Download banking sector statistical digest - Cayman Islands Monetary Authority

BANKING SECTOR STATISTICAL DIGEST
2011 - 2014
Section I – Banking Sector
Structure
Balance Sheet Profile
Assets Distribution
Assets Sectoral Distribution
Liabilities Distribution
Funding Distribution
Funding Distribution Profile
Loans to Funding Profile
Earnings & Profitability
Financial Soundness Indicators
Non-Performing Loans (NPL's)
Section II – Banking Sector –
International Assets & Liabilities
International Assets & Liabilities
Cross-Border Assets & Liabilities by Region
Domestic (Local/Resident) Assets & Liabilities
in Foreign Currency
The Cayman Islands banking sector has 'weathered' the effects of the financial crisis and
down-turn in global economic growth. It has maintained its position as the 6th largest
international banking centre in terms of cross-border assets of US$1.42 trillion and 5th
in cross-border liabilities of US$1.44 trillion as at end December 2014.
The sector remains generally stable and well capitalized with capital adequacy ratios
(CAR) of 29.5% for non-retail banks licensed as subsidiaries, private & affiliates and
branches and 17.6% for retail banks. Banks continue to remain profitable despite the
increase in non-performing loans and low interest rate policy over the 2011-2014
period, which have impaired earnings and profitability. The sector reported a net
income of US$3.2 billion at end-2014.
With improved conditions in the international markets, primarily in Europe, signs of
improved global economic activity, signals of interest rate increases by the US and
increased loan loss provisioning in 2014, the banking sector is poised for improvements
in profitability going forward. Domestically, expected increases in growth and
improvements in unemployment rates bode well for improved performance for the
retail sector.
Section III – Category A Banks
Retail Banks - Balance Sheet Profile
Retail Banks - Assets Distribution
Retail Banks - Funding Distribution
Non-Retail Banks - Balance Sheet Profile
Non-Retail Banks - Assets Distribution
Non-Retail Banks - Funding Distribution
Retail Banks - Earnings & Profitability
Retail Banks - Financial Soundness Indicators
Retail Banks - Non-Performing Loans
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prohibited.
Banking Sector Structure
The Cayman Islands Monetary Authority (CIMA), through its Banking Supervision Division (BSD), regulates and
supervises all banking entities operating in and from the Cayman Islands. The Banks and Trust Companies Law
(2013 Revision) allows for two categories of banking licence: Category A licence which permits banks to
operate both in the domestic and international markets and provide services to residents and non-residents,
and Category B licence which permits banks to conduct international banking business with non-residents and
domestic banking business with other Cayman Islands licenced entities.
300
18
17
250
17
15
15
200
15
13
150
260
Category A Banks
249
100
229
219
Category B Banks
207
198
185
2012
2013
2014
50
0
2008
2009
2010
2011
Number of Banks
Following the financial crisis in
2007/2008, Bank licences have
steadily declined as banks
terminated their licences in search
of higher efficiency returns through
consolidation and restructuring.
Category B banks decreased
annually from a high of 260 in 2008
to 185 in 2014. Category A banks
decreased by 5 from 18 in 2008 to
13 in 2014, for a total of 198 banks
as at December 2014.
Category A & B Banks
Branches
181
173
76
162
74
21
19
2008
2009
Middle East &
Africa, 4%,
Caribbean,
Central
America &
Mexico
14%
South America,
18%
Privates & Affiliates
152
66
18
2010
Subidiaries
143
63
19
2011
139
61
18
2012
130
57
49
19
17
2013
2014
Asia &
Australia, 11%
North America ,
28%
Europe, 27%
1
Types of Banks
Of the 198 category A and B
licensees in 2014, 130 were
branches and 49 were subsidiaries
primarily from Europe, North
America and South America, and 19
were banks privately owned or
affiliates to another bank or a
financial institution in their Group.
Nationality of Banks
The majority of licensed banks are
branches or subsidiaries of
established international financial
institutions, with the largest
concentrations of banks from
North America, Europe and South
America.
Banking Sector - Balance Sheet Profile
Total assets have declined since the financial crisis, from US$1.7 trillion in 2008 to US$1.449 trillion in 2014.
The Cayman Islands’ banking system remains strong and resilient with unconsolidated assets and liabilities of
US$1.449 trillion as at December 2014 and consolidated assets and liabilities of US$1.430 trillion at varying
fiscal year-end periods for 2014. The sector shows signs of stabilization and growth, as seen by the growth of
balance sheet positions of $1.449 trillion as at 2014, due mainly to increased market confidence of the
continued US monetary policy of low interest rates and signs of slow, but positive, global economic growth.
CATEGORY A & B BANKS - CALENDAR YEAR - (Millions U$D)
ASSETS
Cash Items
Financial Assets at Fair Value
Investments - Held-to-Maturity
Investments -Available-for-Sale
Other Investments
Loans and Advances
Less Loan Loss Provisions
Net Loans
Other Assets
TOTAL ASSETS
LIABILITIES
Deposits
Repurchase Agreements (REPOS)
2011
870,513
28,614
4,425
47,516
90,963
462,332
1,492
460,839
2012
682,726
26,931
2,803
52,988
66,132
526,839
1,537
525,301
2013
701,712
20,210
4,682
40,078
51,009
528,191
1,012
527,179
2014
745,829
24,646
5,392
37,733
57,368
498,990
2,700
496,290
80,628
82,763
64,120
81,999
1,583,501
1,439,648
1,408,994
1,449,260
2011
2012
2013
2014
1,466,410
1,246,084
1,236,198
1,254,628
8,901
12,911
9,591
18,399
Hybrid Debt and Subordinated Debt
10,549
11,273
13,825
18,062
Other Notes, Bonds and Commercial Paper
26,228
39,815
62,027
62,518
Other Borrowings
61,133
75,414
53,635
48,073
Creditors and Other Liabilities
21,776
45,229
35,204
43,978
1,304
1,009
737
711
1,596,304
1,431,739
1,411,238
1,446,369
Other Loss Provisions
TOTAL LIABILITIES
TOTAL SHAREHOLDERS EQUITY
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
-12,802
7,909
-2,244
2,890
1,583,501
1,439,648
1,408,994
1,449,260
Following year-to-year contractions since 2008, the banking sector balance sheets increased by US$40 billion,
from US$1.409 trillion in 2013 to US$1.449 trillion in 2014. Over 2011-2014, the banking sector funding shifted
from retail deposits and borrowings to the issuance of debt instruments, as investors reacted to the US low
interest rate monetary policy and higher returns from capital markets. Shareholders Equity showed mixed
performance. Branches reported negative shareholders equity, in most instances, from liabilities being greater
than assets. Subsidiaries showed positive earnings, though slightly compressed due mainly to market volatility,
higher levels of provisioning for credit losses and slow growth in the global economy, primarily in Europe and
emerging markets.
