Bank of Cyprus reports strong first-quarter financial results for 2026

The Bank of Cyprus announced its financial results for the first quarter of 2026 on Monday, reporting a profit after tax of 121 million euros. The bank achieved a Return on Tangible Equity (ROTE) of 18%, with basic earnings per share reaching 0.28 euros. New lending during the period totaled 829 million euros, a 9% increase compared to the previous quarter, while performing loans grew to 11.1 billion euros. The cost-to-income ratio remained efficient at 37%, and the Non-Performing Exposure (NPE) ratio declined to 1.1%. CEO Panicos Nicolaou emphasized the resilience of the Cypriot economy despite geopolitical instability. Regarding dividend policy, the bank aims to distribute 70% of profits from 2026 onwards, with potential for additional distributions of 20-30% depending on conditions. The bank has already earmarked 305 million euros for the 2025 dividend payout. The CET1 ratio stands at 20.7%, indicating a solid capital position for the institution.