Nicosia, Cyprus. Eurobank reported an adjusted net profit of €351 million for the first quarter of 2026, citing strong lending activity and resilient operating performance. Cyta appointed George Metzakis as its new chief executive officer, and Eurostat data showed Cyprus had the EU’s second-highest non-household electricity prices in the second half of 2025.
Eurobank reports first-quarter performance
Eurobank said its reported net profit for the first quarter of 2026 reached €331 million. Earnings per share were €0.09, and return on tangible book value was 15.1 per cent.
Chief executive officer Fokion Karavias said the bank continued solid performance and organic growth despite a challenging environment. He said credit expansion was strong across the group’s core markets, with organic loan growth totalling €1.1bn and the loan book rising 10 per cent year-on-year.
Cyta appoints George Metzakis as CEO
Cyta announced the appointment of George Metzakis as the organisation’s new chief executive officer with immediate effect. The company said the change marked a new phase for its leadership team as it continues implementing its business strategy focused on growth, digital transformation and service development.
Cyta said Metzakis assumed the role on May 8, 2026. He joined Cyta in 2023 as chief commercial officer and, since September 2025, had been serving as co-acting deputy CEO, according to the announcement.
Cyta said Metzakis brings experience and expertise in the telecommunications sector in Cyprus and abroad.
Eurostat data on electricity prices
Cyprus recorded the second-highest electricity prices for non-household consumers in the European Union during the second half of 2025, according to data released by Eurostat.
Which of these developments do you expect to have the biggest impact on Cyprus’s economy in 2026?
