Bank of Cyprus Credit Ratings and Financial Position
Resumption of dividend payments after 12 years
FY2022
ROTE:10.0%
(Recurring)1
4%
NPE ratio
Balance sheet de-risking completed
49%
C/I ratio²
Improved efficiency on cost
initiatives despite inflationary
pressures
15.4% 3,4
CET1
ratio
Robust capital position with 70 bps5
organic capital generation
Proposed dividend: €0.05 per ordinary share or
14% payout ratio out of FY2022 earnings³
1) Recurring ROTE: calculated as annualised Profit after Tax and before non-recurring items divided by quarterly average
Shareholders' equity minus Intangible assets
234
2)
Excluding special levy on deposits and other levies/contributions
3)
As reported in 2022 Annual Report
4)
2022 CET1 ratio is restated to 15.2% to take into account the dividend proposal in April 2023
6)
7)
Sustainable
ROTE: >13%
2023-2024
Going forward
<5%
NPE ratio
mid-40s
C/I ratio²
Organic
capital
generation
Dividend payout ratio building progressively to
30-50% on adjusted recurring profitability6
Based on profit after tax before non-recurring items
Based on adjusted recurring profitability: The Group's profit after tax before non-recurring items (attributable to the owners
of the Company) taking into account distributions under other equity instruments such as the annual AT1 coupon
ROTE calculated as annualised profit after tax (attributable to owners of the Company) divided by quarterly average
shareholders' equity minus intangible assets
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