Preliminary Group Financial Results for the year ended 2014

Total expenses Total expenses (€ mn) Other operating expenses Staff costs 118 105 104 103 60 47 45 44 58 59 59 58 1Q2014 2Q2014 3Q2014 4Q2014 Group Cost to Income Ratio 35% 34% 33% 37% 1Q2014 1H2014 9M2014 FY2014 • . 4Q2014 Total expenses increased to €118 mn compared to €103 mn for 3Q2014 mainly due to advertising, regulatory and ECB Comprehensive Assessment related costs, listing costs, and other advisory fees Staff costs for 4Q2014 at €58 mn broadly at the same level as in the previous quarters The cost-to-income ratio for FY2014 stands at 37% compared to 35% for the 9M2014, partly due to the increase of other operating expenses during 4Q2014 Bank of Cyprus KOINO 13 WKYNРIW 2235

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