Investor Presentaiton
€0.6 bn NPE sale agreed, reducing NPE ratio to 8.6%¹
Helix 3
NPES
•
Corporate Re-performing NPES
4
SMEs
Agreement for the sale of €568 mn² NPEs and €120 mn² REMU
properties
5%
1%
1%
Gross cash consideration of c.€385 mn
Completion expected in 1H2022
€568 mn
49% Retail Housing
44%
Accounting profit of c.€10 mn recorded in 3Q2021; +8 bps on
CET1
Retail other
Overall by completion, total positive impact of 67 bps on the
CET1 ratio and c.€21 mn on the Group's income statement
39% reduction of NPES
(€ bn)
1.45
-39%
Group Financial Results for the nine months ended 30 September 2021
REMU properties
Commercial
26%
Residential
42%
€120 mn
32%
Land
5 p.p. reduction in NPE ratio
10% reduction of REMU stock
Book value (€ bn)
Overall, by completion 67 bps capital accretive
CET1 ratio³
-5 p.p.
13.3%
0.88
Sep 21
Sep 21
pro forma
for Helix 3
1)
Pro forma for Helix 3
2)
With reference date 30 September 2021
3)
-10%
1.40
1.26
8.6%
Sep 21
Sep 21
pro forma
for Helix 3
Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
Bank of Cyprus Holdings
4)
5)
14.2%
14.7%
15.3%
Jun 21
Sep 21
Jun 21
Sep 215
Sep 21
pro forma
for Helix 3
In pipeline to exit NPEs subject to meet all exit criteria; the analysis is performed on a customer basis (formerly called Non-core NPEs)
CET1 (includes unaudited/un-reviewed profits for the nine months ended 30 September 2021)
5
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