Investor Presentaiton
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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.
Remaining reduction attributed to cash repayments, successful
restructurings reclassified as performing, write-offs and
settlement of debt via swaps of immovable property.
Gross loans breakdown, November 2022, in %
Non performing exposures, in EUR bn
28.4
30
27.3
24.2
25
20.9
20
15
10
5
0
Q4-2014
Q4-2015
Q4-2016
Q4-2017
10.4
9.1
Q4-2018
54
5.1
Q4-2019
Q4-2020
Q4-2021
Non performing exposures and provisions, in %
Source: Central Bank of Cyprus, Ministry of Finance
60%
Performing not restructured
(82.5%)
50%
40%
Performing & restructured
(7.0%)
30%
20%
10%
Non-performing & restructured
(5.0%)
0%
Non-performing not
restructured (5.5%)
Q4-2014
Q4-2015
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%
3.0
2.7
11m_2022View entire presentation