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Cyprus banks’ Core Tier 1 slightly up at 12%

25 March, 2014

The capital adequacy ratio of all Cyprus banks marginally improved at the end of December, by 0.1 percentage point to a combined Core Tier 1 level of 12%, quarterly data from the Central Bank of Cyprus showed.
The same collective benchmark for the Cooperative Credit Societies, prior to their merger this year, stood at 10.5%.
In efficiency levels, the combined cost-to-income ratio of all banks improved to -52.8% from -56.2% a year earlier, with the voluntary redundancies and the resolution of Laiki Popular Bank reducing the staff costs to 62.4% of all operating expenses, an improvement from 64.4% at the end of September, but still higher than the year-earlier level of 58.6%.