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BANK OF CYPRUS POSTS EUR 95 MLN PROFIT IN 1Q 2019

The island’s biggest lender Bank of Cyprus has made a positive start to the year posting a €95 mln net profit for the first quarter of 2019, although NPLs still weigh heavy.

The Bank reported a “good capital position”, as at 31 March 2019 the CET1 ratio was 14.9% and the Total Capital ratio was 17.9%, both pro forma for Helix, “well in excess of our regulatory requirements”.

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By Financial Mirror