Investor Presentaiton
Total Operating Expenses down by 18% yoy
Cost to Income Ratio (C/I ratio)1
56%
FY2018
59%
59%
58%
57%
57%
1H2019
FY2019
1Q2020
2Q2020
1H2020
•
Total operating expenses (€ mn)
-18% yoy
97
99
93
96
84
81
41
43
38
43
35
34
56
56
55
55
53
49
47
1Q2019 2
2
2Q2019
3Q2019
4Q2019
1Q2020
2Q2020
Other operating expenses Staff costs
Special Levy and contributions to SRF and DGF (€ mn)
6
6
6
7
9
6
1Q2019
2Q2019
3Q2019
4Q2019
1Q2020
2Q2020
Group Financial Results for the six months ended 30 June 2020
•
•
.
Cost to income ratio¹ at 57%, broadly flat qoq
Total operating expenses of €81 mn for 2Q2020, down 3% qoq and
18% yoy
Staff costs reduced to €47 mn in 2Q2020 relating to mostly one-off cost
savings from special annual leaves to vulnerable groups and the
suspension of the NHS contribution during the COVID-19 lockdown
Operating expenses for 2Q2020 amounted to €34 mn, broadly flat qoq
Special levy and contributions to SRF and DGF for 2Q2020 reduced to
€6 mn, due to the seasonality of Deposit Guarantee Fund (DGF)
contribution
(1) Excluding Special Levy and contributions to SRF and DGF
(2) 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
30View entire presentation