BoC posts €73m in after tax earnings in January to September (Updated)

By Stelios Orphanides

Bank of Cyprus said that it generated a total of €73m in after tax earnings in January to September and a profit before tax, compared to €76m in net earnings a year before, making a third round of capital increase after the 2013 banking crisis unlikely.
The bank’s profit before provisions and impairments, restructuring costs and discontinued operations in the first nine months of the year was €490m, Cyprus’s largest lender said. Accumulated provisions in September fell to €4.9bn from €5.1bn in June, which reflects the sale of its Russian unit Uniastrum.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.