Investor Presentaiton
Group Financial Results for the year ended 31 December 2020
Balance sheet de-risking results in a smaller but safer loan book
Net Loans: Non-legacy2 vs Legacy
Interest Income on Loans: Non-legacy2 vs Legacy
€ mn
€ bn
15.62
14.55
36%
5.64
12.04
4.40
10.73
10.38
10.36
9.88
3.39
1.79
1.45
1.36
0.88
9%
98
96
93
91
89
23
23
82
24
18
17
18
11
64%
9.98
10.15
8.65
8.94
8.93
9.00
9.00
91%
75
55
72
22
75
75
74
71
71
Dec 16
Dec 17
Dec 18
Dec 19
Sep 20
Dec 20
Dec 20
Legacy
Non-legacy
pro forma
4Q2019
Legacy
1Q2020
Non-legacy
2Q2020
3Q2020
restated 3
4Q2020
4Q2020
pro forma
for Helix 21
for Helix 21
Lower but higher quality income resulting from balance sheet de-risking
Interest income of non-legacy book decreased by €3 mn qoq as challenging interest rate outlook continues
•
Interest income of legacy book increased by €1 mn qoq due to increased cash collections not previously recognized
•
Interest on Net NPEs not received in cash, fully provided
°
Lending rates remain under pressure due to the sustained low interest rate environment
1)
Calculations on a pro forma basis assume legal completion of both Helix 2 Portfolio A and Helix 2 Portfolio B
2)
Gross loans as at 31 December 2020 of Corporate (incl. IB and W&M and Global Corporate), SME, Retail, and H/O
3)
Interest income of non-legacy book for 3Q2020 increased from €73 mn to €74 mn since previously disclosed on 27 November 2020, following a transfer of €1 mn from liquids to non-legacy interest income
Bank of Cyprus Holdings
57View entire presentation