Diversified Leading Financial and Technology hub in Cyprus
Market leading Bank, driving incremental ROTE
Strong Macro
•
Small, open economy outgrowing Eurozone
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Healthy recovery in tourism post COVID-19
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Resilient to energy stress given no gas imports from Russia
•
•
•
Sustainable Business Model
One of the most liquid banks in Eurozone with strong NII
benefit from rising interest rates and limited funding pressure
Diversified model with meaningful capital light non-interest
income contribution
Lean operating model with sub 50% C/I ratio¹
Why
Bank of
Cyprus
.
Legacy asset quality issues firmly behind (NPEs at 4%)
•
On track to achieve ROTE4>13% in 2023
•
41% loan market share
Market Leader
• Leader in insurance, card processing and payment solutions
business
•
Liquid and consolidated banking sector; total market share of
c.70% for two main players
Shareholder Returns
•
Strong CET1 of 15.4%³ as at Dec 2022
• Strong capital generation (>13% ROTE for 2023, following
11.3% ROTE (recurring) in 2022)
Intention to commence dividend distributions from 2023
onwards²
72
1)
Excluding special levies on deposits and other levies/contributions
3)
2)
Subject to regulatory approval and market conditions
4)
Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments' transitional arrangements
ROTE: calculated as Profit after Tax divided by average Shareholders' equity minus Intangible assets
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