EUROBANK in Cyprus made a profit of €13.2 million after taxes during the first half of this year it announced on Wednesday.

“Eurobank Cyprus retained during the first half of 2013 a satisfactory recurring profitability, which amounted to €13.2 million after taxes, and has a strong capital adequacy ratio of 38.7 per cent,” a Eurobank statement said.

According to the financial report for the first six months of this year which were announced yesterday, the bank has a large surplus in liquidity and low operational costs.

“We have strengthened our already leading presence in the fields of corporate banking, private wealth management, international corporation banking and capital markets despite the events in March which affected the economy,” the statement added.

The bank said there is hope that the economy could recover from the current situation sooner than expected if the agreements in place are met.

“By utilising its strong capital competence, excess liquidity and low cost base Eurobank Cyprus will continue to actively support the economy,” the statement concluded.

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