Performance and Capital Position Overview
Sustainable Improvements Across the RRD book
Bespoke tactical plans are in place for each segment within RRD, delivering asset quality improvements across the book...
Business unit summary
Major
Corporate
2,9
2,8
2,0
Management
(€ bn)
1,7
.
Gross Gross 90+
loans loans DPD
90+
DPD -
Corporate
Management
(€ bn)
Dec 15 Mar 16 Dec 15 Mar 15
• 23 connections
• >€100 mn debt
Large diversified
groups
Key management actions
⚫ c. 94 experienced restructuring officers
•
•
•
•
c200 connections
1,8
1,6
.
1,0
€6-100 mn debt
0,6
Gross
loans
Dec 15
Gross
loans -
90+
DPD -
90+
• Mid market
DPD-
Mar 16
Dec 15
Mar 16
businesses
•
Portfolios assigned based on size/complexity
Sustainable solutions using (amongst others):
Debt: Equity & Debt:Asset swaps
Retrenching, including 'equity like' PIK
Support from internationally experienced
restructuring specialists
External lawyers (UK & CY) used extensively
Comprehensive improvements to lending
documents, security, step in rights, monitoring
& covenants
Progress
Good progress
• Active negotiations ongoing with
all major borrowers
Good prospects to conclude and
execute deals
Good progress
•
• Active negotiations ongoing with
all major borrower
Good prospects to conclude and
execute deals
SME
(€ bn)
• c.1900
connections
<€6 mn debt
1,4
1,3
1,0 0,9
•
Gross Gross 90+ 90+
loans loans DPD DPD -
Dec 15 Mar 16 Dec 15 Mar 16
•
Small OMBS
Retail €1,5 bn,
21k customers
5,3
0.67 0.708 0,6
5,2 5,3 5,2
978
•
1,5
1,5
1,5 1,5
Recoveries
(€ bn)
•
SME €1,5 bn,
2,4
2,2
2,4
2,2
4k customers
Gross Gross
90+
90+
loans loans - DPD -
DPD-
Dec 15 Mar 16 Dec 15
Mar 16
RRD-Recoveries corporate
Corporate €2,2 bn
c.250 connections
e
• 8 specialist geographically spread BU's
New team added in 1Q2016 to drive pace
⚫ Portfolio analysis with targeted campaigns
•
• Product range enhanced e.g. split & freeze
Close monitoring & clearing of early arrears
•
•
International specialists added 4Q2015
Skills/experience transfer from other teams
Increased focus on faster consensual deals
Step up aggressive actions for non co-
operative borrowers
RRD-Recoveries SMEs
RRD-Recoveries Retail Other
RRD-Recoveries Retail Housing
Rapidly improving progress
New team and approach
delivering results
• Underlying economic
improvements helping
Slower but improving progress
Refreshed approach in corporate
is starting to deliver results
Foreclosure actions are important
to building & maintaining pace
Bank of Cyprus
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