12° Nicosia,
07 July, 2020

Eurobank posts €10 million first quarter profit

NPLs down to 4.1%


Eurobank Cyprus annouced earnings of € 10 million for the first quarter of 2019, with non-performing loans amounting to just 4.1% while the capital adequacy ratio stands at 23.4%.

According to the Bank's financial results, Eurobank presented the following indicators:

- Satisfactory and recurring profitability, which amounted to € 10 million after tax.

- A strong capital position, with the capital adequacy ratio of 23.4%.

- Strong surplus liquidity, with deposits reaching € 4.937m and the loan-to-deposit ratio (excluding loans secured by deposits) at 32%.

- Healthy loan portfolio quality, with the non-performing loans index (NPE ratio on the basis of the European Banking Authority guidelines) remaining very low at 4.1%.

- Effective management of operating costs, with a cost to revenue ratio of 35%.

According to Eurobank "the strong financial position of the Bank, as demonstrated by the successive positive results, has consolidated its leading presence in Cyprus in the areas of Wealth Management, Corporate Investment Banking, International Business Banking and Capital Markets "

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