NICOSIA: Cypriot lender Bank of Cyprus posted a net profit of 73 million euros ($77.5 million) in the first nine months of the year, it said on Monday, compared with 76 million in the corresponding period of 2014.
The bank said it was engaged in a dialogue with the European Central Bank (ECB) on its capital position and did not expect to be required to raise any capital.
Bank of Cyprus, which was forced to "bail-in" uninsured clients' deposits in Cyprus's financial crisis of 2013 to plug capital shortfalls, said it had a common equity Tier 1 (CET1) ratio of 15.6 percent, an increase of 70 basis points on a quarterly basis.
"We are engaged in an ongoing regulatory dialogue with (the) ECB for the SREP (Supervisory Review and Evaluation Process) and we do not expect the group to be required to raise any capital," CEO John Hourican said in a statement.
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