articles | 01 March 2016

Eurobank Cyprus on the up

Eurobank Cyprus, a subsidiary of the Greek EFG Eurobank Ergasias, has announced after-tax profits of €39.1 million for 2015.

The local lender has reported through a press release a “significant liquidity, with deposits reaching €3.241 million and loan to deposit ratio (excluding loans secured by deposits) of 30%.”

The capital adequacy ratio stood at 30.6% and the common equity tier I (CET1) ratio at 27.1%%.

Moreover, Eurobank said that Low Non-Performing Exposures with NPE ratio (on the basis of the new Directive of the European Banking Authority, EBA) stood at 6.8% as at 31 December 2015.

“The positive course of the Cypriot economy allows our country to exit the memorandum soon. The return to international markets and the positive growth create a positive environment for the future,” continued the release.

Source: InCyprus

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