Greece Extends Reduced VAT on Household Electricity to Ease Energy Costs Until 2027

by THEFUTURE.TEAM

February 6, 2026

Government Decision Bolsters Household Incomes Amid Rising Energy Costs

The Greek government has decided to extend the reduced Value-Added Tax (VAT) rate on electricity for households until March 31, 2027. The decision was approved during a recent cabinet session as part of continued efforts to ease financial pressure on consumers.

Rationale Behind The Measure

Following the meeting, Finance Minister Makis Keravnos stated that the reduced VAT rate had originally been set to expire on March 31, 2026. However, with electricity prices remaining broadly in line with last year’s levels, the government opted to prolong the measure for an additional year. The move is intended to help households manage their monthly expenses against the backdrop of persistently high energy costs.

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Fiscal Impact And Broader Policy Objectives

The extension is expected to cost the state approximately €40 million. Officials describe it as part of a wider strategy to cushion the impact of energy prices and strengthen disposable income for families. Maintaining the lower VAT rate is seen as a stabilising step during a period of ongoing economic uncertainty.

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Bank Of Cyprus Approves 2025 Results With €3 Billion Lending And €481 Million Profit

by THEFUTURE.TEAM

March 31, 2026

Robust Growth And Strategic Initiatives

Bank of Cyprus said its board approved the annual financial report for the year ended December 31, 2025, including audited consolidated results for the group. The report covers Bank of Cyprus Holdings Public Limited Company, Bank of Cyprus Public Company Limited, and subsidiaries. The document is available through the bank’s investor relations platform.

Impressive Lending Volume And Financial Performance

New lending reached €3 billion, up 23% year on year. Gross performing loans increased to €10.9 billion, rising 8%. Retail deposits grew to €22.2 billion, also up 8%. Profit after tax totaled €481 million, including €128 million in the fourth quarter. Return on tangible equity stood at 18.6%, while basic earnings per share reached €1.10.

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Operational Efficiency And Resilience

Cost to income ratio was 37%, reflecting operating efficiency. Non-performing exposure ratio stood at 1.2%, while cost of risk was 33 basis points. Liquidity coverage ratio reached 321%, supported by surplus liquidity of €9.2 billion.

Enhanced Capital And Stress Test Performance

Common equity tier 1 ratio stood at 21.0%, while total capital ratio reached 25.9% as of December 31, 2025. Capital levels were supported by profitability despite distributions and business growth. The bank participated in the 2025 European Central Bank supervisory stress test and reported results above the average of participating institutions. Regulatory buffers are set to increase, with the countercyclical buffer rising from about 0.90% to 1.50% and the systemically important institution buffer from 1.9375% to 2.25% starting January 2026.

Shareholder Value And Dividend Policy

The bank targets a payout ratio between 50% and 70%. Total distribution for 2025 reached €305 million, equal to 70% of adjusted recurring profitability. This includes a cash dividend of €0.70 per share. An interim dividend of €0.20 per share was paid in October 2025. A final dividend of €0.50 per share is proposed for approval at the annual general meeting on May 15, 2026, compared with €0.48 per share in 2024. A share buyback programme resulted in the cancellation of more than 5.1 million shares at an average price of €5.83.

Strategic Acquisitions And Future Outlook

Recent developments include a minority investment in Wealthyhood and the acquisition of a performing loan portfolio and deposits from Cyprus Development Bank Public Company Limited. These transactions expand the bank’s portfolio alongside existing liquidity and capital levels.

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