Cyprus economic and business news update for May 2026

In the first quarter of 2026, a local lender reported a return on tangible equity of 18.0 percent and basic earnings per share of €0.28. New lending for the bank reached €829 million, a 9 percent increase from the previous quarter, while gross performing loans rose to €11.1 billion. The deposit base remained stable at €22.3 billion. Seven startups including AgriNow, Better, Cloudigo, Paytic, GYST, Outfindo, and Peanuds were selected for a fintech program focusing on AI and digital payments. Furthermore, the Cyprus Statistical Service reported that total traveller arrivals reached 7,102,208 in 2025, a 13 percent increase, with 7,076,521 departures recorded. The government reported a revenue increase of €194 million to €3.81 billion for the first quarter. Additionally, the Cyprus Chamber of Commerce and Industry (Keve) announced its appointment to a key role within Eurochambres, aiming to influence EU policies on employment and skills development. The Council for the Study of Derogations is currently reviewing pending development proposals.