Cyprus Company News

The Cyprus Shipping Chamber (CSC) took part at the Senior Maritime Conference held on 2-5 December 2019 in Shanghai, China and organized within the framework of the “Marintec China 2019” International Exhibition. “Marintec China” is considered the largest maritime event in Asia Pacific, bringing together shipping professionals from the entire shipbuilding supply chain. The Conference attracts the interest of the Shipping Industry with high caliber speakers, senior government officials and key industry representatives from across the world. The Cyprus Shipping Chamber President Philippos Philis gave a presentation under the section “Innovation, Intelligence and Fusion”, focusing on developments in technology updates on major projects and trending topics in the maritime industry. The presentation was entitled: “Zero-Emissions Path: The Smart Way Forward”, and included discussion on how the shipping industry should approach decarbonization to meet the global levels of CO2 reduction ...

Cyprus company Hermes Airports received an award for volunteerism, at the fifth Cyprus Competition in Corporate Social Responsibility. The airport operator was honoured for a number of good practices and actions that were implemented to benefit Cypriot society in 2018-2019, including the initiative ‘Flying with Autism’ under the programme ‘I Can Fly’, the support provided by Hermes Airports to the Sophia Foundation, as part of the programme ‘I Cook and Offer’ for Cyprus’ children, and the company’s cooperation with the Cyprus Paraplegic Association, which aims to provide better airport access for people with disabilities. Also, it was awarded for taking part in the campaign ‘Let’s Do It Cyprus’ and its cooperation with the department of the environment to organize workshops for schools on the negative environmental impact of plastic straws. The competition was organized by the Pancyprian Volunteerism Coordinative Council and was aimed at private companies whose actions, corporate s...

In the beginning of December, Hellenic Bank Group announced financial results for the three and nine-month period ended 30 September 2019. The financial results of the Cyprus Cooperative Bank, which was acquired by the Group in September 2018 and successfully integrated, are fully consolidated, while the consolidated financial results of the Group for 2018 capture only one-month’s impact of the acquisition. According to the published results, capital ratio is 19,04% and Capital adequacy ratio of 21,53%. Hellenic Bank Group showed robust liquidity position, with a Liquidity Coverage Ratio of 537%. Loans to deposits ratio is 41,5%, and substantial deposit base comprises 89,6% of the total balance sheet. In the third quarter of 2019, Group’s net interest income was €76,0 million, and profit after taxation was €30,2 million. For nine months, Hellenic Bank Group reported Earnings per share of 25,4 cents, and Tangible Net Asset Value per share of €2,45 as at 30 September 2019. It rema...