Bank of Cyprus Credit Ratings and Financial Position
Robust capital position with CET1 at 15.2%¹ and Total Capital ratio at 20.3%¹
min OCR requirement for 2023²
Restated for
FY2022 dividend³
20.3%
3.0%
15.2%
0.5%
(0.2%)
0.9%
(0.7%)
15.5%
15.2%
2.1%
(0.2%)
(0.3%)
10.25%
15.10%
CET1
31 Dec 2022
Organic
Capital
generation
IFRS 17
(day 1 impact)
RWAs
Final
Phasing in
of IFRS 9
Other
CET1
Accrued
31 Mar 20235 dividend
CET1 31
Mar 2023 1
AT1
T2
Post-dividend
Total Capital
ratio
31 Mar 20231
•
•
•
•
Organic capital generation4 of c.90 bps in 1Q2023
Final phasing in of IFRS 9 impact of c.65 bps on 1 January 2023
IFRS 17 day 1 (1 January 2023) benefit of c.50 bps on insurance
business equity distributed to the Bank as dividend in February 2023
The Group continues to monitor opportunities for the optimisation of its
capital position including Additional Tier1 capital
accrual
Dividend distribution
Total distribution of €22.3 mn out of FY2022 profitability, equivalent to
c.20 bps of CET1 ratio as at 31 December 2022
Payout ratio of 14% out of FY2022 Group's adjusted recurring
profitability (as reported in FY2022 Annual Report)
For CRR compliance purposes, an accrual for dividend at a payout ratio
of 30% of the Group adjusted recurring profitability for the period, in line
with the Group's approved dividend policy7, was recognised
Based on profit after tax before non-recurring items
Includes unaudited/unreviewed profits for 1Q2023
F
Includes unaudited/unreviewed profits for 1Q2023 and for compliance with CRR an accrual for an estimated final dividend at
a payout ratio of 30% of the Group's adjusted recurring profitability in line with the Group's approved dividend policy. Any
recommendation for a dividend is subject to regulatory approval
456
4)
5)
6)
23
2)
OCR - Overall Capital Requirement (refer to slide 43)
3)
Opening CET1 restated following ECB approval and BOD recommendation for a final dividend payment of €22.3 mn out of
FY2022 profitability. Dividend payment is subject to shareholders approval at the AGM on 26 May 2022
7)
Any recommendation for a dividend is subject to regulatory approval
Profit after tax before non-recurring items (attributable to the owners of the Company) taking into consideration
the AT1 coupon
23View entire presentation