Deleveraging and Financial Overview
Consolidated Income Statement - Pre classification*
€ mn
FY2014
FY2013
4Q2014
3Q2014
2Q2014
1Q2014
Net interest income
1.025
977
235
244
279
267
Net fee and commission income
170
167
39
43
43
45
Net foreign exchange gains/(losses) and net profits/(losses) on other financial
instruments
6
2
11
(12)
(0)
7
Insurance income net of insurance claims
46
65
11
10
12
13
Other income/(expenses)
(1)
(63)
(7)
(1)
6
1
Total income
1.246
1.148
289
284
340
333
Staff costs
(268)
(316)
(66)
(67)
(68)
(67)
Other operating expenses
(233)
(221)
(68)
(55)
(53)
(57)
Total expenses
(501)
(537)
(134)
(122)
(121)
(124)
Profit before provisions and impairments, gains on derecognition and changes
I
I in expected cash flows on acquired loans, restructuring costs and discontinued
Loperations
745
611
155
162
219
209
Provisions for impairment of customer loans
Gains on derecognition and changes in expected cash flows on acquired loans
(930)
47
(1.019)
(438)
(163)
(183)
(146)
27
30
6
4
7
Impairments of other financial and non-financial assets
(174)
(23)
(141)
1
(34)
(0)
Share of profit/(loss) from associates and joint ventures
5
3
2
2
(Loss)/Profit before tax, restructuring costs and discontinued operations
(307)
(409)
(391)
8
72
(25)
72T
Loss attributable to non-controlling interests
60
12
45
7
6
2
(Loss)/Profit after tax and before restructuring costs, discontinued operations
(272)
(392)
(356)
6
6
72
i and net profit on disposal of non-core assets
Restructuring costs
Loss from disposal group held for sale / discontinued operations
Net gain/(loss) on disposal of non-core assets
(Loss)/profit after tax
--
(36)
(157)
(4)
(11)
(16)
0
(141)
36
(36)
47
(1.366)
(13)
60
(261)
(2.056)
(337)
(5)
50
31
* 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 Bank of Cyprus
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.
KOINO
WKYNРIW
37View entire presentation