Cyprus’ biggest banks are still posting hefty profits this year, even as the era of sky-high earnings seen in 2023 and 2024 begins to run out of steam. The three systemic banks (Bank of Cyprus, Eurobank Limited and Alpha Bank Cyprus) reported more than 750 million euros in net profits for the first nine months of 2025. That’s lower than last year’s €953 million, but still far above what many in the sector expect to see again anytime soon.
There is one caveat: The €953 million figure includes the entire banking system, based on central bank data. Even if numbers from all other banks were added to this year’s tally, total profits would still struggle to reach even €800 million.
On Tuesday, Bank of Cyprus announced €353 million in net profits for the nine-month period, against €401 million a year earlier. Eurobank no longer reports separate figures for its Cypriot subsidiary, but its latest group results show €370 million in profits, a 10.3% increase on last year.
Alpha Bank Cyprus and Astrobank, which merged earlier this year, posted a combined €42 million in profits for the first half of 2025, which likely translates to around €60 million for January-September.