Bank of Cyprus raises 2026 ROTE forecast, posts higher nine-month profit
Bank of Cyprus raises 2026 ROTE forecast, posts higher nine-month profit Nov 5 (Reuters) - Bank of Cyprus BOCH.CY on Thursday reported a 9% rise in nine-month net profit and upgraded its 2026 return-on-tangible-equity (ROTE) guidance, citing strong lending growth, resilient asset quality and continued cost discipline.
Profit after tax attributable to shareholders rose to €383 million ($431.3 million) in the first nine months of 2026 from €353 million a year earlier, while ROTE improved to 18.9% from 18.4%.
The bank said it now expects a high-teens ROTE in 2026, up from its previous mid-teens guidance
Gross performing loans were up 7% year-to-date and 9% year-on-year, reaching €11.6 billion, driven mainly by domestic demand
Customer deposits also rose 9% year-on-year to €23.5 billion at the end of September
Non-performing exposure ratio improved to 1.0% from 1.2% at end-December 2025
The lender maintained its target for ordinary dividend payout ratio of 70% and targets an additional top-up dividend of up to 20% for 2026
CEO Panicos Nicolaou said in a statement that the bank is on pace to exceed its annual organic capital generation guidance of 350-400 basis points
($1 = 0.8880 euros)
(Reporting by Antonis Pothitos; Editing by Janane Venkatraman)
((antonis.pothitos@thomsonreuters.com; +48 58 769 65 78;))
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