banks profitability

A Stellar Year for Cypriot Banks: Return on Equity Hits New Highs in 2023

The return on equity (ROE) for Cypriot banks skyrocketed to 24.6% in 2023, a massive leap from the previous year’s 4.8%, showcasing exceptional financial success and strategic management. This remarkable increase in profitability reflects a strong economic environment and the banks’ effective financial initiatives, solidifying their resilience and efficiency for sustained growth and competitiveness in the financial sector.