Bank of Cyprus First-Half Loss Widens on Provisions, Bonds
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Bank of Cyprus Pcl, the island’s largest lender, said its first-half loss widened by 25 percent after increasing provisions for bad loans and reducing the value of Greek government bonds.
The net loss in the six months to June 30 widened to 134 million euros ($167.5 million) from a loss of 107 million euros in the same period of 2011, according to an e-mailed statement today from the Nicosia-based lender.