The total profits of Cypriot banks after all taxes in the first half of 2024 rose to €602.92 million from €345.64 million at the end of March 2024.
This was announced by the Central Bank on Monday, 23 September.
Net interest income of local financial institutions totalled €1.03 billion in June 2024 against €519.19 million in March 2024, while total net operating income increased to €1.22 billion from €660.31 million. Provisions for bad loans increased by €8.48m from €20.34m in March 2024.
In addition, the total capital of Cypriot banks increased to €6.13bn at the end of June 2024 from €5.82bn three months earlier.
Risk Weighted Assets (Risk Weighted Assets) stood at €22.91bn at end-June 2024, up by around €280m since end-March. Finally, total capital requirements on banks totalled €1.83 billion, up from €1.81 billion in March.