Bank of Cyprus Credit Ratings and Financial Position
Highly liquid balance sheet
As at 31 March 2023
(€ bn)
25.39
25.39
Other assets
1.76
1.20
Other
REMU properties
1.05
2.14
Equity
0.61
Wholesale
1.99
0.48
Funding from
Central Bank
Net loans
10.01
Due to banks
Securities
2.90
Due from banks
0.42
18.97
Cash, balances
9.25
with Central Banks
Customer
deposits
Total assets
Total liabilities
& equity
•
•
Cash, balances with Central Banks of €9.2 bn, of which €2.0 bn
TLTRO III
Immediate benefit from ECB depo rate increases¹
Securities of €2.9 bn (of which €2.7 bn fixed income portfolio)
Fixed income portfolio up 10% qoq and 48% yoy
•
•
Careful expansion to continue subject to market conditions
Net loans of €10.0 bn (of which €9.7 bn performing book)
>95% of loan book variable based including:
52% linked with Euribor; full benefit with a time lag
22% linked with Bank's base rate
17% linked with ECB MRO rate
Customer deposits of €19.0 bn
Cyprus banking system has ample liquidity; gradual deposit
repricing expected
Sticky deposit base of which 60% Retail-based
Wholesale funding of €0.6 bn
Expected to gradually increase to comply with MREL
requirements
•
On-going tangible book value build-up
31 March 2023
31 December 2022
(IFRS 17)
qoq
•
Tangible Book Value (€ bn)
1.85
1.75
5%
Tangible Book Value per share (€)
4.15
3.93
6%
1)
Excluding TLTRO III of €2 bn
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