Bank of Cyprus reports nine-month profit of €383 million

The Bank of Cyprus announced a profit after tax of €383 million for the first nine months of 2026, marking a 9% year-on-year increase compared to the €353 million reported in the same period of 2025. Third-quarter profits reached €131 million. The institution’s Return on Tangible Equity (RoTE) stood at 18.9% for the nine-month period, leading management to upgrade its full-year guidance to the high teens.

Financial statements ending September 30, 2026, indicate total assets grew to approximately €29.95 billion. Net customer loans rose by 7% to €11.58 billion, while customer deposits increased by 6% to €23.48 billion. CEO Panicos Nicolaou attributed these results to robust lending, consistent fee income, and disciplined cost management.

Looking ahead, the bank maintains a strong capital position and has announced plans to distribute 70% of its annual profits to shareholders. The board has also confirmed its intention to issue an extra dividend payment, reflecting confidence in the bank’s ongoing operational and financial performance despite prevailing geopolitical instability.