Income Statement and Eurosystem Funding Review
Overseas non-core operations
Disposing of overseas operations considered as non-core
•
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As part of its deleveraging strategy, and through specific, deliberate and well-timed actions, the Bank
continues to reduce its risk profile, to enhance its liquidity position and to improve its capital position
through the disposal of operations that are considered as non-core.
Post 31 March 2015 the Bank disposed of its investment in Marfin Diversified Strategy Fund Plc
The non-core overseas operations as at 31 March 2015 are as follows:
Greece: The net exposure comprised (a) net on-balance sheet exposures (excluding foreclosed
properties) totalling €76 mn (compared to €97 mn at 31 December 2014), (b) 619 foreclosed
properties with a book value of €200 mn (compared to about 600 foreclosed properties with a book
value of €179 mn at 31 December 2014), and (c) off-balance sheet exposures totalling €154 mn
(compared to €185 mn at 31 December 2014).
➤ Romania: The overall net exposure is €439 mn (compared to €520 mn at 31 December 2014).
Russia: The overall net exposure is €121 mn (compared to €130 mn at 31 December 2014). As
from 4Q2014 the Group's operations in Russia are treated as a disposal group held for sale and
results have been presented accordingly as discontinued operations.
1 In addition to the above, in the normal course of business in Cyprus, the Bank has lending exposures to Greek entities
amounting to €89 mn
Bank of Cyprus
KOINO
WKYNРIW
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