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Banks' profits at €952.5 million after taxes for Jan-Sep 2024

07:41 - 15 January 2025

Financial Services Reporter

The total profits of Cypriot banks for the period from January to September 2024 amounted to €952.5 million after taxes, up from €602.92 million at the end of June 2024, according to the updated aggregated data for the Cypriot banking sector released by the Central Bank of Cyprus (CBC).

The net interest income of Cypriot banks reached €1.53 billion by the end of the nine-month period, up from €1.033 billion at the end of June 2024.

Total net operating income amounted to €1.88 billion, compared to €1.22 billion at the end of June 2024.

Furthermore, original owned funds (Tier 1 capital) of Cypriot banks, which is used for solvency purposes, increased to €6.34 billion by the end of September 2024, up from €6.31 billion at the end of June 2024.

Risk-weighted assets (RWA) amounted to €22.83 billion by the end of September 2024, down from €22.91 billion at the end of June 2024.

It is noted that the total profits of Cypriot banks, after taxes, had reached €1.26 billion for the entire year of 2023.

(Source: CNA)

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