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Financial Mirror (Cyprus) - - FRONT PAGE -

The Co-oper­a­tive Cen­tral Bank, that was bailed out by the state with a EUR 1.5 bln in­jec­tion, recorded a net profit of EUR 85.6 mln in the first half of the year, with its Chair­man Ni­co­las Had­jiyian­nis say­ing the bal­ance sheet is ro­bust and the re­sult of the ECB stress tests will be man­age­able.

He said non-per­form­ing loans (NPLs) to­talled 53.1% of to­tal loan port­fo­lios in the first half of the year and the rate of in­crease slowed down to 54.5% at present.

“The re­sults are very sat­is­fac­tory, as the Co-op­er­a­tives con­tinue to be on a prof­itable growth path. The Co­op­er­a­tives have a net profit of EUR 85.6 mn and op­er­at­ing

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