Nicosia, 4 December2019 

PRESS RELEASE

Nine Month Financial Results 2019

EUROBANK CYPRUS LTD

Moving forward on a profitable path

Profit of €34,8m after tax – further strengthening of financial indicators 

For the first 9 months of 2019, Eurobank Cyprus Ltd (“Eurobank Cyprus”) presented:

•    Satisfactory and repeated profit, which rose to €34,8m after tax. 

•    Strong capital position, with Capital Adequacy Ratio and Common Stock Index (CET1) amounting to 22,6%.

•    Substantial excess liquidity, with deposits reaching €5.638m and the loan-to-deposit-ratio (excluding loans secured by deposits) amounting to 29%.

•    Very good loan portfolio, with Non-Performing Loans (NPL ratio based on guidelines by the European Banking Authority, EBA) remaining low at 4,1%.

•    An efficient management of operating costs, with the Cost-to-Income ratio at 34%.

The Bank’s strong financial position, as exemplified by successive positive results, has consolidated its leading presence in Cyprus in the field of Wealth Management, Corporate and Investment Banking, International Business Banking, and Capital Markets. 
Reoccurring positive results prove that Eurobank Cyprus continues to grow with steady steps, based on its customer-centric operating model and correct risk management. As such, we continue to support the economy and sustainable development initiatives, while also creating jobs based on our business growth. 

Eurobank Cyprus remains positive about the future of our country and the prospects of further development. Cyprus’ GDP growth-rate remains strong at 3,2%, while operating at a substantial budget surplus that exceeds Eurozone performance. This reflects both the prudent fiscal policy and strong recovery of the Cypriot economy. However, there is a need for the correct management of budget surpluses and the acceleration of the reduction of public debt, so that Cyprus, as an open economy, can protect itself from any external impact. Promoting discipline regarding public expenditure is imperative for dynamic and sustainable growth, with a social consciousness. 
Eurobank Cyprus Ltd is a Cypriot company established in 2007 and is governed by all laws and regulations of the Republic of Cyprus.

 
  2019
9 months
€’m.
 
2018
12 months
€’m.
 
Total Loans 2.027 2.150
Total Deposits 5.638 4.840
Funds and other Reserves 486 445
Profit before tax 44.7 55.1
Profit after tax 34.8 42.5



















 

INFORMATION REGARDING THE WORKING HOURS OF OUR BANKING CENTERS - COVID-19

06 апреля 2020

We communicate again, following our previous relevant announcement, to inform you that the working hours for over the counter transactions at the Banking Centers of Eurobank Cyprus are amended as follows, as from Wednesday 8 of April 2020 and until further notice:
 
Monday - Friday : 8:15 - 14:00

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Loan installment and interest suspension - COVID-19

03 апреля 2020

Our Bank responding to the adverse conditions due to the Covid-19 pandemic and based on the Decree issued by the Ministry of Finance on 30 March 2020, under which the obligation to pay installments on facilities granted by financial institutions, including the relevant interest, is suspended for the entities considered Eligible*, would like to inform you of the following: 

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New Statement Policy

31 марта 2020

As part of our Bank’s commitment to environmental sustainability, we kindly inform you that a letter has been mailed to the Bank’s customers indicating that the frequency of the mailing of printed statements for current and notice accounts to customers will be restricted to once a year and for overdrafts to twice a year with effect from 01/06/2020

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