Executive Summary
PwC Cyprus’ Annual Review 2025 highlights a year of strategic consolidation, resilience, and targeted growth, as the firm continued to reshape its operating model in response to global geopolitical and economic shifts. Despite a challenging environment, PwC maintained its position as the leading professional services organisation in Cyprus, underpinned by strong client trust, investment in people, and a renewed global brand identity.
Performance & Economic Contribution
PwC Cyprus recorded €86 million in revenues, reflecting a modest 2.5% decrease from FY24 due to reduced support to other PwC Network firms amid global economic pressures. However, sustained expansion in the firm’s Core business offset much of this impact, establishing a stable and sustainable revenue mix for future growth.
The firm contributed €28.9 million to government revenues through taxes and social contributions, reinforcing its role as a major economic stakeholder.
People, Talent & Culture
With more than 1,100 professionals and 33 nationalities, PwC Cyprus continues to invest heavily in talent development and well‑being. Key highlights include:
- 225 promotions, including 1 new Partner and 10 new Directors
- 183 new recruits, of which 109 were university graduates
- 65 newly qualified accountants
- 74% People Engagement Index, reflecting strong belonging, flexibility, and leadership confidence
- Introduction of an AI‑powered intelligent learning platform and continued digital upskilling across the workforce
PwC’s hybrid working model and well‑being initiatives remain central to its people strategy.
Client Trust & Market Position
PwC Cyprus continues to lead the market in client satisfaction:
- 9.17/10 likelihood to recommend
- 4.62/5 overall satisfaction
- 77% Net Promoter Score
These results reflect the firm’s commitment to quality, transparency, and long‑term partnership.
Strategic Priorities & Service Line Highlights
Advisory
The Advisory practice delivered high‑impact work across M&A, restructurings, valuations, due diligence, and strategic consulting. Key sectors included banking, insurance, real estate, energy, healthcare, retail, and hospitality. The team also supported major national initiatives under the Cyprus Recovery and Resilience Plan.
Assurance
The Assurance practice continued its quality‑first strategy, investing in digital tools, automation, and the Next Generation Audit. FY25 also marked the launch of sustainability and CSRD assurance services, strengthening PwC’s trust‑related offerings.
Connected Tax Compliance Managed Services
PwC expanded its managed services capabilities, offering integrated solutions across bookkeeping, finance, tax, VAT, payroll, HR, corporate secretarial services, and tax technology. AI‑enabled automation and global collaboration were key drivers of efficiency and growth.
Tax & Legal
PwC remains the largest Tax & Legal practice in Cyprus, delivering comprehensive advisory and compliance services. FY25 saw growth in Transfer Pricing, Pillar II implementation, CESOP compliance, HNWI services, and cross‑border collaboration with PwC firms in the US, Middle East, India, and Greece.
Brand Refresh: Built for the Intelligence Age
2025 marked PwC’s global brand refresh, aligning the organisation with the demands of the Intelligence Age. The new identity emphasises being bold, collaborative, and optimistic, helping clients “accelerate what’s possible” and turn vision into value.
Community Impact & Sustainability
Through the PwC Foundation, the firm invested €682,000 in youth entrepreneurship, education, culture, and social initiatives, supported by 4,050 volunteer hours. PwC also maintained multiple ISO certifications and continued its environmental commitments, including Green Office accreditation.
Looking Ahead to FY26
PwC enters FY26 with confidence, focusing on:
- Strengthening its Core business
- Expanding advisory and technology consulting
- Enhancing audit quality through AI and next‑gen tools
- Supporting Cyprus’ economic transformation and Vision 2035
- Continuing to invest in people, culture, and responsible leadership
PwC Cyprus remains committed to helping clients navigate complexity, embrace innovation, and unlock sustainable growth.
📄 Read the Full Report
If you would like to read the report in full, you can find it here: https://www.pwc.com.cy/en/publications/assets/annual-review-2025.pdf
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