raised taxation on OPAP’s revenue by 5 percentage points to 35 percent as part of an international bailout, the third since 2010. Core profit – earnings before interest, tax, depreciation and amortization (EBITDA) – dropped to 83.7 million euros from 103.6 million euros in the fourth quarter of 2015. Net profit rose 6.7 percent to 55.1 million euros, helped by the absence of a one-off impairment that was booked in the last quarter of 2015. OPAP will pay a dividend of 0.72 euro a share, up from 0.40 euro on 2015 results. Gross gaming revenue dropped 0.5 percent to 399.6 million euros, mainly due a weaker performance of its lottery business. sues in the indebted country’s current bailout talks. Short-dated Greek bond yields fell to a two-month low of 7.47 percent and were last down 50 basis points. Greece’s 10-year government bond yield fell more than 30 basis points to a five-week low at 6.93 percent. “There’s been reports that the government could be close to an agreement with lenders, though this is yet to be confirmed by the Greek government; this is why the yields are falling,” said DZ Bank strategist Daniel Lenz.
Bank of Cyprus said John Hourican will remain as its chief executive until the end of 2018, once again extending his stay. Hourican, the former head of investment banking at Royal Bank of Scotland, had been due to leave Bank of Cyprus in February 2018 but said its board agreed on Tuesday to extend his appointment.