Bank of Cyprus posts €133 million profit —new lending hits €676 million

The Bank of Cyprus on Thursday released its financial results for the first quarter of 2024, posting a profit after tax of €133 million.

While this figure represents a 4 per cent drop from the previous quarter, it corresponds to a massive 40 per cent rise when compared to the same quarter of the previous year.

“We had a strong start to the year underpinned by compelling financial results and the approval of a meaningful distribution, representing another important milestone in our...