Preliminary Group Financial Results for the year ended 2014
Key Takeaways
Leading financial institution in an economy that is on the road to economic recovery
CET1 ratio at 14,0% (transitional basis); capital position shields the Group from further
shocks and helps in regaining trust of counterparties
Completion of review of AQR results and reduction of net exposure to Russia results
in increased provisions for 4Q2014
➤ Stabilising deposit base, with 4Q2014 deposits in Cyprus increasing for the first time
since bail-in; all blocked decree deposits released ahead of plan and majority of them
retained with the Bank; customer inflows every month since May 2014 (with exception of
August 2014)
ELA reduced through deleveraging actions, capital proceeds and customer inflows
RRD up and running with signs that actions are yielding results, despite the lack of the
appropriate legal infrastructure
Loan quality showing signs of stabilisation; 90+ DPD reduced by 3% during
4Q2014; imperative that the Bank is given the tools to engage effectively with borrowers
Recurring profitability stabilising
Bank of Cyprus
KOINO
WKYNРIW
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