ESG Strategy and Digital Transformation
Cost of risk of 57 bps for FY2021; 35 bps for 4Q2021
1.18%
1.12%
1.00%
0.43%
0.57%
0.75%
0.61%
(0.04%)
FY2018
FY2019
FY2020
FY2021
bps
66
52
78
35
140
92
Charge
(bps)
22
77
75
81
29
12
-7-
22
17
12
71
56
32
36
1Q2021
2Q2021
3Q2021
4Q2021
Reversal
(bps)
-26
-25
-46
-62
COVID-19
Interest on net NPEs not received in cash
New lending
Stage 3
Stage 1 & 2
Bank's IFRS 9 Macroeconomic assumptions
Base line
GDP rate
2022
4.3%
Unemployment rate
6.5%
2023
3.3%
6.4%
Cost of risk of 35 bps for 4Q2021 (€9 mn), includes a reversal
of 46 bps (€12 mn) from stage 1 and stage 2 mainly due to
improved cash collections and updated financial information
Close monitoring of sectors vulnerable to COVID-19 continues
Additionally, impairments of €23 mn mainly relate to specific,
large illiquid REMU assets
26View entire presentation