Eurobank S.a. · ATHEX:EUROB
Eurobank — Eurobank Ergasias Services and Holdings — H1 2024 Earnings Presentation
78 slides from Eurobank's earnings presentation, Jul 31, 2024
Slide 1: 1H2024 results
4 EUROBANK Holdings 1H2024 results 31 July 2024
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: This presentation has been prepared by Eurobank Ergasias Services and Holdings S.A. (“Eurobank Holdings”) and its 100% subsidiary Eurobank S
Slide 3: Table of contents
Table of contents 1H24 results highlights 4 Regional Presence 12 Diversified business model 17 Balance sheet 20 Profitability 28 Asset Quality 36 Capital 41 Sustainability 44 Macroeconomic update 55 Appendix I – Supplementary information 65 Appendix II - Glossary 72 3
Slide 4: 1H24 results highlights
1H 2024 Results 1H24 results highlights
Slide 5: 1H24 results highlights: Profitability
1H24 results highlights: Profitability ❑ Adjusted Net Profit €732m in 1H24 P&L (€ m) 2Q24 1Q24 Δ(%) 1H24 1H23 Δ(%) ❑ 1H24 RoTBV1 at 18.5% Net interest income 560.9 571.1 (1.8) 1,132.0 1,042.6 8.6 Commission income 147.1 135.6 8.5 282.7 269.9 4.7 ❑ TBV per share up 18.4% y-o-y at €2.25 Other Income (
Slide 6: 1H24 results highlights: Balance sheet
1H24 results highlights: Balance sheet Capital & Dividends Key Balance sheet ratios ▪ €342m dividend distribution (9.3 cents / share), 30% of 2023 Net Profit ▪ CET1 FLB3 at 16.2%1,2 pro-forma, including: Group (%) 2Q24 1Q24 4Q23 3Q23 2Q23 ▪ Organic capital generation (c.+50bps) Capital7 ▪ Dividend d
Slide 7: Δ NII and Δ Fees (y-o-y)
1H23 1,043 Δ Loans 195 Δ NII (y-o-y, € m)1 Δ Deposits (137) Core Income Δ Bonds 77 Δ Central banks +8.6% 53 Δ MREL & Tier II (52) Δ Hedging (27) 1. Analysis based on gross income. 2. Including Repos and Money Market 2 Δ other (19) 1H24 1,132 1H23 270 Δ Lending (10) Δ Fees (y-o-y, € m) 13 Δ Network &
Slide 8: Profitability
Profitability Core PPI and Provisions (€ m) Core Operating Profit2 (€ m) 8144 705 +15.5% 958 +10.2% 869 Core PPI 1H23 1H24 Profit before Tax3 (€ m) Loan Loss (164) (144) Provisions 921 +29.4% 1H24 1H23 712 CoR1 81 69 1H23 1H24 (bps) 1. On net loans. 2. Core Operating profit= Core PPI minus loan loss
Slide 9: Capital & TBV
Capital & TBV CET1 FLB3 TBV per share (€) +18.4% Pro-forma for: +9.1% 16.3% 16.2%1 • Dividend distribution (-76bps) • HB consolidation (-80bps) 2.25 2.16 2.07 2Q23 2Q24 1.90 CAD 19.0% 19.3%1 Pro-forma for: • Dividend distribution (-76bps) • HB consolidation (-53bps) 2Q23 4Q23 2Q24 Pro-forma Dividend
Slide 10: 2024 financial goals
2024 financial goals FY24E update FY24E FY23 (June 2024) (March 2024) Core Operating Profit1 €1.47bn >€1.6bn >€1.5bn RoTBV2 18.1% c.16.5% c.15% TBV/S €2.07 c.€2.35 c.€2.30 CET13 17.0% >17% >17% NPE ratio 3.5% c.3.0% <3.5% 1. Core Operating profit= Core PPI minus loan loss provisions. 2. Adjusted net
Slide 11: Eurobank majority shareholder in Hellenic bank
Eurobank majority shareholder in Hellenic bank Eurobank stake in Hellenic Bank at 55.9% 1Q24 1Q24 Gross Loans Deposits ▪ Mandatory tender offer completed Other 5; ▪ Full consolidation as of 3Q24 20% ▪ Strong retail footprint in Cyprus with c.€20bn assets, 2.26k employees Households; €6.2 bn NFCs;4 H
Slide 12: Regional Presence
1H 2024 Results Regional Presence
Slide 13: Bulgaria key metrics (1/2)
Bulgaria key metrics1 (1/2) 1H24 Highlights Core PPI and provisions (€ m) Net profit2 €100m, down 1% y-o-y3 ▪ Core PPI at €141m, up 38.1% y-o-y 67 68 73 Core 65 55 PPI ▪ NII up 38.8% y-o-y at €195m ▪ 1H24 NIM at 3.85% ▪ Commission income up 8.1% y-o-y at €40m (14) (14) (15) (13) (12) Provisions ▪ Co
