Investor Presentaiton
REMU - the engine for dealing with foreclosed assets
On-board assets in REMU at conservative c.25%-30% discount to OMV
BV € mn
Legacy
2016
2017
2018
2019 2020
Group Financial Results for the year ended 31 December 2020
Evolution of properties managed by REMU
Investment Properties
BV € mn
(80)
146
1,490
(40)
(59)
112
1,457
107
198
527
270
207
169 86 1,457
100%
74%
1,378
71%
72%
71%
72%
01 Jan 2020
Additions 2
Sales
Impairment
loss & fair
value losses
Transfer to non-
current assets
and disposal
groups held for
sale
3
avg on-boarded value as a % of OMV1
Real Estate Market property prices up 1.2% in 3Q20205
1,350
31 Dec 20204
Sales contracts (excl. DFAs) for 2020 down 23% yoy reflecting 1H2020 lockdown
120.0
4.0
Central Bank Residential Property Price index
10.366
110.0
3.5
9.242
8.734
-23%
100.0
3.0
7.968
90.0
7.063
79.1
2.5
5.885
78.6
2.2
4.875
80.0
2.0
4.952
6.328
4.983
70.0
1.2
1.5
5.250
60.0
1.0
3.603
50.0
4.367
4.481
0.5
40.0
1.349
1.813
2.406
2.985
30.0
0.0
Q32018 Q42018 Q12019 Q22019 Q32019 Q42019 Q12020 Q22020 Q32020
2015
2016
2017
2018
2019
2020
Residential Propert Price index (2010Q1=100)
% change y-o-y (RHS)
Sales to Cypriots
Sales to non-Cypriots
2)
723
1)
Open market value at on-boarding date
4)
Additions include €21 mn transfer from own properties
In addition to assets held by REMU, properties classified as "Investment properties" with carrying value of €21 mn as at 31 December
2020 relate to legacy properties
3)
Stock of property with a carrying value of €59 mn as at 31 December 2020 was transferred to non-current assets and disposal groups
held for sale as it was included in the Helix 2 (both portfolios A & B)
5)
Based on Residential price index published by Central Bank, dated 22 January 2020
6)
Based on data from Land of Registry- Sales contracts
Bank of Cyprus Holdings
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