Cyprus banks’ Core Tier 1 slightly up at 12%

The capital adequacy ratio of all Cyprus banks marginally improved at the end of December, by 0.1% point to a combined Core Tier 1 level of 12%, according to quarterly data from the Central Bank.

The same collective benchmark for the Cooperative Credit Societies, prior to their merger this year, stood at 10.5%. In efficiency levels, the combined cost-to-income ratio of all banks improved to -52.8% from -56.2% a year earlier, with the voluntary redundancies and the resolution of Laiki Popular Bank reducing the staff costs to 62.4% of all operating expenses, an improvement from 64.4% at the end of September, but still higher than the year-earlier level of 58.6%.

Source: Financial Mirror