Footnote: Unconsolidated data at calendar year-end is presented so as to include intra-group positions which more accurately reflect
the size of banks’ balance sheet.
Footnote: Shareholders’ Equity can be negative or positive as it includes subsidiaries/privates/affiliates that hold capital and branches
that are not required to hold capital as they are considered an account of their Parent Bank. Branches shareholders’ equity is
presented as assets minus liabilities and can produce a negative value for the sector given the relative number and balance sheet size
of branches in aggregate.
2
Banking Sector - Asset Distribution
The balance sheet profile of the banking sector reflects a liquid and healthy composition of assets, with Cash
Items (cash and bank balances) and Loans & Advances accounting for an average of 85% of total assets. Cash
Items averaged 50% or US$750 billion and Loans & Advances averaged 35% or US$500 billion. This high level of
cash and lower than traditional industry benchmarks for loans are indicative of a tax neutral international
financial centre with no foreign exchange controls, where licensees access funding and foreign currency on the
international markets to provide liquidity and credit to their Parent Groups. This distribution of cash and loans
is also influenced by the business models of the banking sector where bank services include treasury functions,
wealth management, investment business, retail and branch banking.
100%
90%
3.3%
5.1%
1.8%
3.9%
5.7%
1.8%
3.0%
5.6%
1.4%
3.0%
5.6%
1.7%
36.6%
37.5%
34.4%
80%
29.2%
70%
60%
Investments (Securities)
5.7%
50%
4.6%
Other Assets
4.0%
3.6%
Financial Assets at Fair Value
Loans and Advances
40%
Other Investments
30%
Cash Items
54.9%
20%
47.4%
49.8%
51.4%
2012
2013
2014
10%
0%
2011
The banking sectors’ distribution of loans to gross loans reflects the different business models of the retail and
non-retail banks and highlights the significant exposure of retail banks to non-financial corporations and the
household sector, as opposed to the significant exposure of the non-retail subsidiaries and branches to other
banks, mainly Parent Bank Groups.
Banking Sector - Sectoral Distribution of Loans to Gross Loans
Indicator (%)
Central Banks
General Government
Deposit Takers (Banks)
Other Financial Corporations
Non-Financial Corporations
Other Domestic Sectors (Households)
Total
Retail Banks
Subsidiaries
Branches
2013
0.0
7.6
1.5
1.8
56.0
33.1
100
2013
0.0
0.5
60.8
4.4
14.9
19.4
100
2013
0.0
0.2
84.9
2.0
9.3
3.6
100
3
2014
0.0
7.9
0.7
1.6
57.1
32.8
100
2014
0.0
0.3
58.5
6.1
14.2
20.9
100
Sector
2013 2014
2014
0.0
0.0
0.0
0.3
0.4
0.4
82.2
83.4
80.6
3.8
2.0
3.8
9.7
10.1
10.6
4.0
4.2
4.7
100 0 100
100
Banking Sector - Asset Distribution
Over the 2011-2014 period an average of 95% or US$700 billion of Cash Items was used to provide liquidity
to Parent Groups, through placements of Certificates of Deposits (CD's). At end-2014, Cash Items increased
by US$44 billion from US$701 to US$745 billion, of which CD's with Parent Groups’ bank and non-bank
entities increased by US$53 billion from US$675 billion in 2013 to US$728 billion in 2014.
Cash Items (Millions U$D)
2011
2012
831
Cash
Balances & Certificates of Deposits (CD's):
o/w
Group Bank - Parent, Branch, Subsidiary or Affil.
o/w
Group non-bank entities
o/w
Other Banks
Due from financial institutions
526
0
0
0
0
68
96
157
840,044
652,852
691,030
820,950
620,812
661,458
5,998
18,638
14,887
7,960
13,096
13,402
14,685
11,724
29,565
TOTAL
2014
1,530
74
Gold and bullion
Cash items in process of collection
2013
1,412
870,514
28,389
682,721
9,056
701,712
740,632
720,948
4,514
745,829
Total loans decreased by US$30 billion, from US$528 billion in 2013 to US$498 billion in 2014, partially as a
result of loan write-offs and a reduction in consumer loans. Loans to Parent Groups over the 2011-2014 period
averaged 79% of total loans and advances, but decreased by US$40 billion from $440 billion in 2013 to $400
billion in 2014, as funding was used to provide liquidity to Parent Groups and to expand the credit to Other
Financial Corporations (OFI's) by $8 billion at end- 2014.
Loans and Advances (Millions U$D)
2011
Sovereigns & Central Banks
Non Central Government Public Sector Entities (PSEs)
Multilateral Development Banks (MDBs)
Group Bank - Parent, Branch, Subsidiary or Affiliate
Group non-bank entities
Other Banks
Non-Financial Corporations - Private sector
Non-Financial Corporations - Commercial Mortgages
Other Financial Corporations - Financial intermed's & aux.
Retail Lending/Consumer Loans - Households
Residential Mortgages - Households
Other loans and advances
TOTAL
4
2012
2013
2014
1,068
604
1,296
1,481
1,275
1,612
555
650
295
67
49
0
212,182 251,274 288,024 236,237
133,475 163,563 152,319 165,037
5,965
3,402
1,720
2,407
77,936
69,840
49,910
49,628
1,721
3,120
2,321
1,920
7,554
14,272
10,198
18,290
2,714
2,936
2,594
2,904
1,843
1,838
2,566
2,589
16,295
14,311
16,639
17,848
462,332 526,839 528,191 498,991
Banking Sector - Liabilities Distribution
Over 2011-2014, core retail deposits (retail funding) averaged 91% or $1.30 trillion and external debt
(wholesale funding) averaged 9% or US$130 billion, for an average of $1.43 trillion in funding. A review of this
period reflects a change in funding sources evidenced by a decline in retail deposits from 92% in 2011 to 87%
in 2014, offset by an increase in wholesale funding from 7.3% in 2011 to 9.6% in 2014, with a high of 10.7% in
2012. The use of external debt as a source funding is only seen in the non-retail banks and more prevalent in
South American banks.
