Investor Presentaiton
CET1 at 14.6% pro forma for Helix 24
min OCR (SREP) requirement for 2020 post ECB Announcement ³
18.3%
1.7%
14.8%
0.4%
(0.2%)
(0.1%)
14.4%
14.6%
2.0%
(0.5%)
0.2%
9.7%
9.7%
CET1 31 Dec Operating
2020 1
Provisions
Other
profit
and
impairments 2
Phasing in CET1 31 Mar
of IFRS9
2021
Helix 2
1
CET1 31 Mar
2021 pro
form a for
1,4
Helix 2
AT1
T2
Total
capital ratio
31 Mar 2021
pro forma
14.5%
for Helix 2 1,4
Group Financial Results for quarter ended 31 March 2021
• CET1 ratio¹ positively impacted by:
c.40 bps organic capital generation from operating profitability
• CET1 ratio¹ negatively impacted by:
• c.20 bps from provisions and impairments
•
c.45 bps from the phasing in of IFRS 9
The CET1 ratio fully loaded of 13.1% and 13.3% pro forma for Helix 24
• Onsite inspection and review by the SSM on the stock of REMU properties
completed. Findings relating to a prudential charge of up to 44 bps, the
majority of which is expected to be taken at 30 Jun 2021, depending on the
Bank's progress in disposing the properties impacted by the prudential charge
Successful refinancing of Tier 2 in April 2021;Total capital ratio expected to
increase by c. 100 bps to 19.2% 1,4,5
1)
2)
3)
4)
5)
Allowing for IFRS 9 and starting from 3Q2020, also for temporary treatment for certain FVOCI instruments transitional arrangements
Loan credit losses and other impairments include the net change of the prudential charges relating to specific credits and other items
OCR(SREP)- Overall Capital Requirement comprises the Total SREP Capital Requirement (Pillar 1 and Pillar 2 Requirement) plus combined buffer requirements (capital conservation buffer, countercyclical buffer and systemic buffers)
Pro forma for Helix 2 (Portfolio A and B). Calculations on a pro forma basis assume legal completion of the transaction
On the basis of 31 March 2021 figures. Together with the Existing Notes that remain outstanding after the Tender Offer of €43 mn, the Total Capital ratio pro forma for Helix 2 is expected to increase to 19.5%, including 28 bps relating to the outstanding Existing Notes. The Existing
Notes are redeemable at the option of the Bank (subject to applicable regulatory consents) in January 2022.
Bank of Cyprus Holdings
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