Net interest income fell in 2017, the year in which Bank of Cyprus fully repaid the remaining emergency central bank liquidity, to €94.5m compared with €121.5m the year before, the central bank said. Net revenue from fees and commissions rose to €17.5m from €11m.

Staff expenses fell last year to €27.9m from €28.6m the year before, while administrative expenses fell to €10.1m from €10.7m. Total spending fell to €43.1m from €43.4m.

An amount of €25.8m will be transferred to the central bank’s general capital reserve compared with €14.8m a year before, while the government will receive €23.7m this time around, compared with €59.4m a year ago, the bank supervisor said.

The government made a €614.9m early debt repayment to the central bank in November.

Source: Cyprus Mail