Group Financial Results H1 2016
Reduction in Overseas Non-Core Exposures
Overseas non-core exposures (€ mn)
The non-core overseas exposures at 30 June 2016 were as
follows:
Greece: Net exposure comprised:
639 foreclosed properties with a book value of
€164 mn;
off-balance sheet exposures of €119 mn; and
lending exposures to Greek entities in the
normal course of business in Cyprus of
(a)
Net on-balance sheet exposures (excluding
foreclosed properties) totalling €13 mn;
1.105
(b)
1.040
140 528
957
139 512
911
(c)
870
35
133
477
(d)
151
132
464
56
158
49
131
521
199
122
225
22
192
16
119
173
54
168 I
13
54
54
54
164
368
42
354
312
274
262
155
120
114
119
Jun-15
Sep-15
Dec-15
Greece other¹
Mar-16
45
Jun-16
Greece net off balance sheet exposure
■Greece net on balance sheet exposure Greece Foreclosed Properties
■ Serbia
■Russia: Net exposure
■Romania: Net Exposure
€81 mn, and lending exposures in Cyprus with
collaterals in Greece of €144 mn.
Romania: Overall net exposure of €262 mn
Serbia: Overall net exposure of €42 mn
Russia: Remaining net exposure (on and off balance sheet)
in Russia significantly reduced to €45 mn during 2Q2016
following the full settlement in cash of the deferred
component of the asset swap arrangement which resulted
from the agreement for the disposal of the Russian
operations
As part of the Group's strategy of focusing on its core
businesses and markets, the Group decided to close the
operations of Bank of Cyprus Channel Islands Ltd (BOC CI)
and to relocate its business to other Group locations. As at
30 June 2016 the gross loans and deposits of BOC CI
amounted to €24,5 mn and €69,4 mn respectively. BOC CI
operates through one branch and has one employee.
(1) Lending exposures to Greek entities in the normal course of business in Cyprus and lending exposures in Cyprus with collaterals in Greece
Bank of Cyprus
KOINO
KYMPI
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