100%
0.7%
2.3%
3.4%
2%
90%
80%
70%
60%
50%
92%
87%
88%
87%
40%
Creditors and other
Liabilities
Deposits
Long Term Debt and
Other Borrowings
30%
20%
10%
7.3%
10.7%
10%
9.6%
2011
2012
2013
2014
0%
5
Banking Sector - Funding Distribution
A major change in deposit funding over the 2011-2014 period was seen by a reduction in deposits of
US$212 billion, from US$1.466 trillion in 2011 to US$1.254 trillion in 2014, due mainly to a reduction in
deposits from Parent Groups. However, this trend reversed as retail funding increased by US$22 billion
from $1.232 trillion in 2013 to $1.254 trillion in 2014, due mainly to increased deposits of US$61 billion
from Parent Groups.
Retail Funding
2011
Deposits (Millions U$D)
2012
2013
2014
Sovereigns & Central Banks
1,936
3,078
4,959
4,997
Non Central Government Public Sector Entities (PSEs)
5,042
1,092
1,461
1,806
174
46
78
165
Group Bank - Parent, Branch, Subsidiary or Affiliate
723,578
609,068
640,822
677,071
Group non-bank entities
268,950
167,773
143,601
167,950
94,060
80,862
44,599
65,986
Non-Financial Corporations - Private sector
160,743
155,971
153,898
149,589
Other Financial Corporations - Financial intermed's & aux.
182,862
198,503
206,721
160,424
9,658
7,674
6,138
7,017
19,399
22,017
30,507
1,466,402
1,246,084
1,232,784
19,622
1,254,627
Multilateral Development Banks (MDBs)
Other Banks
Individuals -Households
Other deposits
TOTAL
To offset the decrease in retail funding, banks responded by using debt instruments which is reflected in the
increase in wholesale funding of US$41 billion over 2011-2014 from US$106 billion in 2011 to US$147 billion in
2014.
Wholesale Funding
2011
Debt & Borrowings (Millions U$D)
2012
2013
2014
8,901
12,911
9,592
18,399
Hybrid debt/equity instruments (over 5 years)
10,549
11,273
13,842
18,062
Other Notes, Bonds & Commercial Paper
26,228
39,815
62,010
62,519
Other Borrowings
TOTAL
61,133
75,414
53,636
106,811
139,413
139,080
48,072
147,052
Repurchase Agreements (Repo's)
6
Banking Sector - Funding Distribution
Over 2011-2014, investors reacted to low yields from global low interest rates and shifted from retail deposits
to the capital markets in search of the higher returns. Banks, in turn, reacted by the issuance of debt securities
offering higher yields to investors. The shift in funding pattern is concentrated primarily among South
American banks, a trend that is seen by the Bank for International Settlements (BIS) statistics, which show that
.
external
debt securities financing increased as a source of funding for banks from Emerging Economies postglobal crisis (Changes in Funding Patterns by Latin American Banking Systems, Liliana Rojas-Suarez and Jose
Maria Serena, Bank of Spain, 2015). This shift in funding patterns presents some vulnerability as its continued
availability is dependent primarily on the US low interest rate monetary policy.
Wholesale funding also reflected a shift from Other Borrowings to Debt Securities. Other Borrowings declined to
US$48 billion in 2014 from US$61 billion in 2011 and US$75 billion in 2012, which was offset by an increase of
US$10 billion in repurchase agreements, US$8 billion in hybrid/equity instruments and US$36 billion in notes,
bonds & commercial paper from 2011 to 2014.
Wholesale Funding Distribution
Billions U$D
160
140
Total Wholesale Funding
120
Other Borrowings
100
Other Notes, Bonds &
Commercial Paper
80
Hybrid debt/equity instruments
(over 5 years)
60
Repurchase Agreements
(Repo's)
40
20
2011
2012
2013
2014
Year
7
Banking Sector - Loans to Funding
Loan-to-Deposit ratio (LTD), a measure of a banking funding profile and liquidity, for the banking sector
averaged 39% over 2011-2014, with the non-retail banks LTD ratio averaging 37% and the retail banks LTD ratio
averaging 60%. The stark difference in the LTD ratios for the non-retail banks in comparison to retail banks
reflects the large presence of branches whose primary business function is to raise funds on the international
markets to provide liquidity to Parent Groups as opposed to issuing loans.
The retail banking sector average LTD ratio of 60% provides a healthy cushion of deposits from a stress in
funding. Notwithstanding, the LTD ratio for this sector increased from 60.1% in 2013 to 68.5% in 2014, partly
due to a reduction in resident deposit liabilities, primarily from OFIs. This decrease is seen by a shift of $733
million in resident deposits from the retail banks to the resident non-retail investment banks by the OFIs
(investment and managed assets) sector.
Loans to Funding
2011
2012
2013
2014
Total Gross Loans to Deposit Ratio - Non-Retail Banks
30.7%
40.3%
41.2%
38.4%
Total Gross Loans to Deposit Ratio - Retail Banks
49.7%
62.9%
60.1%
68.5%
Total Gross Loans to Deposit Ratio - All Banks
31.5%
42.3%
42.8%
39.8%
Total Gross Loans to Retail Deposits & Wholesale Funding - All Banks
29.4%
38.0%
38.5%
35.6%
With the use of wholesale funding, the banking sector loans to funding ratio averaged 35% over the 2011-2014.
At end-2014, the banking sectors' loans to funding ratio increased from 29.8% in 2011 to 35.6%, whereas the
sectors’ LTD ratio declined to 39.8% from 42.8% in 2013 as a result of a decrease of $30 billion in loans and an
increase in retail and wholesale funding of $22 billion and $8 billion, respectively.
Gross Loans to Deposits & Total Funding
80.0%
70.0%
60.0%
percent
50.0%
Total Gross Loans to Deposits Retail Banks
40.0%
Total Gross Loans to Deposits - All
Banks
30.0%
Total Gross Loans to Funding - All
Banks
20.0%
10.0%
0.0%
2011
2012
2013
2014
8
Banking Sector - Earnings & Profitability
The years 2011-2012 were particularly challenging for European and South American banks with large trading
and investment portfolios. They incurred significant trading losses due to market volatility, the sovereign debt
crisis in Europe and deteriorating macroeconomic conditions as seen in the effects of lower oil prices and
higher rates of unemployment.
