Investor Presentaiton
Total expenses
Total expenses (€ mn)
9M 2014:
312
9M2015:
296
115
105
104
103
102
102
92
57
47
45
44
43
43
33
58
59
59
58
59
59
59
1Q2014 2Q2014 3Q2014 4Q2014 1Q2015 2Q2015 3Q2015
Staff costs Other operating expenses
Group Cost to Income Ratio
■Group ■Cyprus
38%
35%
37%
35%
37%
35%
36% 35%
35%
34%
33%
33%
31%
31%
1Q2014 1H2014 9M2014 FY2014 1Q2015 1H2015 9M 2015
•
•
•
Total expenses for 3Q2015 increased to €102 mn
from €92 mn for 2Q2015, but remained in line with
previous quarters. 2Q2015 operating expenses.
were exceptionally lower if compared to previous
quarters as a consequence of lower advertising,
consultancy and professional expenses that
incurred during the quarter. Staff costs for 3Q2015
at €59 mn in line with the previous quarters
Total expenses for 9M2015 totalled €296 mn
compared to €312 mn at 9M2014.
The cost-to-income ratio for the Group stood at
38% for 9M2015, compared to 36% for 1H2015
Actions to maintain a lean operating structure
include:
➤ Complete redesign and rationalisation of
branches
Align the IT strategy with business needs
➤ Digital Transformation
Improve organisational structure
Bank of Cyprus
KOINO
WKYNРIW
2235
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