Performance and Capital Position Overview
1Q2016 Financial Results - Highlights
Reduction in
Problem Loans
Problem loans (90+ DPD) 1 down by €1,0 bn (or 9%) qoq and by €2,5 bn (or 20%) yoy
• 90+ DPD ratio down by 3 percentage points to 47% and provisioning coverage ratio improved to 49%
Loan restructurings of €1,5 bn during 1Q2016, up by 11% qoq and by 117% yoy
Normalising
Funding Structure
ELA reduced by €1 bn post 31 December 2015 to €2,8 bn
Customer deposits increased to 62% of total assets
Ratio of Loans to Deposits (L/D) improved to 119%
Strong Capital
Position
CET1 ratio strengthened by 30 basis points to 14,3%
RWA intensity of 85% results in a high leverage ratio³ of 13,1%
Profitable Quarter
•
Profit before provisions of €145 mn for 1Q2016
• Profit after tax of €50 mn for 1Q2016
Net Interest Margin maintained at 3,63%; Cost to income ratio of 40%
Strong
Franchise in a
recovering
.
Loans and deposit market shares of 40,4% and 28,2%, respectively
New lending of €223 mn in the first four months of 2016
Cypriot GDP growing by an annual 2,7% 2 for 1Q2016
economy
(1) Problem loans (90+ DPD) are loans in arrears for more than 90 days (90+ DPD) and are defined as loans past-due for more than 90 days and those that are impaired (impaired loans are
recognition or customers in Debt Recovery).
those which are not considered fully collectable and for which a provision for impairment has been recognised on an individual basis or for which incurred losses exist at their initial Bank of Cyprus
(2) Based on flash estimates published on 13 May 2016 by the Statistical Service of the Republic of Cyprus
(3) Leverage ratio = Tangible Equity over Total Assets
2
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