Slide 14: Bulgaria key metrics (2/2)
Bulgaria key metrics1 (2/2) Gross loans (€ bn) Key metrics 6.9 7.1 6.4 6.5 6.7 2Q24 1Q24 4Q23 3Q23 2Q23 Business 3.2 3.2 3.3 Assets (€ bn) 10.4 10.2 9.8 9.3 9.1 3.2 3.1 Mortgages Net loans (€ bn) 6.9 6.7 6.5 6.3 6.2 1.8 1.8 1.9 2.0 2.1 Capital & TBV 1.5 1.6 1.7 1.7 1.8 Consumer CET1 (%)2 19.8 19.1 1
Slide 15: Eurobank Cyprus key metrics (1/2)
Eurobank Cyprus key metrics1 (1/2) 1H24 Highlights Core PPI (€ m) Net profit €176m; up 95.9% y-o-y ▪ Core PPI up 14.6% y-o-y at €133m 69 71 67 63 66 ▪ NII up 11.7% y-o-y at €140m ▪ 1H24 NIM at 3.10% ▪ Commission income up 6.1% y-o-y at €20m ▪ Cost – to – core income at 17.0% 2Q23 3Q23 4Q23 1Q24 2Q24
Slide 16: Eurobank Cyprus key metrics (2/2)
Eurobank Cyprus key metrics1 (2/2) Gross loans (€ bn) Key metrics 2.7 2.8 2.7 2.8 2.6 0.2 0.2 Retail 2Q24 1Q24 4Q23 3Q23 2Q23 0.2 0.2 0.2 Assets (€ bn) 9.6 8.8 8.6 8.6 8.6 2.5 2.6 Net loans (€ bn) 2.7 2.7 2.7 2.6 2.5 2.4 2.5 2.5 Business Capital & TBV CET1 (%)2 36.0 34.7 34.1 34.0 32.1 2Q23 3Q23 4Q2
Slide 17: Diversified business model
1H 2024 Results Diversified business model
Slide 18: Segmental analysis: diversified earnings generation
Segmental analysis: diversified earnings generation Key Metrics (1H24) Net profit1 (€ m) Net 2023 Group (%) Assets RWAs TBV RoTBV2 RoTBV Profit1 € bn € bn €m €m 208 171 194 228 207 Greek Banking Greek banking 56.8 33.9 4,651 435 18.8% 17.1% operations Operations 2Q23 3Q23 4Q23 19 1Q24 2Q24 10 11 9 G
Slide 19: Eurobank Group Investment Real Estate Portfolio
Eurobank Group Investment Real Estate Portfolio Big boxes & 1H24 Office Mixed use Retail Logistics Special use Total supermarkets No. of assets (#) 60 25 81 32 22 26 246 Book Value (€ m) 442 200 162 340 88 74 1,306 % of total BV 34% 15% 12% 26% 7% 6% 100% BV / GLA (€ /sqm) 1,580 2,640 1,981 1,277 63
Slide 20: Balance sheet
1H 2024 Results Balance sheet
Slide 21: Balance sheet composition
Balance sheet composition Assets (€ bn) Liabilities and Equity (€bn) 81.3 81.3 60 50 Net loans 42.2 40 Deposits 58.6 30 Investment Securities 15.9 Loans & advances to banks 1.8 20 Wholesale funding 5.9 Cash & Central banks 10.7 Tier II 1.6 Other3 3.4 10 Investment property 1.3 Central banks 3.1 3.9
Slide 22: Securities portfolio
Securities portfolio Breakdown per issuer Breakdown per classification Trading & other; 3% FVOCI; 24% CLOs (AAA); Trading & other; 9% 3% € 15.9 bn Financial Institutions; Amortized Cost; 73% 13% Greek Corporate bonds; € 15.9 bn Government; 37% Amortized cost breakdown 10% Corporate bonds; Other CLOs
Slide 23: Loans
Loans Gross loans (€ bn) Performing loans (€ bn) Organic1 growth +€1.2bn in 1H24 42.2 42.8 42.7 43.5 42.3 SEE 41.5 41.6 42.2 40.1 40.4 9.8 10.0 10.3 10.4 10.7 SEE 10.0 10.2 10.5 9.5 9.7 Senior Notes 4.6 4.5 4.5 4.3 4.3 4.5 4.3 4.3 Senior Notes 4.6 4.5 Greece Business Greece Business 18.2 18.2 18.7 1
Slide 24: Deposits
Deposits Breakdown by region (€ bn) Time / Total 32% 34% 35% 36% 37% Group +2.8 30% 32% 32% 32% 33% Greece 57.4 57.3 58.7 55.9 56.5 2Q23 3Q23 4Q23 1Q24 2Q24 16.8 17.5 17.9 18.4 SEE 16.9 Breakdown by customer Greece 39.0 39.7 40.0 39.4 40.3 Individuals & SB; Corporate; 63% € 58.7 bn 37% 2Q23 3Q23 4Q2
Slide 25: Liquidity
Liquidity Net loans / Deposits ratio Net ECB position (€ bn) 5.2 7.5 7.1 7.7 7.6 72.6% 72.3% 72.5% 72.0% 72.0% 12.6 11.7 10.9 10.7 10.7 Cash (4.2) (3.8) (3.0) (3.1) Funding (7.4) 2Q23 3Q23 4Q23 1Q24 2Q24 1H23 9M23 FY23 1Q24 1H24 Liquidity coverage ratio (LCR) HQLAs1 Cash ; Level 2 Assets; 3% 1% 178.