2011
Banking Sector (Millions U$D)
2012
2013
2014
Net Interest Inc ome
3,768
4,060
2,696
Net Non-Interest Inc ome
1,578
585
1,290
1,070
-146
74
-224
-1,873
Provisions For Credit Losses /Rec overies
2,395
Other Inc ome
113
962
1,974
1,506
Trading Inc ome (Gain/Loss on Financ ial Instruments)
184
-3,168
1,343
1,529
Operating Inc ome
5,497
2,512
7,079
4,625
Net Inc ome Before Taxes & Dividends
4,331
1,388
5,920
3,374
Net
3,747
641
5,556
3,212
Inc ome Retained
Earnings & Profitability (Millions U$D)
8,000
Net Interest Income
6,000
Net Non-Interest Income
4,000
Provisions For Credit Losses /Recoveries
2,000
Other Income
Trading Income (Gain/Loss on Financial
Instruments)
-
Operating Income
-2,000
Net Income Before Taxes & Dividends
-4,000
2011
2012
2013
2014
Net income retained decreased by 82.9% from US$3.75 billion in 2011 to a low of US$641 million in 2012 mainly
due to significant trading losses by European banks. The sectors' net income improved in 2013 and 2014, from
improvements in trading income and other income, to a high of US$5.56 billion in 2013. The decrease in net
income to US$3.21 billion in 2014 was due mainly to large provisions for credit losses by European banks.
6,000
5,557
Millions U$D
5,000
4,000
3,747
3,217
3,000
2,000
1,000
641
-
2011
2012
2013
Year
9
2014
Net Income Retained
Financial Soundness Indicators
Banking Sector, 2013-2014
Outlook
The Financial Soundness Indicators (FSI's) for the period under review suggest that the Cayman Islands banking
sector remains stable post-global crisis with capital adequacy ratios (CARs) above regulatory requirements and
that it has remained profitable despite challenging macroeconomic environments and sporadic market volatility.
Improvements in some key indicators such as net interest margin and increased provisions for expected credit
losses indicate that the sector is poised for improved performance in 2015. Exogenous variables such as inflation
in South American markets, changes in the US low interest rate policy and global economic growth should be
closely monitored for any effects on the health and soundness of the banking sector.
Capital Adequacy Ratios
The retail sector experienced a slight reduction in CARs from 18.3% to 17.6% in 2014, due to an increase in loan
write-offs over the 2013-2014 period. Subsidiaries in the non-retail sector had a reduction in CAR from 36% to
29.5% at end-2014, due to an increase in provisions for credit losses, which also caused a decrease in Tier II
capital from unaudited net losses and a slight reduction in capital to assets.
Asset Quality
Non-performing loans (NPLs), a measure of deteriorating asset quality, increased marginally for the sector from
0.4% in 2013 to 0.6% in 2014. The retail sector showed signs of improvement in asset quality as seen by a
reduction in NPL's from 3.8% to 2.7% and a corresponding decrease in non-performing loans (net of provisions)
to capital from 13.8% to 9.8% reflecting improved asset quality at end-2014. NPLs for the non-retail branches
showed a marginal increase from .04% to .05%, while non-retail subsidiaries experienced a significant
deterioration in asset quality from 0.5% in 2013 to 6.9% in 2014.
Earnings and Profitability
Over 2013-2014, earnings and profitability declined for the sector with mixed results. The retail banks
maintained a stable return on assets (RoA) and equity (RoE), whereas the non-retail subsidiaries experienced a
significant reduction in profitability as seen by a reduction in RoA from 6% to (5.0%) and RoE from 1.2% to
(0.8%) over the 2013-2014 period.
Liquidity
Liquid assets to total assets, an indication of liquidity available to meet expected and unexpected demands for
cash, increased for the entire banking sector from 52.3% to 53.5%. However, liquidity declined from 35.5% to
24.2% for retail banks and from 50.2% to 40.1% for subsidiaries, while branches, mainly US banks, increased
marginally from 52.6% to 54.1%
10
Banking Sector - Core Financial Soundness Indicators
Retail Banks
Subsidiaries
Branches
2013
2014
2013
2014
2013
2014
Regulatory Capital to risk-weighted assets
18.3
17.6
36.0
29.5
n/a
n/a
n/a
n/a
Regulatory Tier 1 Capital to risk-weighted assets
17.5
16.0
31.9
27.1
n/a
n/a
n/a
n/a
Regulatory Tier II Capital to risk-weighted assets
0.8
1.6
14.8
8.6
n/a
n/a
n/a
n/a
Total Regulatory Capital to total assets
9.6
10.7
29.7
23.7
n/a
n/a
n/a
n/a
13.8
9.8
(0.92)
0.01
n/a
n/a
n/a
n/a
3.8
2.7
0.5
6.9
0.4
0.5
0.4
0.6
n/a
n/a
Indicator (%)
Sector
2013 2014
Capital Adequacy
Asset Quality
Nonperforming loans (net of provisions) to capital
Nonperforming loans to gross loans
Earnings and Profitability
Return on equity
8.8
8.4
6.0
(5.0)
n/a
n/a
Return on assets
0.96
0.98
1.20
(0.8)
0.4
0.1
0.4
0.1
Interest margin to gross income
69.6
71.9
21.0
31.0
34.9
48.7
34.9
47.8
Noninterest expenses to gross income
58.0
58.3
54.6
51.0
12.4
22.8
20.1
29.8
35.5
24.2
50.2
40.1
52.6
54.1
52.3
53.5
Liquidity
Liquid assets (core) to total assets
Banking Sector - Encouraged Financial Soundness Indicators
Retail Banks
Subsidiaries
Branches
2013
20.0
2014
15.6
2013
n/a
2014
n/a
Sector
2013 2014
17.3
14.6
102.6
444.8
401.9
495.0
397.5
461.6
372.8
6.4
(10.1)
(8.9)
22.2
26.7
17.4
19.8
21.3
21.3
63.9
48.2
15.8
2.2
22.2
10.6
50.8
49.0
58.2
45.9
19.9
28.3
37.6
36.0
Residential Real Estate Loans to gross loans
28.4
27.1
6.9
6.0
3.5
3.9
3.9
4.3
Commercial Real Estate Loans to gross loans
9.6
5.1
1.3
1.3
0.3
0.3
0.5
0.4
Indicator (%)
Capital to assets
2013
11.0
2014
11.8
Customer deposits to total (noninterbank) gross loans
131.1
8.5
Fees & Commissions to Gross Income
Personnel expenses to noninterest expenses
Trading foreign exchange gains (losses) to gross income
11
Banking Sector - Nonperforming Loans
Post-global crisis, the Banking Sector experienced a significant increase in NPLs for a high of 1.2% or US$5.2
billion for 2011, 1.25% or US$5.5 billion in 2012, 0.4% or US$2.2 billion in 2013 and 0.6% or US$2.9 billion
in 2014, of which Branches accounted for $4.8 billion, $5.1 billion, $1.9 billion and $2.3 billion, respectively.
