Bank of Cyprus Credit Ratings and Financial Position
1)
2)
NPE ratio decreased at 3.8%; limited NPE inflows
NPE organically reduced by 5% qoq
(€ mn)
1,343
-5%
411
389
551
129
107
Dec 21
Dec 22
Mar 23
Allowance for Expected Loan Credit Losses
Net NPES
NPE ratio reduced to 3.8%; 1.1% on a net basis
Residual NPEs comprises mainly Retail
NPE inflows remain under control
389
99
(€ mn)
197
(Єmn)
7
19
20
20
13
10
49
44
Mar 23
1Q2022 2Q2022 3Q2022 4Q2022 1Q2023
1
Re-performing NPEs
Retail
SMEs
Corporate
No signs of deterioration due to interest
rate rises
NPE coverage increased to 73%
151%
156%
12.4%
134%
128%
10.6% 9.3%
82%
83%
73%
69%
74%
4.0%
3.8%
Re-performing
NPES¹
46%
5.5%
4.7%
<5%
- 4.0%
1.3%
1.1%
Dec 21
Jun 22
Sep 22
Dec 22
Mar 23
Dec 23
Target
Gross NPE ratio
Net NPE ratio
59%
60%
69%
73%
Dec 21
Sep 22
Dec 22
Mar 23
2
Tangible collateral
Core NPES
82%
Mar 23
In pipeline to exit NPEs subject to meeting all exit criteria; the analysis is performed on a customer basis
Restricted to Gross IFRS balance
Allowance for expected loan credit losses
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