Income Statement and Eurosystem Funding Review
Net Interest Income and Net Interest Margin
Net Interest Income (€ mn) and Net Interest Margin (bps)
390
Interest income from Laiki Recapitalisation bond
Net interest income (other)
NIM
423
394
382
381
263
248
231
225
44
43
26
26
225
25
205
219
205
199
200
1Q2014
2Q2014
3Q2014
4Q2014
1Q2015
Evolution of Yield of Loans, Cost of Deposits and
Customer Spread in Cyprus operations
*
Jan-15 Feb-15 Mar-15
%
1Q2015
• 1Q2015 Group Net Interest Income (NII) at €225 mn;
Group Net Interest Margin (NIM) at 3,94%,
compared to 3,81% for 4Q2014
•
•
NII and NIM continue to reflect market conditions in
Cyprus and the composition of the Group's funding,
with Eurosystem funding accounting for 29% of
assets as at 31 March 2015.
Following CBC's decision to reduce the deposit
interest rate cap ceiling from 3% to 2% above
market rates, the Bank lowered its base rate lending
rates in March 2015 by 1%, with lower lending rates
expected to help economic activity
Customer spread in Cyprus at 4,34% for 1Q2015
5,73%
5,92% 5,82%
5,45%
1,39%
1,45% 1,41% 1,31%
4,34%
4,47% 4,41% 4,14%
III
Yield on Loans
Cost of Deposits
Customer spread
Bank of Cyprus
KOINO
WKYNРIW
* It relates to all currencies
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