Bank of Cyprus nine-month profit rises 9% to €383 million; deputy minister ends Silicon Valley visit

Nicosia, Cyprus. Bank of Cyprus announced on Thursday a post-tax profit of €383 million for January to September 2026, 9 per cent more than a year earlier, and lifted its full-year return on tangible equity (RoTE) outlook to the high teens.

Bank of Cyprus results

The lender, a major participant in the Cypriot financial sector, attributed the performance to strong growth in lending and deposits, healthy fee income and tight control of costs. Its RoTE for the nine-month period stood at 18.9 per cent, and basic earnings per share rose 9 per cent from a year earlier to €0.88.

Related: Cyprus Deputy Minister Ends Silicon Valley Talks as Government Courts US Investment

RelatedCyprus Deputy Minister Ends Silicon Valley Talks as Government Courts US Investment

Third-quarter post-tax profit came to €131m, broadly in line with the previous quarter.

Chief executive officer Panicos Nicolaou said: “We continue to execute our strategy by delivering solid lending and deposit growth, whilst maintaining cost discipline and prudent underwriting standards.” He added that the figures reflected the bank’s ongoing strong financial and operational results, underpinned by a solid capital base. He also noted that the €383m profit, 9 per cent higher year-on-year, produced the RoTE of 18.9 per cent.

Damianou at Plug and Play summit

Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou completed two days of meetings at the Plug and Play Silicon Valley Winter Summit. The aim was to strengthen Cyprus’ international innovation links and open new opportunities for local companies.

On Thursday, Damianou said the trip had centred on widening connections between the Cypriot innovation ecosystem and international networks, investors and markets, as the government intensifies its efforts to attract American investment. He described the event this way: “Two very productive days at the Plug and Play Summit 2026 in Silicon Valley, focused on strengthening the international connections of our ecosystem and creating new opportunities for collaboration.”

The summit is part of a broader push by Cyprus to present itself as a regional technology and innovation hub and to deepen ties with the American business community.