2016 EU-wide Transparency Exercise Summary
Core Content
The document presents the results of the 2016 EU-wide Transparency Exercise for Bank of Cyprus Public Company Limited, covering various aspects of capital structure, risk exposure, and profit and loss (P&L) for the period ending 31/12/2015 and 30/06/2016. It includes data under the Standardised Approach for Credit Risk, Market Risk, and Capital Ratios.
Key Financial Information
Bank Details
- Bank Name: Bank of Cyprus Public Company Limited
- LEI Code: PQ0RAP85KK9Z75ONZW93
- Country Code: CY
Capital Structure (Transitional Period)
| Category |
As of 31/12/2015 |
As of 30/06/2016 |
COREP CODE |
REGULATION |
| OWN FUNDS |
2,778 |
2,756 |
C 0.00 (010,010) |
Articles 4(118) and 72 of CRR |
| COMMON EQUITY TIER 1 CAPITAL |
2,748 |
2,736 |
C 0.00 (015,010) |
Article 25 of CRR |
| ADDITIONAL TIER 1 CAPITAL |
0 |
0 |
C 0.00 (530,010) |
Article 61 of CRR |
| TIER 2 CAPITAL |
30 |
21 |
C 0.00 (750,010) |
Article 71 of CRR |
Capital Components
| Component |
As of 31/12/2015 |
As of 30/06/2016 |
COREP CODE |
Regulation |
| A.1.1 |
1,408 |
1,445 |
C 0.00 (030,010) |
Articles 26(1) points (a) and (b), 27 to 29, 36(1) point (f) and 42 of CRR |
| A.1.2 |
-689 |
-675 |
C 0.00 (030,010) |
Articles 26(1) point (c), 26(2) and 36 (1) points (a) and (f) of CRR |
| A.1.3 |
0 |
0 |
C 0.00 (018,010) |
Articles 4(100), 26(1) point (d) and 36 (1) point (f) of CRR |
| A.1.4 |
2,064 |
2,019 |
C 0.00 (200,010) |
Articles 4(117) and 26(1) point (e) of CRR |
| A.1.6 |
0 |
0 |
C 0.00 (230,010) |
Article 84 of CRR |
| A.1.7 |
0 |
0 |
C 0.00 (250,010) |
Articles 32 to 35 of and 36 (1) point (f) of CRR |
| A.1.8 |
-17 |
-18 |
C 0.00 (300,010) + C 0.00 (340,010) |
Articles 4(113), 36(1) point (b) and 37 of CRR. Articles 4(115), 36(1) point (b) and 37 point (a) of CRR |
| A.1.16 |
-18 |
-35 |
C 0.00 (490,010) |
Articles 36(1) point (c) and 38; Articles 48(1) point (a) and 48(2) of CRR |
| A.1.21.1 |
0 |
0 |
C 0.00 (520,010) |
Articles 483(1) to (3), and 484 to 487 of CRR |
| A.1.21.2 |
0 |
0 |
C 0.00 (524,010) |
Articles 479 and 480 of CRR |
| A.1.21.3 |
0 |
0 |
C 0.00 (520,010) |
Articles 469 to 472, 478 and 481 of CRR |
Risk Exposure Amounts
| Risk Type |
As of 31/12/2015 (mln EUR) |
As of 30/06/2016 (mln EUR) |
| Credit Risk |
17,581 |
16,848 |
| Securitisation and Re-securitisations (Banking Book) |
0 |
0 |
| Contributions to the Default Fund of a CCP |
0 |
0 |
| Other Credit Risk |
17,581 |
16,848 |
| Market Risk (Position, Foreign Exchange, Commodities) |
8 |
7 |
| Credit Valuation Adjustment |
38 |
74 |
| Operational Risk |
2,040 |
2,040 |
| Total Risk Exposure Amount |
19,666 |
18,969 |
Profit and Loss (P&L) for 2016
| P&L Item |
As of 31/12/2015 (mln EUR) |
As of 30/06/2016 (mln EUR) |
| Interest Income |
1,122 |
469 |
| Of which: Debt Securities Income |
103 |
13 |
| Of which: Loans and Advances Income |
1,013 |
453 |
| Interest Expenses |
280 |
109 |
| Of which: Deposits Expenses |
259 |
99 |
| Dividend Income |
28 |
24 |
| Net Fee and Commission Income |
156 |
76 |
| Gains or (-) Losses on Derecognition of Financial Assets |
60 |
57 |
| Gains or (-) Losses on Financial Assets Held for Trading |
-13 |
1 |
| Gains or (-) Losses on Financial Assets Designated at Fair Value |
0 |
0 |
| Gains or (-) Losses from Hedge Accounting |
-2 |
0 |
| Exchange Differences |
38 |
16 |
| Net Other Operating Income/(Expenses) |
-49 |
0 |
| Total Operating Income, Net |
1,061 |
535 |
| Profit or (-) Loss Before Tax from Continuing Operations |
-400 |
83 |
| Profit or (-) Loss After Tax from Continuing Operations |
-406 |
72 |
| Profit or (-) Loss from Discontinued Operations |
-65 |
0 |
| Profit or (-) Loss for the Year |
-471 |
72 |
| Of which: Attributable to Owners of the Parent |
-456 |
66 |
Credit Risk - Standardised Approach
Total Risk Exposure Amount
- As of 31/12/2015: 34,111 mln EUR
- As of 30/06/2016: 33,487 mln EUR
Key Risk Exposure Breakdown
| Risk Exposure Type |
As of 31/12/2015 (mln EUR) |
As of 30/06/2016 (mln EUR) |
| Central Governments or Central Banks |
2.185 |
1,462 |
| Regional Governments or Local Authorities |
79 |
77 |
| Public Sector Entities |
41 |
37 |
| Multilateral Development Banks |
11 |
0 |
| International Organisations |
12 |
0 |
| Institutions |
1.364 |
9 |
| Corporates |
3.820 |
3,313 |
| Retail |
3.803 |
3,308 |
| Secured by Mortgages on Immovable Property |
4.501 |
3,950 |
| Exposures in Default |
11.751 |
9,177 |
| Items Associated with Particularly High Risk |
5.084 |
4,526 |
| Other Exposures |
1.314 |
1,718 |
| Standardised Total |
34,111 |
33,487 |
Capital Ratios (Transitional Period)
| Capital Ratio |
As of 31/12/2015 (%) |
As of 30/06/2016 (%) |
| Common Equity Tier 1 Capital Ratio |
13.97% |
14.42% |
| Tier 1 Capital Ratio |
13.97% |
14.42% |
| Total Capital Ratio |
14.13% |
14.53% |
Summary of Key Points
- The Bank of Cyprus reported a decrease in own funds from 2,778 mln EUR to 2,756 mln EUR during the transitional period.
- The common equity tier 1 capital decreased from 2,748 mln EUR to 2,736 mln EUR, while tier 2 capital also decreased from 30 mln EUR to 21 mln EUR.
- The total risk exposure amount decreased from 19,666 mln EUR to 18,969 mln EUR, reflecting a reduction in credit and market risks.
- Credit risk under the standardised approach was significantly higher than market risk, with a total of 34,111 mln EUR as of 31/12/2015 and 33,487 mln EUR as of 30/06/2016.
- The capital ratios increased during the period, indicating improved capital adequacy.
- The P&L showed a loss of 471 mln EUR as of 31/12/2015, but improved to a profit of 72 mln EUR by 30/06/2016.
