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Bank of Cyprus posts 81 mln profit in first half
August 27, 2014 / 4:07 PM / 3 years ago

Bank of Cyprus posts 81 mln profit in first half

NICOSIA, Aug 27 (Reuters) - Bank of Cyprus, the Cypriot lender which recapitalized last year using clients’ deposits, posted a first-half net profit to shareholders of 81 million euros ($106.87 million), it said on Wednesday.

The results were preliminary and have not been reviewed by external auditors, it said. The profit figure was released ahead of an extraordinary shareholders’ meeting on Aug. 28, where they would be called upon to approve a 1 billion euro capital increase. Auditor-reviewed results would be issued on Aug. 29.

Bank results are not directly comparable to past earnings because of the bail-in of depositors in 2013. (1 US dollar = 0.7579 euro) (Reporting by Michele Kambas, editing by Louise Heavens)

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