ESG Strategy and Digital Transformation
€0.6 bn NPE sale agreed in 4Q2021, reducing NPE ratio to 7.5%¹
REMU properties
NPES
Helix 3
Corporate Re-performing NPES 3
SMEs
Agreement for the sale of €568 mn NPEs and c.€120 mn REMU
properties as at 30 Sep 2021
5%
Commercial
1%
1%
26%
Gross cash consideration of c. €385 mn
Completion expected in 1H2022
€568 mn
49% Retail Housing
44%
Retail other
Accounting profit of c.€10 mn recorded in 3Q2021; +8 bps on
CET1 as at 30 Sep 2021
•
Overall by completion, total positive impact of 69 bps on the
CET1 ratio
32%
Land
Residential
42%
€120 mn
43% reduction of NPES
(€ bn)
5 p.p. reduction in NPE ratio
10% reduction of REMU stock
Book value (€ bn)
Overall, by completion c.70 bps capital accretive
CET1 ratio²
1.34
-43%
-5 p.p.
12.4%
0.77
Dec 21
Dec 21
pro forma for HFS
-10%
1.40
1.26
1.22
7.5%
14.7%
15.1%
15.8%
Dec 21
Dec 21
pro forma for HFS
Jun 21
Sep 21
Dec 21
Sep 21
Dec 214
Dec 21
pro forma
for HFS
4
7237
Pro forma for HFS
2)
3)
4)
Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
In pipeline to exit NPEs subject to meet all exit criteria; the analysis is performed on a customer basis
CET1 (includes unaudited/un-reviewed profits for the year ended 31 December 2021
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