Investor Presentaiton
Group Financial Results for the six months ended 30 June 2020
Balance sheet de-risking results in a smaller but safer loan book
Net Loans: Non-legacy 2 vs Legacy
Interest Income on Loans: Non-legacy 2 vs Legacy
€ mn
€ bn
15.62
14.55
36%
5.64
12.04
4.40
10.73
105
10.60
10.45
101
10.10
98
96
93
3.39
1.79
1.68
1.52
1.17
12%
27
29
87
29
23
24
24
18
12
64%
9.98
10.15
8.65
8.94
8.92
8.93
8.93
88%
74
76
75
15
75
72
55
75
75
Dec 16
Dec 17
Dec 18
Dec 19
Mar 20
Jun 20
Jun 20
2Q2019
Legacy
Non-legacy
pro forma
for Helix 21
Legacy
3Q2019
Non-legacy
4Q2019
1Q2020
2Q2020
2Q2020
pro forma
for Helix 2¹
.
Lower but higher quality income resulting from balance sheet de-risking
•
Interest Income of non-legacy book increased by €3 mn qoq, despite the sustained low interest rate environment
Interest Income of legacy book decreased by €6 mn qoq mainly due to increased cash collections of €4 mn not previously recognized in 1Q2020
•
Interest on Net NPEs not received in cash, fully provided
•
Lending rates remain under pressure due to the sustained low interest rate environment
(1) Calculations on a pro forma basis assume completion of the transaction
(2) Gross loans as at 30 June 2020 of Corporate (incl. IB and W&M and Global Corporate), SME, Retail, Insurance and H/O
Bank of Cyprus Holdings
58View entire presentation