Top 10 Oldest Companies In Cyprus

Cyprus has an exciting financial history. Let’s read together about some of the oldest companies there. Are you interested in learning about their past?

1. Bank of Cyprus
   Its establishment dates back to 1899. The headquarters are in Strovolos. Nowadays, the bank has more than 100 branches across Cyprus and more than 4,000 employees. As of 2020, the net income was about 175 million dollars. The first branch abroad opened in 1955 in London. After that, branches and representative offices followed in Greece, Africa, Canada, Normandy, and more.

2. Louis Group
   The late Louis Loizou, who had a great experience in the tourism sector, formed the Louis Group in 1935 in Cyprus. The group’s initial activities had to do with transportation. Then a travel agency known as “Louis Tourist Agency” was founded. The group gradually succeeded in diversifying into other industries to meet the full range of service requirements for the needs of the tourism sector, including the operation of hotels, catering facilities, sea tourism, and more.

3. Leon Beer
   This brand was launched in 1937. The first brewery produced it in Cyprus, which started operations in 1937. However, some years later, the owners decided to stop the production of Leon Beer. After a long period, Leon Beer was relaunched in 2003 using the 1937 recipe. Furthermore, Leon Beer was the only one produced locally for many years.

4. Cyprus Broadcasting Corporation
   It is a public company in Cyprus that has operated continuously since 1953. Its first launch was as the Cyprus Broadcasting Service. Its program is available in Europe and the USA. The residents of Cyprus can access its program through four radio stations and two domestic television channels.

5. Petrolina
   It belongs to the oil and gas industry and nowadays is the leader in the oil sector in Cyprus. The company was founded in 1959. The headquarters are in Larnaca. The founder was Kikis Lefkaritis, with his four brothers. Unfortunately, Kikis Lefkaritis died in 2020. As of 2020, the company is listed on the Cyprus Stock Exchange.

6. Joannou & Paraskevaides
   This company started its operations in 1961 and belongs to the construction and energy sectors. In its glory days, J&P Overseas Ltd. reached 15,000 employees and more than one billion dollars in turnover. Although the company managed a great deal of expansion abroad in different regions, it did not avoid bankruptcy in 2018.

7. CYTA
   It is a telecommunications company in Cyprus that was founded in 1961. The services of CYTA are not only in Cyprus but also in Greece. The headquarters are in Nicosia.

8. Frederick University
   It was founded in 1965, and its former name was Nicosia Technical and Economics School. It has two premises, one in Nicosia and one in Limassol. It offers scientific training in science, technology, letters, and the arts. The programs are for undergraduate and graduate students.

9. Moufflon Publications
   This is a press company that was founded in 1967. The headquarters are in Nicosia. Jirayr Keshishian had the idea of creating this company, and its name comes from a specific species of goat that lives in Cyprus and is in danger of extinction. The name of it is Cyprus Moufflon. The company covers a range of subjects.

10. Cyprus Port Authority
    It belongs to the state of Cyprus, so it does not have 100% autonomy. The headquarters are in Nicosia, and it was founded in 1973. A total of nine ports and terminals are under the supervision of the Cyprus Port Authority.

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