Bank of Cyprus announces $3.7b in losses for 2012

NICOSIA, Oct 11, 2013 (AFP) - The Bank of Cyprus, the crisis-hit Mediterranean island's largest lender, on Friday announced losses of 2.21 billion euros (S$3.7 billion) in 2012, exceeding its 2011 losses by more than 60 per cent.

It said profit before impairments and restructuring costs was 620 million euros in 2012, down 22 per cent from 797 million the year before.