Tourist arrivals in Cyprus increased by 8.5% in August (y-o-y).

Macro/Political:

During the auction of GGB 3.625%, 15 June 2035 which took place yesterday, total bids reached EUR 941 mn and the amount finally accepted was EUR 250mn at a uniform yield of 3.26%.
Source: PDMA

BoG Governor Yiannis Stournaras, in his speech at the Athens International Summit, said that the planned repayment of the GLF loans of €31.6 billion by 2031, ten years earlier than originally scheduled, will decrease the country’s total debt, reduce its future financing needs, and enhance its creditworthiness.
Source: BoG

Markets:

CrediaBank’s CEO, Eleni Vrettou, announced during an analyst conference that, following the acquisition of HSBC Malta, CrediaBank will become the fifth systemic bank in Greece. According to Ms. Vrettou, this transition will initiate discussions with the ECB and the SSM regarding the capital requirements and liabilities the bank will face. More specifically, in 2Q26 the bank expects to learn the rules applicable to systemic banks and whether additional capital buffers will be required. Finally, Ms. Vrettou emphasized that the synergies created through the acquisition will be significant across multiple areas, providing access to advanced technology platforms, insurance services, and new product development, with a strong focus on lending.
Source: Euro2Day

Macro/ Political:

The arrivals of tourists reached 602,026 in August 2025 compared to 554,923 in August 2024, recording an increase of 8.5%. For the period of January – August 2025, arrivals of tourists totalled 3,034,155 compared to 2,758,627 in the corresponding period of 2024, recording an increase of 10%.
Source: CyStat

Markets:

Bank of Cyprus announced the results of its invitation to holders of its outstanding EUR 300mn Fixed Rate Reset Tier 2 Capital Notes (ISIN: XS2333239692) for cash purchase by the Company at a price equal to 102.3% of the principal amount. The Company received valid tenders amounting to EUR 217 mn in aggregate principal, or 72% of the outstanding notes, all of which were accepted. Following the transaction, EUR 83 mn in aggregate principal amount of the notes remained outstanding.
Source: ATHEX