Alpha Bank Cyprus supports business growth in the free area of Famagusta
On Wednesday, 3 June 2026, Alpha Bank Cyprus hosted an event at the AMARANDE Hotel in Ayia Napa dedicated to the business community of the free area of Famagusta, highlighting the area’s strategic role in the Cypriot economy and the Bank’s ongoing support for local businesses.
The event focused on the prospects of the local economy, the upgrading of the tourism offering, and the contribution of bank financing to the implementation of new investments. It was attended by Local Government representatives, business owners, local professionals, and executives from Alpha Bank Cyprus.
In his opening remarks, the CEO of Alpha Bank Cyprus, Mr. Miltos Michaelas, underscored the importance of the free area of Famagusta for the Cypriot economy, highlighting its strong presence in tourism, hospitality, trade, and services, as well as its contribution to the country’s openness and competitiveness.
Referring to the Bank’s relationship with the business community, Mr. Michaelas stated: “Behind every business are decisions, risks, plans, people, and daily effort. Our role is to understand this reality and stand by our Customers with experience, sound judgment, and solutions that deliver tangible value.” Mr. Michaelas also underlined that in a rapidly changing environment, businesses need partners that offer stability, consistency, and responsiveness. In this context, he noted that Alpha Bank Cyprus continues to invest in a modern banking experience, leveraging technology to provide faster service, enhanced security, and solutions that address the real needs of its Customers.
For his part, Mr. Christoforos Stylianides, Chief Wholesale Banking Officer of Alpha Bank Cyprus, focused on the role of tourism as a key pillar of growth for the free area of Famagusta. He noted that the sector supports employment, attracts investment, and generates significant economic activity across a wide range of industries. He further added that the area is currently undergoing a significant phase of transformation, with a focus on upgrading the quality of its tourism offering, enhancing infrastructure, developing high-end facilities, and creating experiences that can further strengthen its position on the international tourism map.
He made special mention to Alpha Bank Cyprus’ contribution to the tourism sector, one of the Bank’s key financing areas, reflected in its particularly strong presence in the free area of Famagusta in recent years. The Bank supports businesses investing in facility upgrades, high-end new developments, and projects that enhance the competitiveness of Cypriot tourism while creating value for the local economy. As he noted, this demonstrates the Bank’s confidence in the sector’s potential, the area’s prospects, and the entrepreneurs investing in the local economy.
Mr. Stylianides also referred to the establishment of an Alpha Bank Cyprus Business Centre in the region, a strategic decision that will further enhance direct and targeted Customer service.
Through the event, Alpha Bank Cyprus reaffirmed its commitment to stand by the business community of the free area of Famagusta, by providing financing solutions, expertise, and meaningful support in a region with strong growth potential.
