ESG Strategy and Digital Transformation
4Q2021 - Highlights
Strong Recovery
Continues
•
6.0%¹ GDP in 4Q2021 well above the eurozone average of 4.6%
€1.8 bn
•
New Lending
New lending of €471 mn in 4Q2021 totalling €1.8 bn for FY2021, up 33% yoy, recovering towards
pre-pandemic levels
Positive Operating
Performance
€55 mn
Operating Profit
Total income of €154 mn for 4Q2021, up 11% qoq driven mainly by higher non-NII
• Profit after tax and before non-recurring items of €27 mn for 4Q2021
Small-scale targeted Voluntary Staff Exit Plan with one-off cost of €16 mn; gross annual savings
of c.3%
Operating Efficiency
Strong Capital and
Liquidity
57%
Cost/Income²
•
.
Profit after tax of €10 mn for 4Q2021
Total operating expenses² of €87 mn for 4Q2021, broadly flat qoq
Cost to income ratio² at 57% for 4Q2021, down 7 p.p. qoq supported by higher non-NII
15.8%
•
CET1 ratio of 15.8% 3,4 and Total Capital ratio of 20.8% 3,4
CET1 ratio 3,4
.
Deposits at €17.5 bn up 2% qoq; significant surplus liquidity of €6.4 bn
NPE ratio reduced to 7.5%4 (3.1%4 net)
•
Single Digit NPE ratio4
3.1%4
Net NPE ratio
€0.6 bn NPE sale (Helix 3) signed in November 2021
•
.
Organic NPE reduction of c.€400 mn in FY2021
96% of performing loans 5 under expired payment deferrals with an instalment due by 8 February
2022, presented no arrears
723
2)
Source: Cyprus Statistical service & Ministry of Finance announcement dated 15 February 2022
Excluding special levy on deposits and other levies/contributions
4)
Pro forma for HFS
3) Allowing for IFRS 9 and temporary treatment for certain FVOCI instruments transitional arrangements
5)
As at 31 December 2021
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