Income Statement and Eurosystem Funding Review
(1,7)
(3,8)
(5,3)
12-2012
01-2013
02-2013
Two Years After: Cyprus economy on recovery path...
GDP growth expected to be positive from 2015
faster recovery than other peripheral countries
-
GDP Growth (yoy)
2010 2011 2012 2013 2014 2015f 2016f 2017f
I
1,2%
1,4%
0,3%
1,6%
2,0%
0,4%
(2,4%)
(2,3%)
(2,3%)
(5,4%)
(3,4%)
(3,9%)
(8,7%)
Real GDP growth - Actual
Current projections (EC & IMF)
Initial Projections (EC)
Banking system deposits outflow arrested (€ bn)
0,2
(1,0) (1.4) (1,01,40,8
(0,200,100,200,10,560,2)
0,20,5
0,0
(0.4) (0,200,460,2)
0,0 0,3 0,4
0,3
(0,0)
03-2013
04-2013
05-2013
06-2013 3
07-2013
08-2013
09-2013
10-2013
11-2013
12-2013
01-2014
02-2014
03-2014
04-2014
05-2014
06-2014
07-2014
08-2014
09-2014
10-2014
11-2014
12-2014
01-2015
02-2015
(6,3)
(1) Includes impact of bail-in of BoC - 37,5% of uninsured deposits (>100k) converted to equity
(2) Includes impact of Laiki resolution - €3,9 bn
(3) Includes impact of bail-in of BoC - additional 10% of uninsured deposits converted to equity
(4) Seasonally and working day adjusted
SOURCE: Statistical Service of Republic of Cyprus, European Commission, IMF and company reports, Bloomberg
03-2015
2Q2011
3Q2011
-0,4%
4Q2011
-0,8%
1Q2012
-1,2%
2Q2012
-2,4%
3Q2012
-2,3%
4Q2012
-3,7%
1Q2013
-5,3%
2Q2013
-6,0%
3Q2013
-5,5%
4Q2013
-4,7%
1Q2014
-3,2%
2Q2014
-1,8%
3Q2014
-2,1%
4Q2014
-1,8%
1Q2015
0,2%
●
•
According to initial estimates, an increase
was recorded in real GDP for 1Q2015 after
14 quarters of consecutive decrease;
GDP4 increased by 1,6% qoq and by 0,2%
yoy
Banking system recorded deposit inflows
during 1Q2015; Capital controls fully.
abolished in April 2015
Bank of Cyprus
KOINO
WKYNРIW
2235
4View entire presentation