Bank Of Cyprus Holdings Public Limited Company (BOCH) Q3 2025 earnings summary

Executive summary

• Maintains a leading position in Cyprus' concentrated, liquid banking sector, supported by a resilient, service-based economy growing faster than the Eurozone.

• Profit after tax for 9M2025 reached €353 mn, with ROTE at 18.4% and CET1 ratio at 20.5%, reflecting strong profitability and capital.

• New lending totaled €2.2 bn, up 31% year-over-year, mainly from international and corporate demand, with gross performing loans up 6% since December 2024.

• Cost to income ratio remained low at 35% for 9M2025, reflecting efficiency focus.

• Interim dividend of €0.20 per share paid in October 2025; total cash dividends for 2025 at €0.68 per share.

Financial highlights

• Net interest income for 9M2025 was €548 mn, down 12% year-over-year, with Q3 2025 at €180 mn, supported by hedging and volume growth.

• Non-interest income rose 7% to €219 mn, driven by insurance and fee growth.

• Total income declined 7% to €767 mn; operating profit fell 13% to €466 mn.

• Cost to income ratio at 35% for the nine months, expected to remain below 40% (excluding special levies) in 2025.

• EPS for 9M2025 was €0.81, and tangible book value per share increased 6% to €5.86.

Outlook and guidance

• FY2025 ROTE target upgraded to high-teens, with ROTE on 15% CET1 ratio expected to exceed 20% and net interest income expected at approximately €720 mn.

• Distribution target reaffirmed at 70% payout ratio for 2025, implying a high single-digit yield.

• Loan growth for 2025 is expected to exceed the 4% target, mainly driven by international lending.

• Cost to income ratio is expected to remain below 40%, and cost of risk is projected to stay under 40 bps.

• New financial targets and strategy to be updated in Q1 2026.