Investor Presentaiton
Overseas non-core operations
Disposing of overseas operations considered as non-core
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During 2Q2015 the Bank disposed of its investment in Marfin Diversified Strategy Fund
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Post 30 June 2015, the Bank has reached an agreement to sell the majority of its Russian operations,
including Uniastrum Bank. The sale follows a similar disposal in Ukraine and completes the disposal of
the Group's overseas banking subsidiaries identified for sale. The sale allows the Group to de-risk its
balance sheet by approximately 600 mn and allows the release of risk weighted assets of
approximately 600 mn. The sale improves the Group's regulatory capital position, with a positive
impact of approximately 33 basis points on the CET 1 ratio.
The non-core overseas operations as at 30 June 2015 were as follows:
Greece: The net exposure comprised (a) net on-balance sheet exposures (excluding foreclosed
properties) totalling 56 mn (compared to 76 mn at 31 March 2015), (b) 637 foreclosed properties with
a book value of 199 mn (compared to about 619 foreclosed properties with a book value of 200 mn at
31 March 2015), (c) off-balance sheet exposures totalling 133 mn (compared to 154 mn at 31 March
2015) and (d) lending exposures to Greek entities in the normal course of business in Cyprus totalling
74 mn, (compared to 89 mn at 31 March 2015) and lending exposures in Cyprus with collaterals in
Greece totalling 66 mn at the same level as with previous quarter
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Romania: The overall net exposure is 368 mn (compared to 439 mn at 31 March 2015).
Russia: The overall net exposure is 103 mn (compared to 121 mn at 31 March 2015).
Bank of Cyprus
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