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Bank of Cyprus, the island’s largest lender, returned to profitability in 2021, following the losses of the pandemic-hit 2020, while setting its sights to a 5% Non-performing loan (NPL) ratio by end-2022 and dividend distribution from 2023 onwards its first since full-year 2010. The Bank posted a €30-million profit after tax in 2021 compared with a net loss of €175 million in 2020, while it reduced its NPL ratio to 7.5% due to two NPL transactions (Helix 2 and 3) with …
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