Of the total NPLs for the banking sector over 2011-2012, branches accounted for an average of 92% or US$4.9
billion, which decreased over the 2013-2014 period to an average of 82% or US$2.1 billion, due to improved
conditions in the US economy where most of the branches operate. At end-2014, branches experienced a slight
increase in NPLs which contributed to the increase for the banking sector from 0.4% in 2013 to 0.6% for 2014.
NPLs for subsidiaries increased over the 2013-2014 period from 0.50% or $33 million to 6.9% or $436 million due
mainly to the economic conditions and market volatility in Europe and South America where the majority of
these banks operate, and the late recognition of the deterioration of the asset quality.
Retail banks, on the other hand, experienced a decrease over the 2013-2014 period from 3.8% or $280 million to
2.7% or $216 million due to loan write-offs and a marginal slowdown in loan growth of $30 million in the
domestic sector.
NPL's, Loan Loss Provisions, Gross Loans (Millions U$D)
5,541
528,191
7,500
6,500
N
P
L
'
s
P
r
o
v
i
s
i
o
n
s
5,262
540,000
520,000
528,839
2,959
5,500
500,000
498,990
4,500
3,500
2,234
462,332
2,700
2,500
L
480,000 O
A
460,000 N
S
440,000
1,500
1,492
1,537
1,012
500
420,000
2011
2012
2013
12
2014
NPL's
Loan Loss Provisions
Loans
Banking Sector - International Assets and Liabilities
As at end-2014, the Cayman Islands ranked 6th internationally in terms of cross-border assets of US$1.42
trillion and 5th by cross-border liabilities of US$1.44 trillion booked by the banking sector with non-residents.
In addition, the banking sector also booked US$25 billion and US$50 billion of assets and liabilities in the
domestic market with other Cayman Islands licensed entities for a total of US$1.44 trillion and US$1.49 trillion
of international (cross-border and domestic) assets and liabilities.
Total International Assets - All Currencies
(Millions U$D)
1,600,000
1,400,000
1,200,000
1,000,000
Total International Assets All Currencies
800,000
600,000
o/w Domestic (Local)
Assets in Foreign Currency
400,000
200,000
2011
2012
2013
Non-Bank
Total
Non-Bank
Total
Non-Bank
Total
Non-Bank
Total
-
o/w External (CrossBorder) Assets in all
Currencies (Dom. & For.)
2014
Total International Liabilities-All Currencies
(Millions U$D)
1,800,000
1,600,000
1,400,000
1,200,000
Total International
Liabilities - All Currencies
1,000,000
800,000
600,000
o/w Domestic (KY) Liabilities
in Foreign Currency
400,000
200,000
2011
2012
2013
Non-Bank
Total
Non-Bank
Total
Non-Bank
Total
Non-Bank
Total
-
2014
13
o/w Cross-Border Liabilities
in all Currencies (Dom. &
For.)
Banking Sector - Cross-Border Activity
Of the banking sector's US$1.44 trillion of cross-border liabilities, 89.6%% or US$1.291 trillion was used to
book positions with Developed Countries (primarily North America and Europe), with the remaining
distributed mainly to Developing Latin America & Caribbean (primarily South America) and Offshore
Centres. This highlights the role of the Cayman Islands' banking sector as a financial intermediary to raise
funds in the international market to provide liquidity and capital to Parent Groups and credit to private
sector entities and households.
Cross-Border Assets and Liabilites by Region - Dec . 2014
(US$ Billions)
Assets
1,291
1,212
1
Developed
Countries
3
Developing
Europe
39
66
Offshore
Centres
Liabilities
78
64
3
Developing
Latin America
& Caribbean
13
Developing
Africa &
Middle East
12
63
23
Developing Unallocated Asia & Pacific Own Issues of
Securities
Of the US$1.44 and US$1.49 trillion in assets and liabilities as at end-2014, 71% or US$1.017 trillion and 63% or
US$912 billion are interbank assets and liabilities, respectively. Of these interbank positions, 95% or US$972
billion and 71% or US$649 billion were intrabank placements booked cross-border with onshore Parent Group
Banks.
Cross-Border Interbank and Intrabank Positions
1,600
1,443
1,423
1,400
US$ Billions
1,200
1,000
1,017
972
912
800
649
Total
600
Interbank
400
Intrabank
200
Cross-Border Assets
Cross-Border Liabilities
Dec 2014
14
Banking Sector - Domestic Activity
At end-2014, the banking sector booked US$25 billion in assets and held US$50 billion in deposit liabilities as
interbank and intrabank placements with other Cayman Islands licensed banks and other non-financial
corporations, which are considered residents of the domestic economy.
.
Category A retail and non-retail banks booked $5 billion in assets and US$11 billion in liabilities, while category B
banks booked US$20 billion in assets and US$39 billion in liabilities. These positions were primarily by banks
from South America and Developed Countries (North America and Europe). The high level of domestic assets
booked by South American banks are intrabank bookings and credit with other Cayman Islands licensed entities,
operating in South America, providing credit to the South American economy. This is in contrast to the smaller
amount of assets booked by banks from Developed Countries whose main activity is to provide liquidity to their
non-resident Parent Groups operating in the global economy in international markets.
Total Domestic Assets & Liabilities in Foreign Currency
by Region 2014 (Millions U$D)
100%
307
3,685
156
978
90%
80%
70%
60%
16,434
17,277
Non-reporting developing
Africa and Middle East
Offshore centres
50%
Latin America and Caribbean
40%
Developed countries
30%
20%
10%
6,402
29,886
Assets
Liabilities
0%
15
Category A - Retail Banks - Balance Sheet Profile
Over the 2011-2014 period, the retail banking sector’s total assets and liabilities averaged $13.827 billion with a
year-on-year increase from 2011 to 2013, but declined by US$1.865 billion to US$12.936 billion at end-year
2014, primarily as a result of a reduction in the number of retail banks. The sector’s asset distribution is
indicative of banks conducting traditional retail banking services, while diversifying their exposures and
concentration. At end-2014, the banks' funding was fully from core retail deposits, with no reliance on
wholesale funding. Shareholders Equity showed constant positive performance, despite domestic macroeconomic challenges such as lingering high rates of unemployment and low interest rate margins.
