Cyprus Mail

Eurobank Cyprus posts €7.8m in Q1 net profit

Eurobank Cyprus Ltd, a subsidiary of Greece’s Eurobank, said that it generated in January to March an after tax profit of €7.8m after posting a €39.1m profit in financial year 2015.

The lender’s common equity tier 1 ratio stood in March at 26.6 per cent, while the non-performing loan ratio was 6.9 per cent of its loan portfolio, the bank said in an emailed statement.

Eurobank overall deposits at the end of the first quarter of the year were €3.3bn with the loan-to-deposits ratio at 29 per cent, the lender said. The cost to income ratio was 33 per cent.

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