Bank of Cyprus posted robust earnings

Macro/Political:

• The Turnover Value Index of Retail Trade (except of motor vehicles) for June 2026 increased by 8.3% compared to the corresponding month of the previous year. For the same month, the Turnover Volume Index of Retail Trade increased by 5.5% compared to the corresponding month of previous year.
  Source: CyStat

Markets:

• Bank of Cyprus’s profit after tax in 2Q26 stood at EUR 131mn compared to EUR 121mn in 1Q26. 1H26 net profit stood at EUR 300mn versus EUR 278mn in 1H25. The Bank’s NPE ratio was 1% and NPE coverage ratio at 149%. Total Capital ratio and CET1 ratio stood at 25.8% and 20.9% respectively.
  The Bank’s CEO, Panicos Nicolaou, stated that the bank delivered excellent financial results in 1H26, reflecting its diversified and efficient business model and continued strong performance. He also added that the Cypriot economy remains robust despite ongoing global uncertainty, with tourism in June 2026 gradually recovering to 2025 levels.
  Source: Euronext Athens