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Bank of Cyprus records surge in profits for 2023

The Bank of Cyprus announced a surge in profits for 2023, reaching €487m compared to €57m in 2022, approaching pre-crisis levels of 2013.

“The results of the bank were excellent, the net profit after tax is close to 500 million”,  CEO Panikos Nikolaou, said.

According to the bank, new lending amounted to around €2 billion despite the increase in interest rates.

Famagusta Gazette