The Bank of Cyprus announced its results for the first nine months of 2025 on Tuesday. Its profit after tax was €353 million. This is 12% lower than the same time last year. The main reason is that the bank earned less money from interest.
Even with this lower profit, the bank is feeling positive about the future. It has decided to increase the money it gives to its shareholders. It also raised its targets for the whole year. The bank wants to grow and is planning to start more business in Greece.
The drop in profit happened because the bank's total income fell by 7%. The money it makes from interest went down by €76 million. This is a common problem for banks now because interest rates are not rising like before.
However, the bank showed many good points. Lending to customers grew very well, increasing by 31%. The amount of bad loans is now very low, at only 1.2%. The bank also earned more money from services that are not based on interest, like insurance.
The CEO, Panicos Nicolaou, said the bank's basic business is strong. He mentioned they are ahead of their goal for loan growth this year. Because the bank is in good health, it can pay high dividends to its investors.
The bank is also planning for new competition in Cyprus. In response, it wants to become stronger at home and in other countries. The bank will share its new long-term strategy in early 2026.