Investor Presentaiton
Group Financial Results for the year ended 31 December 2020
€1.4 bn NPE sales agreed since Dec 2019, reducing NPE ratio to 16%¹
•
Helix 2 Portfolio B
43% NPE reduction
9 p.p. reduction in NPE ratio
•
Agreement for the sale of €529 mn NPES (with reference date 30
Sep 2020) in Jan 2021
Gross consideration of 44% of gross book value (based on 30 Sep
2020) and 31% of contractual balance³, payable in cash, of which
50% is deferred unconditionally up to Dec 2025
NPES (€ bn)
-43%
3.1
•
Loss of €27 mn recorded in 4Q2020
1.8
NPE ratio
-9 p.p.
25%
16%
Helix 2 Portfolio A
Agreement for the sale of €886 mn NPES (with reference date 30
Jun 2020) in Aug 2020
Gross consideration of 46% of gross book value (based on 30 Jun
2020) and 29% of contractual balance³, payable in cash, of which
65% is deferred unconditionally to 3 broadly equal instalments over
48 months
Loss of €68 mn recorded in 2Q2020
Dec 2020
Dec 2020
pro forma
Dec 2020
for Helix 2¹
Dec 2020
pro forma
for Helix 21
CET1 ratio at 15.2% 2 pro forma for Helix 21
14.3%
14.8%
15.2%
15.8%
(1) Calculations on a pro forma basis assume legal completion of both Helix 2 Portfolio A and Helix 2 Portfolio B
(2) Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
(3) As at 30 September 2019
(4) Deferred Purchase Price
Bank of Cyprus Holdings
III
Jun 2020 Dec 2020 Dec 2020 Dec 2020
pro forma post DPP
for Helix 2¹ payment 4
Total CET1 impact +24 bps:
-76 bps already included in FY2020
+34 bps on completion
+66 bps upon full payment of deferred
consideration
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