Group Financial Results H1 2016
Sustainable Asset Quality Improvement across the RRD book
Focus in unlocking the Recoveries portfolio. Results are encouraging
Business unit summary (€ bn)
5,3
5,2
5,1
0,6
Inflows/ Outflows to
Recoveries (€ bn) in 1H2016
0,7
0,8
0,7
0,8
0,8
0,4
■Rec- Retail Housing
⚫ Retail €1,5 bn, 21k customers
1,5
1,5
1,5
■Rec-Retail Other
0,2
•
SME €1,5 bn, 4k customers
■Rec-SMEs
2,4
2,2
2,1
Corporate €2,1 bn c.250 connections
■Rec-Corporates
Dec 15
Mar 16
Gross Loans
Jun 16
Inflows to Recoveries
Deleverage
Key management actions
• Management focus in improving skills and infrastructure to effectively manage the portfolio
Further support from international specialists from 4Q2015. Additional skills/experience transferred internally from other teams and specialised
units have been set up/enhanced (eg receivership and foreclosure team)
Analysis and segmentation of the Retail/SME portfolio
Recoveries
•
°
Increased focus on faster consensual deals (eg Debt: Asset Swaps)
Step up aggressive actions for non co-operative borrowers. Ramping up the pace in dealing with old unworkable portfolio
Foreclosures
Commencement of private foreclosures in late June 2016. So far 7 auction events conducted relating to 22 assets
Process without major impediments and some sales achieved (5 properties)
Additional tool added to the armory used to unlock solutions with problematic cases and non cooperative borrowers
Progress
Encouraging progress
• Refreshed approach in corporate is delivering results with significant contribution to the NPEs reduction
Retail/ SME showing slower but improving progress. Next quarters are important in keeping the momentum
•
Foreclosure actions are important to building & maintaining pace
Bank of Cyprus
9
KOINO
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