Financial Analysis and Currency Deposits
Leading card processing business in Cyprus
JCC
PAYMENT
SYSTEMS
€ mn
Net fee and commission
income
1H2022
1H2021
yoy%
12.2
9.7
26%
9%
contribution
to non
interest
income
9%
contribution
to the
Group's
PBT
85%
Market
share1
Other income
2.5
0.8
200%
FX and net losses on
(0.2)
0.8
revaluation of investment
•
Market leader in payment business in Cyprus
Total contribution Group's
14.5
11.3
27%
•
Entrusted business partner
Non-NII
•
Interest expense
(0.1)
(0.1)
6%
Strong market growth reflects transition away from cash transactions
Compulsory credit card payments in most businesses in Cyprus
Total operating costs
(8.1)
(7.1)
14%
PBT-contribution to the
6.3
4.1
52%
Group
JCC card transactions continue to increase
Value of transactions (€ mn)
1,200
•
Net fee and commission income up 26% yoy due to higher activity in
1H2022 (as 1H2021 was impacted by lockdown)
1,100
1,105
1,023
1,000
900
•
One-stop shop, providing various innovative solutions
800
859
757
792
•
Strong transaction volume growth (up 35% yoy) and merchant
onboarding (up 40% yoy)
700
600
500
•
Backed by BOC with 75% stake
400
Jan
Feb
Mar
Apr
May
Jun
Jul
2019
2020
2021
2022
1) As at 31 December 2021 based on market statistics
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