Category A Banks- Retail - Calender Year (Millions U$D)
ASSETS
2011
2012
2013
2014
Cash Items
4,355
4,356
5,082
3,376
Financial Assets at Fair Value
9
0
14
12
Investments - Held-to-Maturity
123
205
200
253
Investments - Available-for-sale
924
1,033
865
1,307
Other Investments
105
101
100
89
7,689
8,072
8,209
7,588
46
57
46
62
7,642
8,014
8,152
7,526
Loans and Advances
Less Loan Loss Provsions
Net Loans
Other Assets
TOTAL ASSETS
LIABILITIES
Deposits
454
426
384
374
13,616
14,135
14,801
12,936
2011
2012
2013
2014
11,916
12,478
13,144
11,369
Repurchase Agreements (REPOS)
0
0
0
0
Hybrid Debt and Subordinated Debt
0
0
0
0
Other Notes, Bonds and Commercial Paper
Other Borrowings
Creditors and Other Liabilities
Other Loss Provisions
TOTAL LIABILITIES
TOTAL SHAREHOLDERS EQUITY
0
0
0
0
14
6
16
0
179
104
106
34
22
18
31
35
12,131
12,606
13,299
11,440
1,485
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
16
13,616
1,529
14,135
1,501
14,801
1,496
12,936
Category A - Retail Banks - Assets Distribution
At end-2014, of total loans of US$7.58 billion, 51% or US$3.86 billion and 49% or US$3.72 billion were
resident and non-residents loans, respectively, reflecting a large non-resident portfolio for domestic retail
banks. Lending to resident households as residential mortgages and consumer loans represented the largest
exposure to the domestic private sector market at 56% or US$2.15 billion of total resident loans at end-2014,
which reflected an increase of 29% or US$458 million from US$1.69 billion in 2013. The Herfindahl-Hirschman
Index (HHI), used to measure concentration in private sector lending increased by 14% from 510 to 580 at
end-2014, of which the household sector accounted for 10%. With the reduction in the number of retail
banks, the market share of each bank's exposure to the household sector increased and ranged from 3% to
12%, but still depicts an un-concentrated market within the banks' market share and signals a healthy market
environment.
Asset Distribution - Retail Banks
120.0%
100.0%
3.3%
3.0%
2.6%
2.9%
56.3%
56.9%
55.3%
58.4%
80.0%
Other Assets
Loans and Advances
60.0%
Other Investments
40.0%
20.0%
Debt Securities
7.3%
7.7%
8.7%
31.9%
30.7%
34.2%
2011
2012
2013
Cash Items
12.1%
26.0%
0.0%
2014
The retail banking sector's largest exposure at end-2014 was 77% or US$2.89 billion of non-resident loans to
various non-financial corporations in the South American market, a decrease from 82% or US$3.5 billion in 2013.
2013
Retail Banks (Millions U$D)
2014
NonResident
Resident
LOANS AND ADVANCES
Resident
NonResident
618
15
591
66
77
0
89
43
0
90
0
41
21
0
16
0
0
0
0
0
Non-Financial Corporations - Commercial private sector
744
3,555
799
2,891
Non-Financial Corporations - Commercial Mortgages
328
236
82
217
25
114
71
104
324
26
355
66
1,638
225
1,799
228
Sovereigns & Central Banks
Non Central Government Public Sector Entities (PSEs)
Group Bank - Parent, Branch, Subsidiary or Affiliate
Group non-bank entities
Other Banks
Other Financial Corporations - Financial intermediaries
Retail Lending/Consumer Loans - Households
Residential Mortgages - Households
Other loans and advances
TOTAL
17
121
52
64
66
3,896
4,313
3,866
3,722
Category A - Retail Banks - Funding Distribution
Over the 2011-2014 period, customer deposit funding for retail banks averaged 99.9%, as would be
expected based on their core business. The retail banks' resident deposits consisted mainly of deposits from
Households of US$1.8 billion or 30%, Non-Financial Corporations (private sector) of US$1.7 billion or 29%
and Other Financial Corporations (namely investment funds) of US$1.27 billion or 21% at end-2014.
In the non-resident sector, the sectors' funding was primarily from Group Banks and has increased by 10%,
from 55% or US$3.119 billion in 2013 to 65% or $3.356 billion in 2014, while deposits from Non-Financial
Corporations decreased by 8% from 28% or US$1.574 billion in 2013 to 20% or US$1.025 billion in 2014.
Funding - Retail Banks
120.00%
100.00%
80.00%
Deposits
60.00%
Other Borrowings
(loans, overdrafts, etc.)
40.00%
20.00%
0.00%
2011
2012
2013
2014
Overall, funding declined by US$1.7 billion from US$13.14 billion in 2013 to US$11.37 billion at end-2014, due
mainly to a reduction in the number of retail banks, which was offset by a reduction in placements of CDs of
$1.6 billion within the Parent Groups sector, while the banking book was sold to another retail bank.
2013
Retail Banks (Millions U$D)
2014
Resident
NonResident
Resident
NonResident
Sovereign
565
20
553
32
Non-Central Government Public Sector Entities (PSEs)
124
15
156
15
DEPOSITS
Multilateral Development Banks (MDBs)
0
0
0
0
Group Bank - Parent, Branch, Subsidiary or Affiliate
39
3,119
28
3,356
Group non-bank entities
98
0
56
0
Other Banks
150
1
243
2
Non-Financial Corporations - Commercial private sector
2,115
1,574
1,789
1,025
Other Financial Corporations - Financial intermediaries
2,368
212
1,271
155
Individuals - Households
1,781
410
1,870
537
194
360
210
70
7,434
5,711
6,176
5,192
Other deposits
TOTAL
18
Category A - Non-Retail Banks - Balance Sheet Profile
.The category A non-retail banking sector assets and liabilities averaged $8.663 billion with a year-on-year
decline from 2011 to 2013, due primarily to a reduction in deposits from European banks licensed in this
category, and the transition of a category A non-retail bank to a category B licence. Like the overall banking
sector, the non-retail sector is showing gradual improvements, with an increase in total assets of $843 million
from $7.705 billion in 2013 to $8.548 billion at end-2014. In contrast to the retail banking sector, the
category A non-retail banks' balance sheet profile depicts an average of 70% in Cash Items and 25% in Loans
which is indicative of the banks' business function of investment banking services and providing liquidity to
their Parent Groups.
