trending Market Intelligence /marketintelligence/en/news-insights/trending/umocjwa4tqKuM4VflyyyTg2 content esgSubNav
In This List

Bank of Cyprus expects Q1 profit of about €50M


Banking Essentials Newsletter: September Edition, Part - 2


S&P Capital IQ Pro | Unrivaled Sector Coverage


S&P Capital IQ Pro | Powering Your Edge


Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter

Bank of Cyprus expects Q1 profit of about €50M

Bank of CyprusPublic Co. Ltd. expects first-quarter net profit to reach about €50million.

In the quarter, the lender reduced its loans in arrears for morethan 90 days by about €1 billion, with the ratio of such loans to gross loansdropping to 47% at the end of March from 50% at the end of 2015. The NPLcoverage is likely to reach 50%, according to the bank's May 4 trading update.

The lender expects its transitional common equity Tier 1ratio to reach around 14.3% as of March 31, compared to 14.0% at Dec. 31, 2015.

Bank of Cyprus' level of Emergency Liquidity Assistancereduced to €3.2 billion after it repaid €600 million of ELA in 2016.