Preliminary Group Financial Results for the year ended 2014
Preliminary Group Financial Results FY2014 – Key Highlights
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Common Equity Tier 1 capital (CET1) ratio at 14,0%
Further balance sheet deleverage by €649 mn during 4Q2014;
Completion of sale of excess UK loan portfolio
Recurring profitability stabilising; Profit before provisions and impairments for 4Q2014 and for
FY2014 totalled €169 mn and €747 mn, respectively
Completion of review of AQR results and methodological alignments and reduction of net
exposure to Russia leads to non-recurring increase in provisions
Loss after tax for 4Q2014 totalled €332 mn, negatively affected by non-recurring items;
Loss after tax for FY2014 totalled €256 mn
Stabilising deposit base; First quarterly increase in deposits in Cyprus since bail-in; Customer
inflows during 4Q2014 and 2015; Release of all decree deposits; ELA reduced to €7,2 bn
Loan portfolio quality stabilisation signs; 90+ DPD reduced by 3% during 4Q2014; imperative
for legal environment to be clarified the soonest in order to effectively engage with borrowers
Capital position shields the Group from further shocks and
helps in regaining trust of counterparties
Bank of Cyprus
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KOINO
ΚΥΠΡΙ
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