Bank of Cyprus Credit Ratings and Financial Position
1)
2)
3)
MREL position
•
MREL ratio as % of RWAs¹ at 20.82%² as at 31 March 2023
MREL (% of RWAs)
4.021
•
MREL ratio as % of Leverage Ratio Exposure (LRE) of 10.01% as at 31 March
2023
+
20.82%²
3
Senior preferred liabilities
4.45%
•
Based on latest SRB communication:
.
final target is set at 24.35%¹ of RWAS
•
MREL as % of LRE target at 5.91%
to be met by 31 December 2025
•
interim requirement of 1 January 2022 set at 14.94% of RWAs and
5.91% of LRE must continue to be met
The Bank continues to evaluate opportunities to advance the build-up of its
MREL liabilities
Own funds
16.37%
CBR1
+
24.35%
31 March 2023
(as % of RWAs)
MREL requirement
(as % of RWAs)
as at 31 Dec 2025
The Combined Buffer Requirement (CBR) of 4.02% as at 31 March 2023 applies on top of MREL as %RWAs and will further increase on 30 November 2023 following increase in CcyB from 0.00% to 0.50% of the total risk
exposure amounts in Cyprus (as announced by Central Bank of Cyprus)
Includes unaudited/unreviewed profits for 1Q2023 and for compliance with CRR an accrual for an estimated final dividend at a payout ratio of 30% of the Group's adjusted recurring profitability in line with the Group's approved
dividend policy. Any recommendation for a dividend is subject to regulatory approval
MREL-eligible senior preferred bonds of €300 mn and other MREL eligible liabilities
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