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Bank of Cyprus forecasts positive financial results for the first quarter

As it can be seen from the press-release of the bank, the board of directors of Bank of Cyprus plans to discuss its financial results for the first quarter of 2015. According to preliminary information that is referred to by Stock Watch, operational profit for the first quarter will not greatly exceed the result of the fourth quarter of 2014, which was 202 million euro. Together with this, major reduction of contributions to reserves and devaluation of loan portfolio will enable the bank to demonstrate positive financial result after the taxation, after the loss of 337 million, it was noted in the last quarter. “Liquidity indicators continue to improve, the result of the influx of clients is already seen in the first quarter”, – it says in the bank’s statement.