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Bank of Cyprus reports first-quarter profits

Bank of Cyprus reported on Friday the 30th of May 2014 its first profits in seven quarters.

First-quarter profit after tax was 31 million compared to a 103 million loss in the last quarter of 2013. Profits after tax and before restructuring costs and discontinued operations came in at 72 million Euros compared with a 38 million Euros loss in the last quarter of the previous year.

These figures represent strong evidence to suggest that Bank of Cyprus is on a good track and making significant progress.

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