Key Financial Indicators and Balance Sheet Analysis Q1 2023
Risk profile
Strong credit quality indicators while a slight
trend towards higher rate of payments past due
observed
Despite increased provisioning through management's
forward looking macro-economic assumptions, risk
indicators of credit quality remain at healthy levels.
In Q1 2023, the problem loans ratio however increased
for the first time since before Covid-19. The increase is
primarily due to a single exposure which has been
deemed unlikely to pay. In Q1, a slight increase to
payments past due for consumer lending and SME
loans is observed, indicating that the credit cycle is past
an inflection point.
Loans with moratoria and forbearance measures which
are not in Stage 3 continue to decrease as the economy
recovers from the effects of Covid-19. At the end of Q1
2023, they were 2.0% of total loans to customers.
Total expected credit loss is expected to approach
between 20-25bps in the long term based on current
loan book composition. At the end of Q1 the expected
12 month credit loss ratio of 28bps reflects the current
challenging conditions.
Development of non-performing loans, moratoria and forbearance (% of total loan book)
1.8
2.7
4.1
3.2
4.3
3.2
2.9
2.3
2.0
0.03
2.6
2.8
1.9
1.4
1.4
1.2
1.4
31.12.20
30.06.21
31.12.21
30.06.22
30.09.22
31.12.22
31.03.2023
■Stage 3 Non-performing
Moratoria
Forbearance
12-month expected credit loss for performing loans to customers (on balance sheet) (bps)
80
70
60
50
40
30
20
10
0
31.12.20
30.06.21
31.12.21
Corporates
46 bps
28 bps
5 bps
30.06.22
31.12.22 31.03.2023
• Total
Individuals Mortgages
-
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