Sustainable Bond Framework
•
Continuous reduction in NPES
In 2018 sharp reduction by 50% in NPES due to NPES sale by Bank
of Cyprus ("Helix", €2.7bn NPEs) and Cooperative Bank carve-out
(€6.9bn NPE).
In 2020 and 2021, Bank of Cyprus and Hellenic Bank reached
further agreements for NPE portfolio sales. By the end of
November 2022 NPEs dropped to €2.7 bn (10.5% of gross loans)
and accumulated provisions stood at 52% of NPEs. Banks continue
deleverage efforts and further sales of NPE portfolio are expected
to drop further the NPES in the future.
Non performing exposures, in EUR bn
28.4
30
27.3
24.2
20.9
3225
20
15
10
10
5
0
write-offs and
Remaining reduction attributed to cash repayments, successful
restructurings reclassified
as
settlement of debt via swaps of immovable property.
Q4-2014
Q4-2015
Q4-2016
Q4-2017
10.4
9.1
5.1
3.0
2.7
Q4-2018
Q4-2019
Q4-2020
Q4-2021
11m_2022
performing,
Gross loans breakdown, November 2022, in %
60%
Performing not restructured
(82.5%)
50%
40%
Performing & restructured
(7.0%)
30%
20%
10%
Non-performing & restructured
(5.0%)
0%
Source: Central Bank of Cyprus, Ministry of Finance
Non-performing not
restructured (5.5%)
Q4-2014
Q4-2015
Non performing exposures and provisions, in %
Q4-2016
NPEs to Gross loans %
Q4-2017
Q4-2018
Q4-2019
Q4-2020
Provisions to NPES %
20
20
Q4-2021
11m_2022
10.5%
52%View entire presentation