Speaking at the 3rd Credit Risk & Sustainability Conference, Nikitas Konstantellos, Chairman and CEO of ICAP CRIF, highlighted the group’s growth ambitions in Cyprus, the expanding role of credit ratings and the importance of sustainability assessments in supporting businesses.
Konstantellos noted that more than 230 people were expected to attend the conference, expressing his hope that the event would continue to grow. “Every year we improve, and our goal is for this institution to last and continuously grow,” he said.
He outlined CRIF’s international presence, noting that the group operates in 37 countries and recorded approximately €900 million in revenue in the previous year, with turnover expected to approach €1 billion. He explained that Alpha CRIF operates across Greece, Cyprus, Romania and Bulgaria, serving approximately 8,000 clients and maintaining a database covering around nine million companies.
“Any company can obtain information on companies around the world, whether they are suppliers, customers or prospects, and access full reports,” he said, underlining the value of reliable business intelligence in managing commercial relationships and credit risk.
Turning to Cyprus, Konstantellos described the country as a key market for the group, pointing to its advanced business environment and growth potential. “Cyprus is very important to us. It may be small, but it is advanced and has potential,” he said.
He revealed that CRIF expected to generate €1.5 million in revenue in Cyprus during the year, representing a 50% increase compared with the previous year. He added that the company aimed to double its revenue to €3 million within approximately one to one-and-a-half years, reflecting its confidence in the local market.
On sustainability, he highlighted Synesgy, CRIF’s global ESG platform, which operates across 160 countries and 27 languages, bringing together approximately 650,000 companies and 5,000 partners to assess suppliers’ sustainability performance and value chains.
Konstantellos explained that more than 30 Cypriot companies had joined the platform or received certification. Participants can access ESG scores, carbon footprint calculations, certification and action plans designed to improve their sustainability performance. He added that these tools help companies demonstrate their sustainability commitments to customers, suppliers and the wider market.
Finally, Konstantellos discussed CRIF ESG Ratings, a data-driven service offering assessments ranging from preliminary evaluations to detailed company-specific analyses. He noted that, in 2025, ESG assessments had covered more than three million companies and over 1.5 million real estate properties, illustrating the growing scale and importance of sustainability-related data.
