The Bank of Cyprus (BoC) on Monday announced that its board of directors will meet on August 4, 2025, to examine the financial results for the Bank of Cyprus Group for the first half of the year.

The meeting will also consider the declaration and payment of an interim dividend for the six months ended June 30, 2025.

Moreover, the bank said that the financial results will be released on August 5, 2025, before the market opens.

They will be published simultaneously to the Athens Stock Exchange (ATHEX) and the Cyprus Stock Exchange (CSE).

It should be recalled that the Bank of Cyprus posted a profit after tax of €117 million for the first quarter of 2025, representing a 9 per cent increase compared to the previous quarter.

In its announcement in May of this year year, the bank said that basic earnings per share stood at €0.27, while Return on Tangible Equity reached 18.3 per cent, exceeding the bank’s full-year target.

Group Chief Executive Panicos Nicolaou said the bank had delivered another strong quarterly performance, despite the impact of falling interest rates.

He stated that the cost-to-income ratio was at 34 per cent, non-performing exposures remained below 2 per cent and the cost of risk was under 40 basis points.

Gross performing loans rose 3 per cent from December 2024 to €10.45 billion, supported by record new lending of €842 m, a 16 per cent increase quarter-on-quarter.

Retail-funded deposits edged up 1 per cent to €20.7 billion, while the Common Equity Tier 1 (CET1) ratio improved to 19.9 per cent and the Total Capital ratio reached 25 per cent.

Nicolaou then highlighted the bank’s acquisition of Ethniki Insurance Cyprus Ltd in April 2025, which he said would further strengthen the group’s leading positions in the Life and Non-Life insurance sectors in Cyprus.

Indeed, the bank has since announced the completion of its acquisition of 100 per cent of Ethniki Insurance Cyprus Ltd, following a binding agreement signed with Ethniki Hellenic General Insurance Company S.A. on April 14, 2025.

The consideration for the transaction amounts to €29.3 million paid in cash, reflecting price adjustments in line with the customary terms of the binding agreement.