The Bank of Cyprus recently reported a satisfactory increase in profits. The Cypriot Bank's operating profits jumped by 53.1 percent to CYP 61.4 million, of which CYP 51.11 million originated from banking operations, while CYP 10.33 million was derived from insurance, financial, real estate and hotel activities. (1.00 CYP =1.48590 US$)
After-tax profits soared to CYP 33.15 million, compared to CYP 22.49 million last year, the Financial Mirror reported. A company announcement revealed that excellent performances of banking operations both in Cyprus, Greece, and in the insurance companies, contributed to the profit increase. —(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
