Financial Analysis and Currency Deposits
Cost of risk of 41 bps for 2Q2022
1.18%
0.43%
0.57%
0.61%
0.21%
0.43%
0.75%
0.61%
0.40%
-(0.04%)
FY2020
FY2021
1H2021
1H2022
•
bps
52
78
35
44
41
140
Charge
(bps)
77
15
75
81
12
3-7-
51
50
17
12
71
=7=
56
36
35
36
10
2Q2021
3Q2021
4Q2021
1Q2022
2Q2022
Reversal
-7
-9
(bps)
-25
-46
-62
COVID-19
Interest on net NPEs not received in cash
New lending
Stage 3
Stage 1 & 2
Bank's IFRS 9 Macroeconomic assumptions
Base line
GDP rate
Unemployment rate
2022
2.7%
6.2%
2023
3.0%
6.3%
Cost of risk of 41 bps for 2Q2022 (€11 mn) includes:
•
•
18 bps (c.€5 mn) reflecting management overlays on
sectors (eg: tourism, private individuals, transportation,
construction and real estate) that maybe impacted by the
ongoing geopolitical uncertainty and soaring energy
prices resulting to pressure on domestic economy
5 bps (€1 mn) release due to the improved 2022 macro
outlook for the Cypriot economy, compared to 1Q2022
projections
2022 COR outlook
• Cost of risk expected at c.50 bps in 2022
33View entire presentation