Bank of Cyprus first-quarter profit rises 3% as lending grows

Bank of Cyprus Holdings

11/05/2026 07:49

May 11 (Reuters) - Bank of Cyprus reported a 3% rise in first-quarter profit on Monday, as higher lending volumes and stable margins offset a rise in costs.

Profit after tax of 121 million euros ($142.26 million) in the quarter ended March 31, from 117 million euros a year earlier

Return on tangible equity at 18.0% was above the mid-teens full‑year target

New lending of 829 million euros, up 9% quarter-on-quarter with gross performing loans rising 2% to 11.1 billion euros

Operating expenses rose year-on-year, partly due to higher levies, with the cost-to-income ratio excluding special levies at 37%

Net interest income of 181 million euros, stable from the previous quarter

Non-performing exposure ratio fell to 1.1% from 1.2% at end-2025

($1 = 0.8506 euros)

 (Reporting by Antonis Pothitos; Editing by Bernadette Baum)

 ((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))