Investor Presentaiton
Asset Quality
Top 20 group exposures
Top 20 customer groups exposure € bn
Top 20 90+DPD ratio
78%
79%
79%
Top 20 90+ DPD € bn
Top 20 90+DPD provision coverage
80%
73%
46%
41%
42%
41%
3,51 2,74
3,42 2,71
3,39 2,69
3,21 2,56
Dec-14
Mar-15
Jun-15
Sep-15
47%
3,15 2,30
Dec-15
Top 20 group exposures reduced by 10% during
FY2015 to €3,15 bn at 31 December 2015;
90+ DPD ratio for Top 20 group was reduced to 73%
at 31 December 2015, while the 90+ DPD provision
coverage improved to 47%
During 4Q2015, about 6 clients of the Bank's top
exposures (or parts of group exposures) reached a
consensual agreement for the restructuring of their
lending with the Bank. Some of these cases have been
executed in 4Q2015 contributing materially to the
reduction of 90+ DPD, whilst further completions are
expected in 1Q2016.
Set up of Real Estate Management Unit (REMU)
The Bank has set up REMU in order break the systemic inertia that exists today with defaulting borrowers in the real estate
sector by taking ownership of assets, reducing unsustainable debt burden of both corporate and retail borrowers, and
assisting also the Cyprus economy into recovery.
The Bank recognises that the real estate market poses significant challenges but remains confident that with measured
and professional approach underpinned by a genuine real estate focus and support from external advisors and all
stakeholders, the Bank can crystallise benefits for itself and the economy.
Main objectives of the REMU are: (a) provide solutions for distressed borrowers, (b) accelerate the recovery process for
both the Bank and the local real estate market, (c) to strengthen the Bank's balance sheet and (d) to monetise such assets
at the appropriate time.
DINO
Bank of Cyprus
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