Group Profile Sample Clauses

Group Profile. The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 99 branches in Cyprus, of which 15 operate as cash offices. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 3,566 staff worldwide. At 31 March 2020, the Group’s Total Assets amounted to €20.4 bn and Total Equity was €2.2 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries. Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together with its subsidiaries, the “Group”) has reached an agreement with funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), for the sale of a portfolio (the “Portfolio”) of Non Performing Loans with a gross book value of €916 mn1,2 (known as “Project Helix 2”, or the “Transaction”). The Portfolio has a contractual balance of €1.46 bn3 and it comprises 22,224 loans, mainly to Retail and SME clients, secured over 5,616 real estate collaterals. The net book value of the assets being sold amounts to €440 mn1. The consideration amounts to 46% of the gross book value and 29% of the contractual balance payable in cash, of which 35% is payable at completion and the remaining 65% is deferred without any conditions attached. The deferred component is payable in three broadly equal instalments over 48 months from completion. The consideration can be increased through an earnout arrangement, depending on the performance of the Portfolio. The Transaction accelerates the Bank’s strategy of de-risking its balance sheet, by reducing its stock of NPEs by 24%1 and its NPE ratio by 5 percentage points1. At completion, the Transaction is expected to have an impact of -34 bps1 on the Group’s CET 1 ratio. Upon the full repayment of the deferred consideration and without taking account of any positive impact from the earnout, the Transaction is expected to have a +9 bps1 capital impact on the Group’s CET 1 ratio. The accounting loss attributable to the Transaction is estimated at c.€68 mn recorded in 2Q2020. The completion of the Transaction is currently estimated to occur in the first half of 2021 a...
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Group Profile. The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 123 branches, of which 121 operate in Cyprus, 1 in Romania and 1 in the United Kingdom. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,396 staff worldwide. At 31 March 2018, the Group’s Total Assets amounted to €23.4 bn and Total Equity was €2.3 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries. Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together with its subsidiaries, the “Group”) announces that it has signed a binding agreement to sell its wholly owned subsidiary bank in the UK, Bank of Cyprus UK Limited (“BOC UK”) and its subsidiary Bank of Cyprus Financial Services Ltd (“BOC FS”, and together the “UK Group”) to Cynergy Capital Limited (“Cynergy”). The sale is expected to be completed by the end of 2018 and is subject to approval by the regulators of both the Group and BOC UK. The sale consideration of £103 mn (c. €117 mn1) is subject to customary purchase price adjustments for the period up to completion. The consideration is payable in cash, of which half is deferred over 24 months from completion, without any performance conditions attached. On completion, the total value of the sale is expected to have a positive impact of
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Group Profile. The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 108 branches in Cyprus. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 4,156 staff worldwide. At 31 March 2019, the Group’s Total Assets amounted to €21.7 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries. Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together with its subsidiaries, the “Group”) announces that it has signed a binding agreement to sell its entire shareholding of 49.9% in its associate CNP Cyprus Insurance Holdings Limited (“CNP CIH”) that had been acquired as part of the acquisition of certain operations of Laiki Bank in 2013, to CNP Assurances S. A. (the “Buyer”), who currently owns the remaining 50.1% and is the controlling party. The sale is subject to regulatory approvals and is expected to be completed in the second half of 2019. The sale consideration of €97.5 mn is payable in cash on completion. On completion, the sale is expected to have a positive impact of c.30 bps1 on both the Group’s CET1 ratio and Total Capital ratio. The carrying value of the Group’s investment in CNP CIH was €119 mn as at 31 March 2019. The accounting loss from the sale is estimated at c.€22 mn1. The sale enables the Group to focus on its core assets and is in line with the Group’s strategy of delivering value for shareholders. The Group will continue to offer insurance services through its wholly owned insurance subsidiaries. As required by the Cyprus Stock Exchange and according to paragraph 5.2.1.17(7) of the Decision of the Council of the CSE Concerning the CSE Market 379/2014 (as amended), the transaction is at arm’s length, it does not relate to or affect the interests of the Company’s Secretary or of any “designated person” in accordance with the meaning given to the aforementioned term in article 137(3) of the Cyprus Securities and Stock Exchange Law 14(I)/1993 (as amended). Notes to the editor CNP CIH is the parent company of a group of insurance companies in Cyprus and Greece. S...
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Group Profile. The form that provides details about the DHA Employer. DHA requires that specific portions of the Group Profile must be completed as a precondition to coverage. cc. HIPAA. Health Insurance Portability and Accountability Act of 1996.
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Group Profile. Gaz de France Group is a major energy player in Europe. As the leading natural gas distributor in Europe, Gaz de France employs almost 50,000 employees and generated €27 billion in sales in 2007. The Group holds a portfolio of some 14 million clients, approximately 11 million of which are in France. Listed on the Paris Stock Exchange, Gaz de France is also part of the CAC 40 and Dow Xxxxx Stoxx 600 indices. Press contact: Xxxxxxxx des Royeries Tel: +000 00 00 00 00 Email: xxxxxxxx.xxx-xxxxxxxx@xxxxxxxxxxx.xxx SERVICE DE PRESSE 00, XXX XXXXXXXXX XXXXXXX - 75840 PARIS CEDEX 17
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Group Profile. The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 98 branches in Cyprus, of which 14 operate as cash offices. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 3,577 staff worldwide. At 30 September 2020, the Group’s Total Assets amounted to
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Group Profile. The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. The Bank of Cyprus Group operates through a total of 91 branches in Cyprus, of which 11 operate as cash offices. Bank of Cyprus also has representative offices in Russia, Ukraine and China. The Bank of Cyprus Group employs 3,558 staff worldwide. At 30 June 2021, the Group’s Total Assets amounted to €24.2 bn and Total Equity was €2.1 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries. Bank of Cyprus Holdings Public Limited Company (“BOC Holdings” and, together with its subsidiaries, the “Group”) has reached an agreement with funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), for the sale of a portfolio of Non Performing Loans (the “Portfolio”) with a gross book value of €577 mn1, as well as real estate properties with a book value of €121 mn1 (known as “Helix 3”, or the “Transaction”). The Portfolio has a contractual balance of €993 mn2 and it comprises c.20,000 loans, mainly to Retail clients. At completion, the Bank will receive gross cash consideration of c.€385 mn. The Transaction represents another milestone in the delivery of one of the Group’s core strategic objectives of improving asset quality through the reduction of NPEs. Pro forma for this Transaction, the Group’s NPE ratio will be in single digit. The Transaction reduces the stock of NPEs by 36%1 and the properties by 9%1. On a pro forma basis, in the first nine months of 2021 our NPE stock reduced by €2.2 bn1 to €0.9 bn1, and the NPE ratio to 8.6%1, including Helix 3, Helix 2 and organic reductions. Overall, by completion, the Transaction is expected to have a total positive impact of 66 bps1 on the Group’s CET 1 ratio and c.€21 mn on the Group’s income statement. The impact of the Transaction on the Group’s income statement for 3Q2021 is a net profit of c.€10 mn and a positive impact of 7 bps1 on the Group’s CET 1 ratio. The completion of the Transaction is currently estimated to occur in the first half of 2022 and remains subject to a number of conditions, including customary regulatory and other approvals. The Portfolio and the real estate properties included i...
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Related to Group Profile

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