Investor Presentaiton
Income Statement Review
€ mn
FY2015
FY20143
yoy %
4Q2015
3Q20154
qoq %
Net interest income
Fees and commission income
Insurance income net of insurance claims
Core income
Other income
-13%
198
205
-4%
842
969
154
152
1%
38
36
7%
48
46
5%
16
12
39%
1.044
1.167
-11%
252
253
(4)
1
1
(2)
141%
Total income
I I
1.040
1.168
-11%
253
251
1%
Total expenses
(416)
(427)
-3%
(119)
(102)
16%
Profit before provisions and impairments¹
624
741
-16%
134
149
-10%
Provisions for impairment of customer loans net of gain on derecognition of
loans and changes in expected cash flows on acquired loans
(959)
(770)
25%
(630)
(96)
560%
Impairments of other financial and non financial assets
(62)
(90)
-31%
(24)
(6)
313%
Share of profit from associates
6
5
22%
2
1
(Loss)/profit before tax, restructuring costs and discontinued operations
(391)
(114)
244%
(518)
48
Tax
(9)
(11)
-15%
8
Loss attributable to non-controlling interests
6
19
-64%
1
(Loss)/profit after tax from continuing operations²
(394)
(106)
271%
(509)
Restructuring costs
(43)
(36)
20%
(16)
8555
(8)
45
205%
Loss from disposal group held for sale/discontinued operations
(38)
(166)
-77%
0
(9)
-100%
Net gain/(loss) on disposal of non-core assets
37
47
-22%
13
(18)
-177%
(Loss)/profit after tax
(438)
(261)
68%
(512)
13
Net interest margin
Cost-to-Income ratio
379 bps
40%
394 bps
-15 bps
369 bps
370 bps
-1 bp
37%
+3 p.p.
47%
41%
+6 p.p.
(1) Profit before provisions and impairments, gains on derecognition and changes on expected cash flows on acquired loans, restructuring costs and discontinued operations.
(2) (Loss)/profit after tax and before restructuring costs, discontinued operations and net profit on disposal of non-core assets.
(3) The FY2015 is not comparable to the FY2014 given the significant deleveraging completed since then, including, among others, the partial repayment of the sovereign bond
held by the Bank, by the Republic of Cyprus on 1 July 2014, and the disposal of the majority of the Russian operations during 3Q2015.
(4) As from 4Q2014, the Group's operations in Russia are treated as disposal group held for sale and results have been presented accordingly as discontinued operations
according to IFRS5. In September 2015, the Bank completed the sale of the majority of its Russian operations. The part of the operations not disposed of, has ceased to be
classified as held for sale and its results are presented as part of the continuing operations.
Bank of Cyprus
24
DINOView entire presentation