Bank of Cyprus losses top €122 mln in 9 months

27-11-2020 Financial Mirror FinancialMirror Cool

Bank of Cyprus losses top €122 mln in 9 months

Bank of Cyprus announced after-tax profits of €4 mln in the third quarter, somewhat easing the pain of €122 mln in losses during the nine months, while its chief executive warned of a slowdown in recovery due to the COVID-19 spike.

The impact of the coronavirus and lockdown measures on the economy had a clear impact on the bank’s performance, with a considerable balance sheet deterioration during the past 12 months.

The island’s largest lender had posted after-tax profits of €19 mln in the same quarter last year and €116 mln for the 9 months of...

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This article was automatically added to our system 27-11-2020

Bank of Cyprus losses top €122 mln in 9 months

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