Market Leader with Potential for Further Penetration
What Makes Bank of Cyprus Different
Highly liquid
balance sheet
•
Sticky deposit base; one of the lowest loan to deposit ratios in Europe
One of the most geared banks to higher rates; 2023 NII to reach 2x 2019-2021 average
Diversified
business model
Highly profitable
Solid capital
position & generation
•
•
Non-NII sustainable revenue streams offsetting NII headwinds in a lower interest rate environment
•
Strong recovering profitability; NII growing rapidly
Improved efficiency on successful cost initiatives
Strong capital position after absorbing restructuring actions organically
•
Strong organic capital generation going forward
Resumption of
dividend payments
after 12 years
•
Accruing 30% payout ratio for 20231, equivalent to 8% yield
•
•
Payout ratio expected to build prudently and progressively to 30-50%²
Commitment to further shareholder distributions
1) For compliance with CRR an estimated final dividend at a payout ratio of 30% of the Group's adjusted recurring profitability was accrued in line with the Group's approved dividend policy. Any recommendation for a dividend is subject to
regulatory approval
2) Of adjusted recurring profitability: Profit after tax before non-recurring items (attributable to the owners of the Company) taking into consideration the AT1 coupon
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