**Bank of Cyprus Updates Financial Roadmap Following Robust Profit Rise**
The Bank of Cyprus (BoC) has announced an updated corporate financial calendar, highlighting key dates for its upcoming interim dividend distribution and future earnings announcements. This update comes in the wake of a strong financial performance during the first half of 2026, where the bank reported a profit after tax of €252 million, a 7% increase compared to the same period last year.
The revised financial calendar specifies that the ex-interim dividend date is set for September 21, 2026. Investors purchasing shares from this date onward will not be eligible for the interim payout. The record date for determining eligible shareholders has been established as September 22, 2026. Shareholders on this list will receive their cash payments on the interim dividend payment date of October 21, 2026.
Looking ahead, the Bank of Cyprus has scheduled the financial results and analysts' briefing for the first nine months of 2026 for November 5, 2026. All financial results will be published before the opening of trading on both the Athens Stock Exchange and the Cyprus Stock Exchange, with analysts' briefings occurring later that same day. The bank has reserved the right to change these dates, provided that timely notifications are communicated to the public.
The announcement of the updated calendar follows the bank's recent financial disclosures, which revealed a significant increase in profitability. The board of directors has approved a 20% higher interim dividend of €0.24 per ordinary share, amounting to approximately €105 million. This increase reflects a payout ratio of 44% on the bank's first-half earnings, underscoring the institution's solid financial footing.
Panicos Nicolaou, the group chief executive, attributed the bank's strong performance to several factors, including robust lending growth, resilient asset quality, and a strong capital position. He stated, “We delivered excellent financial results in the first half of 2026, reflecting our diversified and efficient business model and continued strong performance.”
In the second quarter alone, the bank generated a profit of €131 million, contributing to a return on tangible equity of 18.8% for the first half of the year. This figure remains comfortably above the bank's full-year target, which is set in the mid-teens. Basic earnings per share for the period reached €0.58, while the bank maintained a disciplined approach to cost management, achieving a cost-to-income ratio of 36%.
The Bank of Cyprus also reported significant growth in its lending portfolio, with gross performing loans increasing to €11.4 billion. This marks a 5% rise since the beginning of the year and an 8% increase compared to the same period in 2025. Additionally, the bank's deposit base, which is predominantly retail-funded, reached €22.8 billion, reflecting a year-to-date increase of 3% and a 9% increase year-on-year.
The updates and positive financial results indicate a promising trajectory for the Bank of Cyprus as it continues to navigate the competitive banking landscape. Investors and analysts alike will be closely monitoring the forthcoming announcements and the bank's ongoing performance in the latter half of the year.