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Impressive Financial Growth: Eurobank Cyprus Reaches €214M Net Profit In 2024

by News Editor

March 10, 2025

Eurobank Cyprus concluded 2024 with a striking net profit of €214 million, demonstrating heightened profitability alongside robust capital adequacy. These results underscore the bank’s unwavering resilience and effective management throughout a challenging year. Their current figures highlight a strong commitment to entrepreneurship and economic development in Cyprus.

Significant Financial Metrics

The bank saw a noteworthy year-on-year profit increase of €14.6 million, or 7.3%, leading to €258.7 million in profit before taxes. The strategic control of operational expenses, along with boosted income, reduced the Cost-to-Income ratio to 16.8%, down from 17.7% in the previous year.

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Robust Capital And Loan Quality

The Capital Adequacy and Common Equity Tier 1 (CET1) ratios reached an impressive 37.4%, enhancing its stability beyond the mandatory regulatory requirements. Loans rose to €2.973 million, with a Loans-to-Deposits ratio at 32.2%, reflecting continued strength in its lending portfolio.

Meanwhile, the Non-Performing Exposures (NPE) ratio held steady at a commendable 2.3%, indicating robust credit management practices.

CEO Insights

Andreas Petsas, CEO of Eurobank Cyprus, hailed 2024 as a monumental year, lauding the bank’s growing role in advancing sustainable entrepreneurship and its steadfast dedication towards green transition. For more insights on the financial landscape in Cyprus, explore our analysis of Cyprus banks’ lending trends.

Looking ahead, Petsas emphasized the bank’s ongoing commitment to enhance client services and support both personal and business growth.

The AI Agent Revolution: Can the Industry Handle the Compute Surge?

by THEFUTURE.TEAM

March 28, 2025

As AI agents evolve from simple chatbots into complex, autonomous assistants, the tech industry faces a new challenge: Is there enough computing power to support them? With AI agents poised to become integral in various industries, computational demands are rising rapidly.

A recent Barclays report forecasts that the AI industry can support between 1.5 billion and 22 billion AI agents, potentially revolutionizing white-collar work. However, the increase in AI’s capabilities comes at a cost. AI agents, unlike chatbots, generate significantly more tokens—up to 25 times more per query—requiring far greater computing power.

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Tokens, the fundamental units of generative AI, represent fragmented parts of language to simplify processing. This increase in token generation is linked to reasoning models, like OpenAI’s o1 and DeepSeek’s R1, which break tasks into smaller, manageable chunks. As AI agents process more complex tasks, the tokens multiply, driving up the demand for AI chips and computational capacity.

Barclays analysts caution that while the current infrastructure can handle a significant volume of agents, the rise of these “super agents” might outpace available resources, requiring additional chips and servers to meet demand. OpenAI’s ChatGPT Pro, for example, generates around 9.4 million tokens annually per subscriber, highlighting just how computationally expensive these reasoning models can be.

In essence, the tech industry is at a critical juncture. While AI agents show immense potential, their expansion could strain the limits of current computing infrastructure. The question is, can the industry keep up with the demand?