The Central Bank of Cyprus (CBC) has disclosed that Cypriot banks achieved total post-tax profits of €952.5 million during the first nine months of 2024. This marks a significant increase compared to €602.92 million recorded by the end of June 2024.

These figures were included in the CBC’s recently released consolidated statistics for the Cypriot banking sector.
The report highlighted robust growth in net interest income, which surged to €1.53 billion by the end of September 2024, compared to €1.033 billion at the end of June. Similarly, total net operating income experienced a substantial rise, reaching €1.88 billion, up from €1.22 billion during the same period.
The CBC also noted a slight increase in total equity capital available for use in the event of a bank failure, which grew to €6.34 billion by the end of September, from €6.31 billion at the end of June 2024.
In contrast, risk-weighted assets—a critical indicator of a bank’s financial health—saw a marginal decline, standing at €22.83 billion at the end of September, compared to €22.91 billion at the end of June.
For additional context, the CBC pointed out that the total post-tax profits for Cypriot banks in the entirety of 2023 amounted to €1.26 billion.
These figures underscore the steady financial performance of Cypriot banks in 2024, reflecting a strong upward trend in profitability and operational income, despite minor fluctuations in key financial indicators.
By fLEXI tEAM
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