services are limited.

Positioning For A Global Stage

Uzum plans to use the new funding to expand fintech and commerce services, including additional ATMs, payment systems and point-of-sale infrastructure. The company is also considering several potential locations for a future public listing, including exchanges in the United States, Europe, the Middle East and Southeast Asia. Management has indicated that an initial public offering could take place within the next three years.

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