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Cyprus Development Bank Net Income Falls 25% In 2025

Financial Performance Overview

The Cyprus Development Bank Group reported total net income of €17.2 million for 2025, a 25% decline compared with €22.8 million in 2024. The earnings drop was largely attributed to a significant decrease in net interest income driven by lower interest rates and a slight contraction in interest-earning assets.

Declines In Interest Income And Expense

Net interest income fell 28% year-on-year to €13.8 million from €19.1 million, as interest income declined 31% to €17.5 million. At the same time, interest expenses decreased 39% to €3.8 million, largely driven by lower deposit-related costs, while interest paid on client deposits dropped 34%. Expenses linked to loan capital also declined following the non-payment of the perpetual unsecured subordinated note.

Asset Quality And Revenue Mix

The bank’s net interest margin narrowed to 2.54% from 3.44%, while average interest-earning assets decreased 1.3% to €548 million. Non-interest income also declined 6% to €3.5 million, although operating expenses were reduced by 5%, mainly due to lower staffing costs. Staff expenses fell 10% following the absence of one-off costs recorded in the previous year, despite salary increases and a slight reduction in headcount.

Balance Sheet And Liquidity Strength

Total assets decreased 3% to €602 million, primarily reflecting lower loans and advances. Despite the decline, the group maintained strong liquidity levels, with the liquidity coverage ratio standing at 296%, significantly above the regulatory minimum requirement of 100%, although lower than the 348% recorded in 2024. Meanwhile, the net stable funding ratio remained at 236%, while liquid assets increased slightly to €407 million, representing 68% of total assets.

Loan Portfolio And Risk Management

Gross loans and advances declined 11% to €190 million as customer repayments continued exceeding new lending activity. New lending fell 60% to €13.5 million, while performing loans declined 10% to €158 million. The group also reported improvements in non-performing exposure metrics, with the NPE ratio decreasing from 17.7% to 16.9%, while net NPEs declined to €17.9 million and the NPE coverage ratio increased to 44.1%.

Capital Adequacy And Regulatory Compliance

The bank maintained a CET1 ratio of 21.93% and an overall capital adequacy ratio of 27.12%, both remaining comfortably above regulatory requirements. CET1 capital declined 3.58% to €45.6 million, partly due to supervisory adjustments related to legacy non-performing exposures and real estate assets, although the impact was partially offset by lower risk-weighted assets following updated regulatory rules.

Outlook And Strategic Priorities

The group confirmed that its financial statements continue to be prepared on a going concern basis, supported by strong liquidity and capital buffers. Management also pointed to the agreement signed in March with Bank of Cyprus regarding the sale of substantially all performing loans and deposits.

According to the bank, capital and liquidity requirements are expected to remain compliant through 2028, while no dividend will be paid for 2025 as the group continues focusing on strengthening balance sheet resilience, improving asset quality, diversifying income streams and reducing non-performing exposures.

Women Make Up A Majority Of The EU’s Science And Technology Workforce But The Real Gap Is Elsewhere

Women now make up the majority of the EU’s science and technology workforce. According to Eurostat, in 2025, more than 81.6 million people aged 15 to 74 were employed in science and technology occupations across the EU. Of those, 52.5% were women, equal to 42.8 million women. The number of women in these occupations rose by 27.9% compared with 2015, an increase of more than 9.3 million over a decade.

On the surface, the numbers resemble progress. However, Eurostat’s category requires context before that figure can be read accurately. The data refers to HRST, or Human Resources in Science and Technology, specifically people employed in science and technology occupations. These are roles where the main tasks require professional or technical knowledge in physical and life sciences, but also in social sciences and humanities. That definition is wider and broader than engineering, ICT, laboratory science, or high-tech research alone.

Zooming In

The gender picture changes once the data moves from a wider definition of the workforce to the narrower scientist-and-engineer (research and manufacturing) subgroup.

Scientists and engineers represented almost a quarter of all people employed in science and technology in the EU in 2025. Eurostat describes scientists and engineers as often being the innovators at the centre of technology-led development, making them an important subgroup to focus on separately.

Women accounted for only 40.8% of scientists and engineers in 2025, despite making up more than half of the wider category. That share has increased by a mere 0.5 percentage points over the past decade. The absolute number of women working as scientists and engineers rose from 5.3 million in 2015 to 8.2 million in 2025, despite the push from national and international organisations to increase the number of women in the field. Europe has expanded the number of women in science and technology occupations over ten years. However, that expansion has not extended equally into the scientist-and-engineer subgroup, where much of Europe’s research and innovation work is conducted.

In 2025, of the 39.4 million women aged 25 to 64 working in science and technology occupations in the EU, 35.5 million worked in service activities. Only 2.7 million worked in manufacturing. Women accounted for 57.5% of science and technology employment in services, but only 31.3% in manufacturing.

In 2025, the highest shares of women employed in science and technology occupations were recorded in Latvia at 62.4%, followed by Hungary’s Great Plain and North region at 61.1%, Estonia at 60.5%, Poland’s Central macroregion at 60.4%, and Lithuania at 60.3%. No EU country recorded a majority of women among science and technology workers in manufacturing.

Break-down

Eurostat’s figures measure employment in broad science and technology occupations. They do not show job security, pay levels, management roles, promotion rates, research leadership, or whether women are concentrated in junior or senior workplace positions.

The classification of “senior” also requires additional explanation. Eurostat reports that 45.9% of science and technology workers aged 25 to 64 in the EU were classified as “senior” HRST in 2025. In this dataset, “senior” refers to workers aged 45 to 64. It does not mean senior manager, senior researcher, team lead, or decision-maker.

A high female share in the wider Human Resource Science and Technology (HRST) category does not parallel equal representation across scientists, engineers, manufacturing roles, senior posts, pay, research funding, or decision-making. These figures also reflect the occupational mix inside each country or region, not only structural progress across all areas of science and technology.

The Case Of Cyprus

Eurostat data places Cyprus’s overall science and technology employment at 37.2% of the labour force in 2025, slightly above the EU-27 figure of 36.9%, and above Greece at 26.8%, Malta at 33.9%, and Turkey at 18.2%. This figure covers the total share of the labour force employed in science and technology across all genders.

Progress Or Work-in-Progress?

52.5% in the broad category. 40.8% among scientists and engineers. 31.3% in manufacturing. Europe’s gender gap in science and technology hasn’t closed yet, and there is still work to be done to encourage and support more women to enter the field, especially in research and manufacturing.

Let’s not wait another decade for another couple of percentage points of hope.

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