FY2023 Investor Presentation Announcement

Bank of Cyprus Holdings PLC

28 March 2024

 

Announcement                                       

Investor Presentation of the Group Financial Results for the year ended 31 December 2023

Nicosia, 28 March 2024

Further to today's announcement by Bank of Cyprus Holdings Public Limited Company (the 'Company') of the financial results of the Bank of Cyprus Group for the year ended 31 December 2023 (the 'Results Announcement'), the Company confirms that it has uploaded an investor presentation (the 'Investor Presentation') to its website www.bankofcyprus.com  (Group/Investor Relations).

The Results Announcement published today includes an update regarding the FY2023 proposed cash dividend and share buyback (together, the 'Distribution'), following approval from the ECB in March 2024. The capital ratios and MREL ratio have been updated accordingly. Additionally, ROTE calculated based on tangible shareholders' equity after deducting for the proposed distribution was added in the Investor Presentation. The Distribution policy was updated to include cash dividends and buybacks. Other than disclosures related to FY2023 Distribution, there were no other meaningful divergences from the Preliminary Group Financial Results for the year ended 31 December 2023 published on 19 February 2024.

Important Notice Regarding Additional Information Contained in the Investor Presentation

The Investor Presentation includes additional financial information not presented within the Results Announcement, primarily relating to (i) NPE analysis (movements by segments and customer type), (ii) rescheduled loans analysis, (iii) details of historic restructuring activity including REMU activity, (iv) income statement by business line, (v) NIM and interest income analysis (vi) net interest income sensitivities, (vii) loan portfolio analysis in accordance with the three-stages model for impairment of IFRS 9, (viii) fixed income portfolio per issuer type and (ix) income statement of insurance and payment solutions business.

Except in relation to any non-IFRS measure, the financial information contained in the Investor Presentation has been prepared in accordance with the Group's significant accounting policies as described in the Group's Annual Financial Report 2023.

The Investor Presentation should be read in conjunction with the information contained in the Results Announcement and neither the financial information in the Results Announcement nor in the Investor Presentation constitutes statutory financial statements prepared in accordance with International Financial Reporting Standards.

For further information, please contact Investor Relations at [e-mail].

Group Profile

The Bank of Cyprus Group is the leading banking and financial services group in Cyprus, providing a wide range of financial products and services which include retail and commercial banking, finance, factoring, investment banking, brokerage, fund management, private banking, life and general insurance. At 31 December 2023, the Bank of Cyprus Group operated through a total of 64 branches in Cyprus, of which 4 operated as cash offices. The Bank of Cyprus Group employed 2,830 staff worldwide. At 31 December 2023, the Group's Total Assets amounted to €26.6 bn and Total Equity was €2.5 bn. The Bank of Cyprus Group comprises Bank of Cyprus Holdings Public Limited Company, its subsidiary Bank of Cyprus Public Company Limited and its subsidiaries.

 

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