Eurobank Cyprus profits reach €35 mln

Eurobank Cyprus, the wholly owned subsidiary of the EFG Eurobank Group, announced post-provision and after-tax profits of EUR 35 mln for 2013.
The bank said that its capital adequacy rate is at a healthy 45% with significant liquidity which allows it to fund the Cypriot economy and support development initiatives.
Eurobank Cyprus said that its loan portfolio is of a high caliber which allows this to act as a buffer against risks that are ongoing in the Cyprus economy.
The bank has also won the ‘best private bank’ accolade for the forth time in the past five years and said it is determined to continue to provide quality banking products and financial services.
The bank’s balance sheet stood at EUR 3.68 bln as at the end of 2013, with a loan portfolio of EUR 1.74 bln and deposits at EUR 2.47 bln. Its capital and reserves were 608 mln.