Investor Presentaiton
Wholesale funding and capital: CET1 ratio waterfall -
Fully loaded CET1 ratio advances to 14.5% at YE2021
-
in %
1.60
-0.66
0.27
-0.11
-0.18
0.12
0.13
14.50
14.20
-1.15
0.27
Reg. Min CET1 10.2% (MDA
CET1 Target 13.5%
YE'20
A RWA
Profit
threshold; P2G excluded)
Dividend
accrual
Intangibles
Risk Costs
& NPE
OCI
Minorities
DTAs
CET1 other
YE'21
CET1 ratio rises as 2021 profit generation exceeds RWA growth, other effects
• RWAs up by EUR 9.5bn to EUR 129.6bn, driven by rise in credit risk (business growth, method effects)
• Full year profit of EUR 1.927m (CRR scope), dividend of EUR 1.60 per share and AT1 coupon incorporated
• Lower deduction of intangible assets (EUR +322m) mainly driven by incorporation of prudent amortization on software assets
Favourable development of NPE backstop (EUR +90m) and lower risk costs (EUR +71mn)
• Positive OCI development mainly driven by improvement in FX translation (EUR +272mn) partly counterbalanced by lower FV
changes from debt instruments (EUR -152m)
• Increase in minorities (EUR +327m) mostly driven by early-profit inclusion of savings banks
• Rise in deduction for deferred tax assets (EUR -129m)
Higher deduction in own CET1 instruments and higher adjustments for prudent valuation (in total EUR -211m)
ERSTEŚ
Group
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