Category A Banks- Retail - Calender Year (Millions U$D)
ASSETS
2011
2012
2013
2014
Cash Items
7,153
6,535
5,105
5,282
0
0
18
38
Investments - Held-to-Maturity
55
0
159
135
Investments -Available-for-sale
53
68
21
50
5
5
16
4
1,884
1,901
2,087
2,673
Financial Assets at Fair Value
Other Investments
Loans and Advances
Less Loan Loss Provsions
0
0
1
0
1,884
1,901
2,086
2,673
382
36
299
366
9,532
8,870
7,705
8,548
LIABILITIES
2011
2012
2013
2014
Deposits
7,778
7,163
5,933
6,666
Repurchase Agreements (REPOS)
0
0
0
0
Hybrid Debt and Subordinated Debt
0
0
0
0
Other Notes, Bonds and Commercial Paper
0
0
0
0
Other Borrowings
252
201
288
321
Creditors and Other Liabilities
499
503
463
538
0
0
0
2
8,529
7,867
6,684
7,527
Net Loans
Other Assets
TOTAL ASSETS
Other Loss Provisions
TOTAL LIABILITIES
TOTAL SHAREHOLDERS EQUITY
1,003
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
19
9,532
1,003
8,870
1,021
7,705
1,021
8,548
Category A Banks - Non-Retail Banks - Asset Distribution
As at end-2014, assets of US$8.5 billion were held by the non-retail banking sector, of which Cash Items
accounted for 62% or US$5.28 billion and Loans accounted for 31% or US$2.67 billion. 93% or US$4.9 billion of
the US$5.28 billion in Cash Items was placed with non-resident Parent Groups and 82% or $2.2 billion of the
US$2.67 billion in loans was with non-residents. Of the $2.2 billion in non-resident loans, 53% or US$1.16 billion
was booked with households as Retail and Consumer Loans in the US market and 43% or US$952 million was
booked with non-resident non-financial corporations in a number of South American and Caribbean countries,
highlighting the role of these banks in the international financial markets.
Asset Distribution -Non Retail Banks
8,000
7,000
6,000
Millions U$D
5,000
Cash Items
4,000
Debt Securities
Other Investments
3,000
Loans and Advances
Other Assets
2,000
1,000
0
2011
2012
2013
2014
Year
2013
Non-Retail Banks (Millions U$D)
2014
Resident
NonResident
Resident
NonResident
Cash
0
0
0
0
Gold and bullion
0
0
0
0
Cash items in process of collection
0
0
0
0
56
5,049
18
5,264
38
4,716
6
4,899
0
0
0
0
18
333
12
363
CASH ITEMS
Balances & CD's :
o/w Group Bank - Parent, Branch, Subsidiary or Affiliate
o/w Group non-bank entities
o/w Other Banks
Due from financial institutions
TOTAL
0
0
0
2
56
5,049
18
5,264
2013
Non-Retail Banks (Millions U$D)
2014
Sovereigns & Central Banks
0
NonResident
0
0
NonResident
0
Non Central Government Public Sector Entities (PSEs)
0
0
0
0
Multilateral Development Banks (MDBs)
0
0
0
0
Group Bank - Parent, Branch, Subsidiary or Affiliate
0
0
0
0
154
4
146
0
0
0
0
0
29
586
13
952
Resident
LOANS AND ADVANCES
Group non-bank entities
Other Banks
Non-Financial Corporations - Commercial private sector
Resident
0
0
0
0
160
27
277
54
Retail Lending/Consumer Loans - Households
0
1,083
0
1,175
Residential Mortgages - Households
4
1
24
4
Other loans and advances
0
40
1
28
347
1,741
461
2,213
Non-Financial Corporations - Commercial Mortgages
Other Financial Corporations - Financial intermediaries
TOTAL
20
Category A - Non-Retail Banks - Funding Distribution
Over the 2011-2014 period, an average of 96% of the funding for the non-retail banking sector was from
core retail deposits, while 4% was from other borrowings. Resident OFIs provided 93% or US$4.234 billion
of the $4.54 billion in deposits, while non-resident OFIs provided 48% or US$1.03 billion of the US$2.12
billion, which is indicative of the role the banks in this sector play in the domestic and international
investment business sector. Funding from non-resident OFIs decreased by 17% from US$1.205 billion in
2013 to US$1.035 billion in 2014, while funding from Non-Financial Corporations showed a 116% increase
from US$341 million to US$742 million in 2014.
Funding - Non-Retail Banks
Deposits
Other Borrowings (loans, overdrafts, etc.)
97.27%
96.87%
3.13%
2011
95.41%
95.37%
4.63%
2.73%
2012
4.59%
2013
2014
Overall, of the US$6.6 billion in deposits at end-2014, Other Financial Corporations (investment fund business)
account for US$4.2 billion from resident entities and US$1.03 billion from non-resident entities, accounting for
80% of the total non-retail banks deposit funding. This reflected a high rate of interconnectedness to the
resident investment fund business sector.
2013
Non-Retail Banks (Millions U$D)
2014
NonResident
Resident
0
0
DEPOSITS
Sovereign
NonResident
0
0
Resident
Non-Central Government Public Sector Entities (PSEs)
0
0
0
0
Multilateral Development Banks (MDBs)
0
0
0
0
Group Bank - Parent, Branch, Subsidiary or Affiliate
0
0
14
1
Group non-bank entities
2
2
0
0
Other Banks
2
0
3
13
Non-Financial Corporations - Commercial private sector
Other Financial Corporations - Financial intermediaries
Individuals - Households
Other deposits
TOTAL
21
180
341
258
742
3,908
1,205
4,234
1,035
28
232
31
301
0
33
0
32
4,120
1,813
4,540
2,124
Retail Banking Sector - Earnings & Profitability
Over the period under review, the retail banks remained profitable with an average of US$122 million in net
income retained in spite of the large sectoral exposure to the household sector in residential mortgages and
consumer loans, which are impacted by higher than normal unemployment rates and a slowdown in economic
activity. Net income earned peaked to US$145 million in 2012 from US$113 million dollars in 2011 due to a
reduction in operating expenses. The net income in the retail banking sector has experienced marginal year-onyear decreases from 2012 to 2014 due to increased impairment in the loan quality leading to a higher rate of loan
write-offs, and a reduction in the number of banks from 7 to 6 banks.
