Greek companies bolster Cypriot business

The investment climate in Cyprus has significantly improved since the crisis era of 2013, attracting substantial interest from Greek companies. These firms are finding the Cypriot market a fertile ground for expansions and acquisitions, with shared cultural ties and language facilitating smooth business operations.

Over the past two years, a diverse range of sectors, including real estate, healthcare, retail, energy, and banking, have seen significant Greek investment.

Greek financial giant Eurobank has become a major shareholder in Hellenic Bank, one of Cyprus's largest banks. By July 2024, Eurobank had increased its stake to 55.48% and launched a public offer to acquire the remaining shares. This move could result in a total investment of up to 800 million euros, marking one of the largest investments in Cypriot history.

Alongside Eurobank, Alpha Bank of...