Income Statement and Eurosystem Funding Review
Consolidated Income Statement
€ mn
Net interest income
1Q2015
4Q2014
3Q2014
2Q2014
1Q2014
225
225
231
263
248
Net fee and commission income
43
37
37
37
42
Net foreign exchange gains/(losses) and net profits/(losses) on other financial instruments
(4)
14
(13)
(1)
6
Insurance income net of insurance claims
12
10
10
13
13
Other income/(expenses)
(4)
(5)
(2)
6
0
Total income
272
281
263
318
309
Staff costs
(59)
(58)
(59)
(59)
(58)
Other operating expenses
(43)
(56)
(44)
(45)
(47)
Total expenses
(102)
(114)
(103)
(104)
(105)
■ Profit before provisions and impairments, gains on derecognition and changes in expected
cash flows on acquired loans, restructuring costs and discontinued operations
170
167
160
214
204
Provisions for impairment of customer loans
(148)
(248)
(115)
(173)
(130)
Gains on derecognition and changes in expected cash flows on acquired loans
43
29
6
4
8
Impairments of other financial and non-financial assets
(1)
(57)
1
(33)
(0)
Share of profit/ (loss) from associates and joint ventures
2
3
2
2
Profit/(loss) before tax, restructuring costs and discontinued operations
66
(106)
50
14
84
Tax
(9)
(1)
(6)
(2)
(Loss)/profit attributable to non-controlling interests
(0)
0
(0)
(0)
■ Profit /(loss) after tax and before restructuring costs, discontinued operations and net profit on
disposal of non-core assets
57
(107)
44
12
82 1
I
Restructuring costs
(3)
12
16)
(5)
Loss from disposal group held for sale / discontinued operations
(21)
(214)
(37)
(6)
(46)
Net gain (loss) on disposal of non-core assets
Profit/(Loss) after tax
(13)
60
29
(337)
(5)
50
311
As from the fourth quarter of 2014, the Group's operations in Russia are treated as a disposal group held for sale and results have been presented accordingly
as discontinued operations in accordance with IFRS. Hence comparatives for the earlier financial quarters of 2014 and FY2013 have been re-presented.
In order to better reflect its operating results, the Group changed its presentation for impairments of assets and for gains on derecognition and changes in
expected cash flows on loans acquired. Specifically, impairments of other financial and non-financial assets and gains on derecognition and changes in
expected cash flows on loans acquired from Laiki Bank are presented in line with provisions for impairment of customer loans. Comparatives have been
reclassified accordingly to conform with changes in the presentation of the current period.
Bank of Cyprus
KOINO
ΚΥΠΡΙ
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