Cyprus Mail
Business Cyprus

Surplus for BoC, Cooperative and RCB, Hellenic Bank registers deficit

According to the results announced a short while ago, the Cooperative Bank,Bank of Cyprus and Russian Commercial Bank (RCB) all recorded a surplus of funds while Hellenic Bank registered a deficit.

The Cooperative Bank recorded a surplus of funds amounting to € 331 millions, the RCB a surplus of € 112 million and the Bank of Cyprus an €81 million surplus.

By contrast, the Hellenic Bank registered a deficit of approximately € 176 million. It is noted that the Hellenic Bank has been raising funds through pre-emptive rights in order to improve its capital position.

According to the results, the Treasury Index Main Tier (CET1) in the baseline scenario was 11.6% for the Bank of Cyprus, 14.1% for the Cooperative, 8.4% for Hellenic Bank, and 15.7% for RCB. The baseline index CET1 was set at 8%.

Under the extreme scenario, where the limit was set at 5.5%, the index CET1 Bank of Cyprus reached 5.8%, the Central Cooperative Bank at 9.3%, the RCB to 11.6%, while the corresponding Hellenic Bank index fell to 1.7%.

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