Financial Analysis and Currency Deposits
Pro forma for HFS and VEP, CET1 at 14.2% 14 and Total Capital ratio at 19.3%¹4
•
•
min OCR (SREP) requirement for 2022³
19.3%
2.9%
14.6%
14.6%
0.6%
(0.3%)
(0.1%)
(0.2%)
0.6%
14.2%
(1.0%)
2.2%
15.0%
10.1%
-
-10.1%
CET1
1
31 Mar 2022
Operating
profit
Provisions and
impairments 2
6
RWAs
Other
movements
CET1
30 Jun 2022 1,4
Held for Sale
VEP
CET1 30 Jun
AT1
T2
2022 pro
Total Capital
ratio
form a for
HFS and VEP 1,4
30 Jun 2022
pro forma for
HFS and VEP 1,4
CET1 ratio¹ positively impacted by:
•
c.60 bps organic capital generation from operating profitability
CET1 ratio negatively impacted by:
•
c.30 bps from provisions and impairments
•
c.20 bps from other reserve movements (AT1 coupon payment and
movements on FVOCI)
.
•
.
•
Held for Sale expected to add c.60 bps on completion in 2H2022
VEP expected to reduce CET1 ratio by c.95 bps in 3Q2022
CET1 ratio fully loaded at 13.9% as at 30 June 2022 and 13.4% pro
forma for HFS and VEP
IFRS 17 Day 1 (January 2023) benefit on Group tangible equity estimated
at c.€50 mn, enhancing Group CET1 by additional c.50 bps5
The Group continues to monitor opportunities for the optimisation of its
capital position including Additional Tier1 capital
1)
Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
3)
OCR (SREP) - Overall Capital Requirement (refer to slide 61)
5)
2)
Loan credit losses and other impairments (include the net change of the prudential charges relating to specific credits and other items)
4)
Includes reviewed profits for the six months ended 30 June 2022
6)
Upon the upstreaming of dividend by the subsidiary
Held for sale refer to Project Helix 3 and Project Sinope
27View entire presentation