NICOSIA (AFP) – Bank of Cyprus said Wednesday it posted a 256 million euro loss for 2014, mainly on increased provisions for exposure to Russia.The results of the fourth quarter… were negatively affected by increased provisions relating… to impairments in Russia, CEO John Patrick Hourican said in a statement.The loss after tax for the year totalled 256 million euros ($291 million), compared with two billion euros a year earlier.However, excluding restructuring costs, discontinued operations and net profit on disposal of non-core assets, the bank made a full-year profit after tax of 42 million.That compares to a loss, on the same …read more
Source: Dunya TV
