Bank of Cyprus posts higher H1 profit, raises interim dividend
Bank of Cyprus posts higher H1 profit, raises interim dividend Aug 4 (Reuters) - Bank of Cyprus reported a 7% rise in first-half net profit on Tuesday, supported by loan and deposit growth, and announced an interim dividend of €0.24 per share, up 20% year-on-year.
The lender's net profit attributable to shareholders rose to €252 million ($289.95 million) in the six months to June, from €235 million a year earlier.
Gross performing loans reached €11.4 billion, up 5% year-to-date and 8% year-on-year, driven by domestic and international demand.
Customer deposits rose to €22.8 billion, up 3% from end-2025 and 9% from a year earlier.
Return on tangible equity (ROTE) stood at 18.8% for H1, above the bank's mid-teens full-year target.
Non-performing exposure ratio fell to 1.0% from 1.2% at end-2025.
The bank said it now expects ROTE to be towards the upper end of its mid-teens target range for 2026 and upgraded its net interest income outlook for the year to about €750 million.
It also reiterated its target for an ordinary distribution equivalent to a 70% payout ratio in 2026.
($1 = 0.8691 euros)
(Reporting by Antonis Pothitos; Editing by Kirsten Donovan)
((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))
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