Bank of Cyprus says Q1 net profit down 46 pct

NICOSIA, May 28 (Reuters) - Bank of Cyprus BOC.CY (BOCr.AT) saw a 46 percent drop in its first-quarter net profit to 63 million euros ($87 million), it said on Thursday.

Group net interest income declined 2 percent to 181 million euros while pre tax profit fell 41 percent to 79 million euros compared with a year ago, the bank said. ($1=.7207 euros) (Writing by Michele Kambas; Editing by Greg Mahlich)