Finance
Bank of Cyprus full-year net profit rises 4%
Published by Global Banking and Finance Review
Posted on February 18, 2025
1 min readLast updated: January 26, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on February 18, 2025
1 min readLast updated: January 26, 2026
Bank of Cyprus reports a 4% rise in net profit, plans dividends and share buyback, and targets high-teens ROTE by 2025.
(Reuters) -Bank of Cyprus reported a 4% increase in full-year net profit on Tuesday and said it would propose the distribution of 211 million euros ($220.81 million) in dividends and a 30 million euro share buyback, representing a 50% payout ratio.
"We recognise the importance of continuing to deliver attractive shareholder returns and hence we are...increasing the payout ratio range to 50-70%. We will also consider the introduction of interim dividends," Chief Executive Panicos Nicolaou said in a statement.
Profit after tax and minorities rose to 508.2 million euros from 487.2 million in 2023, with net interest income up 4% at 821.4 million euros on higher interest rates on liquid assets and loans and an increase in liquidity compared to last year.
The bank, founded in 1899, reiterated its 2025 target of a high-teens return on tangible equity (ROTE) with a 15% core capital ratio, or a mid-teens ROTE on reported equity.
($1 = 0.9556 euros)
(Reporting by Antonis PothitosEditing by David Goodman, Kirsten Donovan)
Bank of Cyprus reported a 4% increase in full-year net profit.
The bank proposed the distribution of 211 million euros, equivalent to approximately $220.81 million.
Profit after tax and minorities rose to 508.2 million euros from 487.2 million in 2023.
The bank reiterated its 2025 target of achieving a high-teens return on tangible equity (ROTE).
Net interest income increased by 4% to 821.4 million euros, driven by higher interest rates on liquid assets and loans.
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