Investor Presentaiton
Non interest income flat qoq, despite COVID-19 lockdown
Analysis of Non Interest Income (€ mn) - Quarterly
Group Financial Results for the six months ended 30 June 2020
Net fee & Commission % of total income
22%
92
24
24
23%
72
72
14
12
10
18
12
12
25%
26%
23%
276
11
60
60
10
10
16
Net fee &
commission (€ mn)
Transactional fees
11
18
Non transactional
fees
Total
39
38
38
36
56
48
55
49
51
33
2Q2019
3
1Q2020 2Q2020
•
•
16
12
•
22
21
38
33
3Q2019
4Q2019
1Q2020
(1)
2Q2020
1
REMU²
Insurance income net of insurance claims
Net fee & commission Recurring income
-----
Net FX and other income
(1) Net FX gains/(losses & Net gains/(losses) on financial instruments, and other income
(2) Gains/(losses) from revaluation and disposal of investment properties and on disposal of stock of properties
•
Net fee and commission income of €33 mn for
2Q2020, down 13% qoq, negatively impacted by
COVID-19 lockdown
Transactional fees of €12 mn for 2Q2020, down
22% qoq, mainly due to lower volume of
transactions; transactional fee volumes expected to
recover to pre COVID-19 levels, as the Cypriot
economy continues to recover
Non transactional fees of €21 mn for 2Q2020, down
5% qoq due to the reduced Project Helix servicing
fee as a result of the transfer of c.100 employees to
the buyer in 1Q2020
Net Insurance income of €18 mn for 2Q2020,
compared to €11 mn for 1Q2020, primarily due to
the change in the valuation rate and lower motor
vehicle insurance claims
Recurring income of €51 mn for 2Q2020, compared
to €49 mn in 1Q2020, as the higher Net insurance
income offset the reduction in Net fees and
commission income
Introduction of liquidity fees to a broader group of
corporate customers that was delayed due to
COVID-19, is under consideration, once market
conditions allow this
Fees and commission charges review underway
(3) The interest income, non-interest income, staff costs, other operating expenses and loan credit losses related to Project Helix are disclosed under 'Provisions/net loss relating to NPE sales, including restructuring expenses' since they are considered one-off items
Bank of Cyprus Holdings
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