Market Leader with Potential for Further Penetration
Glossary & Definitions
GBV
Gross Book Value.
Gross Loans
Gross Sales Proceeds
Group
IB, W&M
IBS
Legacy exposures
Liquid assets
Loan credit losses (PL) (previously
'Provision charge')
Market shares
MSCI ESG Rating
Net Proceeds
Net loans and advances to
customers
Performing loan book (previously
non-legacy)
Net zero emissions
New lending
Gross loans comprise: (i) gross loans and advances to customers measured at amortised cost before the residual fair value adjustment on initial recognition (including loans and advances to
customers classified as non-current assets held for sale where applicable) and (ii) loans and advances to customers classified and measured at FVPL adjusted for the aggregate fair value
adjustment.
Gross loans are reported before the residual fair value adjustment on initial recognition relating mainly to loans acquired from Laiki Bank (calculated as the difference between the outstanding
contractual amount and the fair value of loans acquired) amounting to €78 mn as at 31 March 2023 (compared to €86 mn as at 31 December 2022 and €149 mn as at 31 March 2022).
Additionally, gross loans include loans and advances to customers classified and measured at fair value through profit or loss adjusted for the aggregate fair value adjustment of €208 mn as at 31
March 2023 (compared to €211 mn as at 31 December 2022 and €312 mn at 31 March 2022).
Proceeds before selling charge and other leakages.
The Group consists of Bank of Cyprus Holdings Public Limited Company, "BOC Holdings" or the "Company", its subsidiary Bank of Cyprus Public Company Limited, the "Bank" and the Bank's
subsidiaries.
International Banking, Wealth and Markets.
Servicing exclusively international activity companies registered in Cyprus and abroad and not residents.
Legacy exposures are exposures relating to (i) Restructuring and Recoveries Division (RRD), (ii) Real Estate Management Unit (REMU), and (iii) non-core overseas exposures.
Cash, placements with banks, balances with central banks and bonds.
Loan credit losses comprise: (i) credit losses to cover credit risk on loans and advances to customers, (ii) net gains on derecognition of financial assets measured at amortised cost and (iii) net gains
on loans and advances to customers at FVPL, for the reporting period/year.
Both deposit and loan market shares are based on data from the CBC. The Bank is the single largest credit provider in Cyprus with a market share of 42.4% as at 31 March 2023 compared to
40.9% as at 31 December 2022, and 41.9% as at 31 March 2022.
The use by the Company and the Bank of any MSCI ESG Research LLC or its affiliates ('MSCI') data, and the use of MSCI Logos, trademarks, service marks or index names herein, do not
constitute a sponsorship, endorsement, recommendation or promotion of the Company or the Bank by MSCI. MSCI Services and data are the property of MSCI or its information providers and are
provided "as-is" and without warranty. MSCI Names and logos are trademarks or service marks of MSCI.
Proceeds after selling charges and other leakages.
Net loans and advances to customers comprise gross loans (as defined) net of allowance for expected loan credit losses (as defined, but excluding allowance for expected credit losses on off-
balance sheet exposures disclosed on the balance sheet within other liabilities).
Performing loan book is the total gross loans and advances to customers (as defined) excluding the legacy exposures (as defined).
The reduction of greenhouse gas emissions to net zero through a combination of reduction activities and offsetting investments.
New lending includes the disbursed amounts of the new and existing non-revolving facilities (excluding forborne or re-negotiated accounts) as well as the average year-to-date change (if positive) of
the current accounts and overdraft facilities between the balance at the beginning of the period and the end of the period. Recoveries are excluded from this calculation since their overdraft
movement relates mostly to accrued interest and not to new lending.
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