Investor Presentaiton
Group Financial Results for quarter ended 31 March 2021
€1.4 bn NPE sales agreed since Dec 2019, reducing NPE ratio to 16%¹
•
Helix 2 Portfolio B
44% NPE reduction
9 p.p. reduction in NPE ratio
Agreement for the sale of €529 mn NPES (with reference date 30
Sep 2020) in Jan 2021
NPES (€ bn)
NPE ratio
•
Gross consideration of 44% of gross book value (based on 30 Sep
2020) and 31% of contractual balance³, payable in cash, of which
50% is deferred unconditionally up to Dec 2025
-44%
3.0
-9 p.p.
25%
•
Loan credit losses of €27 mn recorded in 4Q2020
16%
1.7
Helix 2 Portfolio A
Agreement for the sale of €886 mn NPES (with reference date 30
Jun 2020) in Aug 2020
Gross consideration of 46% of gross book value (based on 30 Jun
2020) and 29% of contractual balance³, payable in cash, of which
65% is deferred unconditionally to 3 broadly equal instalments over
48 months
Loss of €68 mn recorded in 2Q2020
Mar 21
Mar 21
pro forma
Mar 2021
for Helix 2¹
Mar 2021
pro forma
for Helix 21
CET1 ratio at 14.6% 2 pro forma for Helix 21
14.3%
14.4%
14.6%
15.2%
(1) Calculations on a pro forma basis assume legal completion of both Helix 2 Portfolio A and Helix 2 Portfolio B
(2) Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
(3) As at 30 September 2019
(4) Deferred Purchase Price
Bank of Cyprus Holdings
Jun 20
Mar 21
Mar 21 Mar 21
pro forma post DPP
for Helix 2 payment4
Total CET1 impact +16 bps:
-48 bps impact in FY2020 and 2021
until completion
+64 bps upon full payment of deferred
consideration
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