Cyprus Mail
Business

Bank of Cyprus posts 2013 loss of €2b

Bank of Cyprus, the lender which was recapitalised by bailing in depositors last year, posted a full-year loss of €2.04 billion for 2013, narrowing from a €2.21 billion loss in 2012.

The bank registered a loss of €93 million in the fourth quarter of 2013, down from €142 million in the previous quarter.

“These results demonstrate stability on the asset and provisioning side of our balance sheet,’ said Chief Executive John Patrick Hourican. “The progress made by the business over the course of the past few months is materialising in the numbers.”

“The business has demonstrated good stability over the past few months,” he told reporters. (Reuters)

 



Related posts

EU citizens stymied by restrictions on crossing points

Agnieszka Rakoczy

Coronavirus: Nine new cases announced on Sunday

Katy Turner

Two remanded for eight days after over 2.5kg cannabis found

Katy Turner

Homes under threat as fire rages in Prastio

Katy Turner

Volunteer Doctors Cyprus depart for Beirut

Anastasiades pledges €5 million aid for Lebanon

Katy Turner

8 comments

Comments are closed.