Financial Analysis and Currency Deposits
Legacy
2016
REMU-the engine for dealing with foreclosed assets
On-board assets in REMU at conservative c.25%-30% discount to OMV
BV € mn
Cumulative sales by property type; 38% of sales relate to land
Sales contract price
100%
2017
2018 2019 2020 2021-22
152
438
203
146
94
76 37 1,146
72%
avg on-boarded value as a % of OMV1
71%
72%
72%
72%
Real Estate Market property prices up 3.2% yoy in 1Q20222
Central Bank Residential Property Price index
120.0
110.0
100.0
99.1
100.0
93.2
90.0
80.0
70.0
60.0
50.0
40.0
30.0
2010Q1
Q12012
Q12013
Q12014]
Q12015
Residential Propert Price index (2010Q1=100)
1)
Open market value at on-boarding date
2)
Based on Residential price index published by Central Bank dated 1 July 2022
3)
Based on data from Land of Registry- Sales contracts
% change y-o-y (RHS)
6%
10%
Land
38%
16%
€1.69 bn
8%
22%
Commercial
Hotels
Residential
Cyreit
Overseas
Sales contracts (excl. DFAs) ³ for 1H2022 up c.40% yoy
4.0
10.366
10.347
3.2 2.0
9.242
8.734
+39%
0.2
0.0
7.968
7.063
81.2 -2.0
5,885
4,875
6,656
6.263
-4.0
4.952
6,328
4,983
4.501
5,250
3,248
-6.0
3,603
3,062
-8.0
4,367
4,481
-10.0
1,349
1,813
2,406
2,985
3,691
3,015
1,439
-12.0
2015
2016
2017
2018
2019
2020
2021
1H2021 1H2022
Sales to Cypriots
Sales to non-Cypriots
57View entire presentation