Income Statement and Eurosystem Funding Review
Cyprus operations: key driver of Group performance
High NIM Cyprus operations - supported by high
funding reliance on Eurosystem funding
Lower Cost to Income ratio for Cyprus operations
(bps)
423
377
372
384
379
386
354
314
50%
43%
38%
FY2014: 385
FY2013: 353
35%
35%
31% 31%
33%
1H2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 4Q2014 1Q2015
1H2013 9M 2013 FY2013 1Q2014 1H2014 9M 2014 FY2014 1Q2015
Historical fee and commission income / total income
for Cyprus operations
Evolution of Cost of risk* for Cyprus operations
0,7
1,0
0,29
0,30
0,25 0,27
0,26
19%
13%
14%
12%
15%
12%
3,9%
16%
3,7%
3,7%
81%
87%
86%
88%
85%
88%
84%
2012
2013
Other income
1Q2014 2Q2014 3Q2014 4Q2014 1Q2015
Fee and commission income
Total income (€ bn)
2,6%
1,9% 2,4%
2,2%
2,3%
1H2013 9M 2013 FY2013 1Q2014 1H2014 9M2014 FY2014 1Q2015
* Cost of risk for the Cyprus operations has been calculated as provisions for impairment of loans / average gross
loans. Gross loans are before the deduction of the fair value adjustment on initial recognition relating to loans
acquired from Laiki Bank.
Bank of Cyprus
14
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