Group Financial Results
Cost of risk' of 118 bps for FY2020, as expected
1.18%
Mainly impact of
1.12%
deterioration of macro-
1.00%
economic outlook in 1Q2020
0.43%
0.75%
FY2018
FY2019
FY2020
Group Financial Results for the year ended 31 December 2020
Base line
2020
GDP rate
-5.8%
Unemployment rate
7.1%
2021
4.0%
7.4%
2022
3.9%
6.3%
bps
200
76
97
99
•
200
152
88
30
107
110
Charge
(bps)
58
17
37
53
33
•
Cost of risk of 118 bps for FY2020 (€149 mn), of which
43 bps (€54 mn) reflect the impact of IFRS 9 Forward
Looking Information (FLI) driven by deterioration of
macroeconomic outlook recognised in FY2020
Cost of risk of 99 bps for 4Q2020 (€31 mn), of which 37
bps (€11 mn) COVID-19 related
43
40
58
51
14-
14:
16
.
Interest on net NPEs not received in cash, fully provided
(€13 mn in 4Q2020)
1Q2020
2Q2020
3Q2020
4Q2020
Reversal
-10
-11
(bps)
-76
1)
COVID-19
Interest on net NPEs not received in cash
New lending
Stage 3
Stage 1 & 2
Loan credit losses charge (cost of risk) (year to date) is calculated as the annualised 'loan credit losses' (as defined) divided by average gross loans. The average gross loans are calculated as the average of the opening balance and the closing balance for the reporting period/year.
Bank of Cyprus Holdings
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