Financial Analysis and Currency Deposits
Delivering on our priorities
Priorities set in 2020
What we have achieved since then...
Complete de-risking while managing post-pandemic NPE inflow
Deliver sustainable profitability
Enhance operating efficiency
81% NPE reduction (organic and inorganic); NPE ratio approaching 5% on track
with 2022 target
Medium-term ROTE target of c.7% achieved in 1H2022, two years ahead of
schedule; path to double digit ROTE in 2023
Completion of Voluntary Staff Exit Plans and 30% branch network reduction
Modernise BOC franchise, including IT and digital investment
26% increase in active digital users
Address challenges from low rates and surplus liquidity
Initiate MREL issuance and refinance Tier 2
Optimise capital management
1) Subject to regulatory approvals and market conditions
NII reverting to growth after bottomed out
Regained market access; inaugural MREL issuance and T2 refinancing
Stable capital after absorbing restructurings; positioned for resumption of
dividend payments¹
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