Investor Presentaiton
Income Statement
€ mn
Net Interest Income
9M2021 9M2020 3Q2021
2Q2021
qoq% yoy%
223
250
71
76
-6%
-11%
Non interest income
204
175
68
76
-10%
16%
Total income
427
425
139
152
-8%
0%
•
Total operating expenses¹
(260)
(249)
(89)
(89)
1%
4%
Operating profit
143
152
41
57
-29%
-6%
Total loan credit losses, impairments and
(76)
(158)
(26)
(24)
3%
-52%
provisions
Profit/(loss) after tax and before non-
64
recurring items²
(9)
13
34
-59%
Advisory and other restructuring costs -organic
(19)
(9)
(1)
(15)
-93%
102%
Profit/(loss) after tax-Organic²
45
(18)
12
19
-31%
Provisions/net (loss)/profit on NPE sales³
(6)
(87)
10
(14)
-94%
Restructuring and other costs³
(19)
(17)
(3)
(12)
-71%
22%
Profit/(loss) after tax²
20
(122)
19
(7)
Key Ratios
Group Financial Results for the nine months ended 30 September 2021
•
•
•
•
NII for 3Q2021 decreased to €71 mn following Helix 2
completion in June 2021 (c.€8 mn in 2Q2021)
NIM reduced to 1.34% for 3Q2021 following Helix 2
completion and 3 p.p. increase of AIEA held in liquids
(53%)
Non interest income for 3Q2021 amounted to €68 mn,
mainly due to lower net insurance income; net insurance
income mostly impacted by seasonality, higher claims
and changes in the discount rate
Total operating expenses¹ at €89 mn for 3Q2021, flat qoq
Provisions and impairments for 3Q2021 amounted to €26
mn, up 3% qoq; cost of risk at 78 bps
Profit after tax and before non-recurring items² of €13
mn for 3Q2021 and €64 mn for 9M2021
Profit after tax2 for 3Q2021 amounted to €19 mn and
€20 mn for 9M2021
ROTE 4 before non-recurring items of 3.3% for 3Q2021
and 5.2% for 9M2021
Net Interest margin (annualised)
1.49% 1.87% 1.34%
1.49%
-15 bps
Cost to income ratio
66%
64%
71%
62%
9 p.p.
-38 bps
2 p.p.
Cost to income ratio excluding
special levy on deposits and other
61%
59%
64%
58%
6 p.p.
2 p.p.
•
levies/contributions
Cost of Risk (annualised)
0.66%
1.25%
0.78%
0.52%
26 bps
-59 bps
EPS before non-recurring items
14.31
(1.99)
3.08
7.48
-4.40
16.30
(€ cent)
1)
2)
Excluding special levy on deposits and other levies/contributions
Attributable to the owners of the Company
3)
4)
Please refer to section A.2.4 "Profit/(loss) after tax (attributable to the owners of the Company)" of the 9M2021 FR Press Release
Calculated using Profit/(loss) after tax and before non-recurring items
Bank of Cyprus Holdings
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