Bank of Cyprus 81 mln profit Q1
The Bank of Cyprus said it has made 81 million euros in profit after tax for the first quarter of 2010, a rise of 29 percent year on year amid a challenging economic climate.
•Group Loans to Deposits ratio at 90%
•Primarily deposit funded (74% of assets funded by customer deposits)
•Liquid assets €11,4 bn (29,1% of total assets)
•Positive contribution to profit from all markets
•Net Interest income €242 mn (+33% y/y)
The bank said it expects full-year group profit after tax at between 300-400 million euros.