Investor Presentaiton
Group Financial Results for the nine months ended 30 September 2020
REMU - the engine for dealing with foreclosed assets
On-board assets in REMU at conservative ~25%-30% discount to OMV
BV € mn
Evolution of properties managed by REMU
BV € mn
Investment Properties
Legacy
2016
2017
2018 2019 9M2020
1,490
112
74
(48)
(38)
1,467
(11)
109
185
550
275
209
174
74 1,467
1,378
1,358
100%
75%
71%
72%
71%
72%
01 Jan 2020
Additions
Sales
Impairment loss &
fair value losses
Transfer to non-
current assets and
disposal groups
held for sale 2
30 Sep 20203
avg on-boarded value as a % of OMV1
Real Estate Market property prices up 2.2% in 2Q20204
Sales contracts (excl. DFAs) for 10M2020 down 24% yoy 5 reflecting COVID-19 lockdown
10.366
-24%
9.242
4.0
Central Bank Residential Property Price index
00
8.734
8.549
110.0
1.8 2.2
7.063
5.885
6.508
2.0
4.875
4.793
90.0
79.4
4.952
78.6
6.328
0.0
5.250
4.023
70.0
3.603
4.367
4.481
-2.0
3.756
50.0
1.349
1.813
2.406
2.485
30.0
-4.0
2015
2016
2017
2018
2019
Q42015 Q22016 Q42016 Q22017 Q42017 Q42018 Q22019 Q42019 2Q2020
Residential Propert Price index (2010Q1=100)
Jan-Oct
2019
Jan-Oct
2020
% change y-o-y (RHS)
Sales to Cypriots
Sales to non-Cypriots
1)
Open market value at on-boarding date
2020 relate to legacy properties
2)
Stock of property with a carrying value of €11 mn as at 30 September 2020 was transferred to non-current assets and disposal groups
held for sale as it was included in the Helix 2 portfolio
4)
5)
Based on Residential price index published by Central Bank, dated 23 November 2020
Based on data from Land of Registry- Sales contracts
3)
In addition to assets held by REMU, properties classified as "Investment properties" with carrying value of €21 mn as at 30 September
Bank of Cyprus Holdings
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