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Systemic Barriers Persist for Women in Cyprus, Says Commissioner

Achieving gender equality in science, technology, engineering, arts, and mathematics (STEAM) is essential for the resilience and progress of society, Gender Equality Commissioner Josie Christodoulou said during Cyta’s ‘Women in STEAM’ conference on Tuesday.

Speaking at the event, Christodoulou pointed to the persistent challenges faced by women in Cyprus and across Europe, despite the crucial role STEAM sectors play in shaping innovation and economic competitiveness.

According to the ‘SHE Figures 2024’ report, women account for 42 per cent of the self-employed in Cyprus working in science, engineering, and information technology. However, only 14 per cent hold higher research degrees.

Moreover, just 25 per cent of board members in research organisations are women, while female inventors account for only 10 per cent of patents filed.

Christodoulou said these figures do not reflect a lack of ability or ambition but rather point to the impact of social stereotypes, unconscious bias, and structural barriers that continue to limit access, advancement, and leadership opportunities for women in these fields.

She referred to the so-called ‘glass ceilings’ and ‘sticky floors’ that hinder women’s career progression and stressed the need for better reconciliation between work, family, and personal life.

“The presence of women in STEAM is not only a matter of justice,” she said.

It enhances scientific output, strengthens innovation, and supports more ethical and socially responsible technological development.”

Christodoulou gave the example of algorithm design, noting that a lack of diversity in development teams often results in technologies that reinforce existing biases.

She also made special mention of the historical contribution of women to technology, from the women who worked as ‘human computers’ during World War II to the codebreakers of Bletchley Park, many of whom, she said, were never properly recognised.

She underlined the importance of female representation in leadership roles, noting that “the visibility of women in high-ranking positions strengthens ambition and breaks down stereotypes,” particularly for younger generations.

According to the Commissioner, the Cyprus government has already taken steps to address these challenges. These include the extension of maternity and paternity leave, the development of care structures for children and the elderly, and the training of professional counsellors to help challenge gender-based stereotypes.

She also referred to the annual ‘HerStory’ campaign, which highlights the achievements of women working in male-dominated sectors such as shipping and diplomacy.

Christodoulou called for closer cooperation between the state, the private sector, social partners, and civil society.

She pointed to existing collaborations with the scientific and technical chamber (Etek) and the Cyprus Chamber of Commerce and Industry (Keve), and announced an upcoming memorandum of cooperation (MoC) with the Federation of employers and industrialists (OEV).

She concluded by saying that promoting gender equality and building inclusive work environments “is a strategic choice for economic progress and social sustainability.”

Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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