Breaking news

Union Monitors Takeover Speculations at Cyprus Development Bank Amid Staff Concerns

by THEFUTURE.TEAM

September 3, 2025

Amid rising speculation about a potential change in ownership at the Cyprus Development Bank (CDB), the employee union Etyk has issued a firm statement warning against any disruptions that could jeopardize the institution’s stability and the rights of its workforce.

Union Oversight and Employee Security

Etyk has emphasized its commitment to closely monitor the evolving situation at CDB bank, stressing that the future of the institution and the security of its employees remain paramount. The union affirmed that any prospective acquisition must guarantee the full transfer of all current employees to the new owners, underscoring that protection of jobs and rights is non-negotiable.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Firm Stance Against Workplace Victimisation

In its circular, the union made it clear that it will not tolerate actions that could lead to the victimisation or exclusion of staff. Etyk warned that failure to secure these conditions would prompt a vigorous response aimed at defending the interests and rights of its members during any restructuring or change of ownership.

Acquisition Interests and Regulatory Oversight

The bank has been the subject of acquisition interest for several years. Notably, discussions with AstroBank and an Armenian banking institution recently collapsed despite advanced talks. Additionally, the potential for foreign investment remains high, though any change in ownership would require stringent approvals from both the Central Bank of Cyprus and, for qualified holdings, the European Central Bank.

Financial Performance and Future Prospects

CDB Bank’s financial results for 2024 reveal a challenging operating environment. Profit after tax fell by 41% to €4.09 million, and overall net income declined by 9% to €22.8 million amid rising interest expenses, which escalated by 192% to €6.2 million. Despite these hurdles, the bank maintained robust capital and liquidity metrics, with a Common Equity Tier 1 ratio of 22.25%, an overall Capital Ratio of 27.38%, and a Liquidity Coverage Ratio of 348% backed by a liquidity surplus of €277 million. Furthermore, customer deposits increased by 12% to €549 million, and lending activity surged with new loans rising 152% to €34 million.

Strategic Resilience and Asset Quality Initiatives

The bank is actively working on strengthening its balance sheet, enhancing asset quality, and investing in technological upgrades to boost efficiency and resilience. These measures reflect a broader strategic commitment to not only stabilize the institution but also to position it for future growth in a competitive market environment.

With acquisition interest continuing to swirl and the union taking an uncompromising stance on employee rights, the unfolding narrative at CDB Bank is one to watch. The coming months will be crucial as all parties negotiate the balance between financial restructuring and the welfare of the bank’s workforce.

The Future Forbes Realty Global Properties

FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.