Nicosia (AFP) – Troubled Bank of Cyprus, the island’s largest lender, said Wednesday it made 50 million euros ($66 million) net profit in the second quarter, its second successive quarterly gain after seven straight losses.For the six months ending in June, the bank made after tax profits of 81 million euros, following a 31 million positive result in the three months to March.The cost to income ratio for the first half dropped to 38 percent from 47 percent for 2013 as a whole.However, customer deposits shrank 8 percent to 13.80 billion euros as of June 30 from 14.97 at end-December, …read more
Source: Business Insider