Retail Banks Income (Millions U$D)
Net Interest Income
Net Non-Interest Income
Provisions For Credit Losses /Recoveries
Other Income
Trading Income (Gain/Loss on Financial Instruments)
Operating Income
Income Before Taxes & Dividends
Net Income Retained
2011
2012
2013
2014
268
89
13
7
38
390
173
113
271
81
28
0
34
359
152
145
277
84
31
2
34
367
136
120
274
81
29
1
24
351
130
112
Earnings & Profitability (millions U$D)
450
Net Interest Income
400
350
Net Non-Interest Income
300
Provisions For Credit Losses
/Recoveries
250
Other Income
200
Trading Income (Gain/Loss on
Financial Instruments)
150
Operating Income
100
Income Before Taxes & Dividends
50
Net Income Retained
0
2011
2012
2013
2014
22
Financial Soundness Indicators - Retail Banking Sector
Capital Adequacy Ratios (CAR)
The capital adequacy ratio for the six retail banks remains above the 8% threshold prescribed by the Basel
Capital Requirements, the 10% requirement of the Banks and Trust Companies Law (2013 Revision), and the
regulatory requirements of 12% for subsidiaries and 15% for privates and affiliates.
Asset Quality
Over the 2011-2014 period, the banks experienced deterioration in asset quality, primarily in the household
sector, due to a slowdown in the economy and increased unemployment, which resulted in increased loan
write-offs and a reduction in CAR to 17.6% at end-2014. NPLs declined from 3.8% in 2013 to 2.7% at end-2014,
reflecting improved asset quality as seen by the reduction in provisioning for NPL's from 13.8% in 2013 to 9.8%
at end-2014, due in part to loan write-offs and slower asset growth in loans.
Earnings and Profitability
Banks continue to remain profitable with stable operating income levels and marginal reductions in net income
retained since 2012, as seen by a reduction in RoE from 9.3% in 2012 to 8.4% at end-2014.
Liquidity
The sectors' level of liquidity remains high by industry norms though decreasing to 24.2% for liquid assets to
total assets and 45.2% for liquid assets to short-term liabilities as at end-2014, respectively, caused mainly by a
decrease in resident deposit funding from the OFIs sector and the effects of a reduction in the number of banks
in this sector.
23
Domestic Retail Banks - Core Financial Soundness Indicators
Indicator (%)
Capital Adequacy
Regulatory Capital to risk-weighted assets
Regulatory Tier 1 Capital to risk-weighted assets
Regulatory Tier II Capital to risk-weighted assets
Total Regulatory Capital to -Total assets
Nonperforming loans (net of provisions) to capital
2011
2012
2013
2014
22.2
21.0
1.2
7.8
13.3
19.8
18.7
1.1
10.3
12.7
18.3
17.5
0.8
9.6
13.8
17.6
16.0
1.6
10.7
9.8
3.0
3.4
3.8
2.7
Earnings and Profitability
Return on equity
Return on assets
Interest margin to gross income
Noninterest expenses to gross income
9.0
0.8
70.4
57.1
9.3
1.10
70.1
53.6
8.6
0.96
69.6
58.0
8.3
0.98
71.6
58.3
Liquidity
Liquid assets (core) to total assets ****
Liquid assets (core) to short-term liabilities ***
24.9
34.7
33.0
59.1
35.5
76.5
24.2
45.2
Indicator (%)
2011
2012
Capital to assets
Trading income to gross income
Personnel expenses to noninterest expenses
Customer deposits to total (noninterbank) Gross Loans
8.8
8.5
50.3
174.9
27
6.0
11.3
8.7
31.8
125.6
26.1
6.3
2013
11.0
8.5
50.8
141.7
2014
11.8
6.4
49.0
102.6
28.4
9.6
27
5.1
Asset Quality
Nonperforming loans to total Gross Loans
***Liquid assets (core) are defined as Cash Items and Short-Term Liabilities are Deposits up to 90 days
Domestic Retail Banks - Encouraged Financial Soundness Indicators
Residential real estate loans to Total Loans
Commercial real estate loans to Total Loans
Retail Banks - Nonperforming Loans
24
Over the 2011-2014 period, NPLs ranged from 3.0% in 2011, with a record high of 3.8% in 2013 to 2.7% at end2014, which though above the pre-crisis range of 1.9% in 2008 is still relatively low when compared regionally
and internationally. The increase in NPLs post-global financial crisis was due mainly to an increase in
unemployment, at 10.5% in 2012, 9.4% in 2013 and 7.9% at end-2014 (for Caymanians, the majority of the
market) and a slowdown in economic activity with gross domestic product (GDP) slow growth rate of 1.2% to
1.4% for 2012 and 2013, respectively.
The decrease in NPLs at end-2014 is due to a number of factors, namely, the improvement in asset quality by
loan-write-offs over this period, a decrease in the unemployment rate, an increase in economic activity as seen
by a 2.1% increase in GDP for 2014 and the reduction in the number of retail banks in the market.
A review of the decomposition of NPLs show that the majority of the NPL's were concentrated in the domestic
Household Sector in residential mortgages and retail/consumer loans and the Non-Financial Sector - Commercial
Private Sector, as expected, as these are two main sectors of loan concentration for the retail banks.
NPL by Counterparty Sector for Retail Banks 2011-2014 (%)
100%
Other loans and Advances
90%
80%
Residential Mortgageshouseholds
70%
Retail Lending /Consumer LoansHouseholds
60%
50%
Other Financial CorporationsSecurities Firms
40%
30%
Other Financial CorporationsFinancial Intermediaries &
Auxiliaries
Non-Financial Corporations Commercial Mortgages
20%
10%
2011
2012
2013
Loss
Doubtful
Substandard
Loss
Doubtful
Substandard
Loss
Doubtful
Substandard
Loss
Doubtful
Substandard
0%
Non-Financial Corporations Industrial & commercial private
sector
Other banks
2014
Domestic Retail Banks - Sectoral Distribution of Loans by Resident Loans to Total Resident Gross Loans
(percentages of total)
Indicator (%)
Central Banks -Resident to Total Resident Loans
General Government - Resident to Total Resident Loans
2013
0.0
2014
0.0
15.4
15.1
Deposit Takers (Banks) -Resident to Total Resident Loans
0.6
0.3
Other Financial Corporations -Resident to Total Resident Loans
0.5
0.5
24.1
25.4
Non-Financial Corporations -Resident to Total Resident Loans
of which: Non-Financial Corporations - Commercial Mortgages - Resident
Other Domestic Sectors (Households) - Resident to Total Resident Loans
of which: Households - Consumer Loans - Resident
of which: Households - Residential Mortgages - Resident
Total
13.1
4.2
59.4
58.7
9.0
10.1
50.4
48.6
100
25
100