CLOSE
Loading...
12° Nicosia,
19 March, 2024
 
Home  /  News

Cyprus banking sector maintains stable solvency ratio

Central Bank data shows stable solvency ratio and decrease in cost-to-income ratio for December 2022

Source: CNA

The overall solvency ratio of the Cyprus banking sector stood at 21.2% at the end of December 2022, the same as September 2022, according to data published by the Central Bank of Cyprus on Wednesday.

According to key aggregate financial indicators for the Cyprus banking sector, by CBC, an annual increase of 50 base units was recorded.

The Cyprus banking sector CET1 ratio in the fourth quarter of 2022 amounted to 17.7%, recording a 0.3% decrease, compared to September 2022, but remaining stable on an annual basis.

At the same time, banks' efficiency shows improvement, since the cost-to-income ratio was down to 68.7% in December 2022, compared to 82.6% in September of the same year.

With regard to income, net interest income in the fourth quarter of 2022 amounted to 68.7% of total income compared with 74.3% in the previous quarter. Furthermore, net fee and commission income amounted to 25.5% of total income in the fourth quarter of 2022, down by 3.5%, compared with the previous quarter but up by 0.2% year on year.

At the end of December 2022, total loans represented 40.1% of the banking sector’s total assets compared with 41.2% in the previous quarter and down 2.4% on an annual basis. Cash and cash balances deposited at central banks amounted to 38.9% of total assets in the fourth quarter, compared with 37.3% in the previous quarter.

TAGS
Cyprus  |  economy  |  banks

News: Latest Articles

Cyprus rocked by abbey scandal

Cyprus rocked by abbey scandal

Explosive revelations from the Avvakoum Abbey demand action as the nation's leaders and church officials scramble to uncover ...
Pavlos Neophytos
 |  NEWS
X