Slide 26: MREL position
MREL position MREL (% RWAs) MREL buffer of 215 bps (€980m) 25.4 ▪ 2Q24 MREL ratio at 25.4%, pro-forma for the €100m tap issuance to 23.3 Senior preferred 6.7 the MREL-eligible senior preferred bond of €650m issued in April 4.2 liabilities3 CBR2 2024 19.1 18.7 Own Funds4 MREL target ▪ MREL capacity i
Slide 27: Wealth Management
Wealth Management Managed Funds (AuM, € bn) Private Banking (CAL1, € bn) +15% +32% 6.4 12.2 11.7 11.0 5.9 10.6 10.7 5.3 4.8 4.9 5.0 5.0 Greece 4.6 4.8 4.6 5.2 4.7 4.3 Cyprus 3.8 3.9 Own Mutual 3.5 3.8 Funds 2.9 3.0 3.2 3rd Party Mutual Luxembourg Funds 0.5 3.0 3.0 3.1 3.3 3.4 0.5 0.5 0.5 0.5 0.6 0.6
Slide 28: Profitability
1H 2024 Results Profitability
Slide 29: Performing Loan spreads & rates
Performing Loan spreads & rates Client rates (Greece, bps) Lending spreads (Greece, bps)1 2Q23 3Q23 4Q23 1Q24 2Q24 2Q23 3Q23 4Q23 1Q24 2Q24 Corporate 578 631 646 641 619 Corporate 244 237 233 228 212 3M avg Euribor 336 377 396 392 381 Retail 583 611 627 622 614 6M avg Euribor 366 397 403 389 378 Ret
Slide 30: Net Interest margin & deposit spreads
Net Interest margin & deposit spreads Net Interest margin (bps) Deposit spreads (Greece, bps) 2Q23 3Q23 4Q23 1Q24 2Q24 351 Savings & Sight 318 364 386 387 378 346 334 SEE 327 Time 143 149 146 135 123 318 Total 269 301 312 306 295 290 287 Group 284 1M avg Euribor 315 362 385 386 377 279 272 270 270 G
Slide 31: Net Interest Income
Net Interest Income NII breakdown (€ m)1 Δ NII (q-o-q, € m)1 1H24 NII up 8.6% y-o-y 1Q24 571 2Q23 3Q23 4Q23 1Q24 2Q24 Δ Loans (5) Loans 516 564 580 589 583 Bonds 126 132 151 157 159 Δ Bonds 2 Central banks 40 55 56 59 63 (1.8%) Money Market & 16 (9) (16) (17) (17) Δ Central banks 5 Repos MREL (34) (
Slide 32: Commission Income
Commission Income Commission income breakdown (€ m) Commission income per region (€ m) 73bps / 1H24 commission income up 4.8% y-o-y assets 147 147 141 141 141 141 133 136 133 136 33 SEE 30 33 39 31 33 44 31 40 33 Lending 79bps / 49 54 Network transactions 51 52 assets 48 & credit cards 111 114 Greec
Slide 33: Operating expenses
Operating expenses OpEx per region (€ m) OpEx breakdown (Greece, € m) Group OpEx stable y-o-y on a l-f-l basis1 322 (1.2%) 222 229 229 229 228 318 61 67 69 71 68 SEE 43 44 Depreciation 27 33 IT 161 162 160 158 160 Greece 70 69 Administrative 2Q23 3Q23 4Q23 1Q24 2Q24 157 174 Staff2 Cost –to- core inc
Slide 34: Pre-provision income (PPI)
Pre-provision income (PPI) Core PPI and other income (€ m) Δ Core PPI (q-o-q, € m) 31 12 55 48 (2) Other income 459 462 484 478 480 SEE 478 12 0 480 478 127 144 145 143 149 (10) (2) 332 318 339 335 331 Greece 2Q23 3Q23 4Q23 1Q24 2Q24 PPI per region (€ m) 540 526 Δ NII Δ opex 2Q24 Core PPI 1Q24 Core
Slide 35: Core Operating Profit
Core Operating Profit Δ Core PPI & Provisions (y-o-y, € m) Core Operating Profit per region (€ m) +10.1% +10.2% 89 13 958 407 407 394 Core PPI 869 (14 ) 370 372 127 137 130 SEE 112 128 Loan Loss (164) (144) Δ Fees Δ OPEX Δ NII Provisions 280 270 Greece 258 265 244 1H23 1H24 Core Operating 705 +15.5%
Slide 36: Asset Quality
1H 2024 Results Asset Quality
Slide 37: Asset quality metrics
Asset quality metrics NPEs formation1 (€ m) NPEs ratio (%) Δ NPEs stock 90 (145) (540) (212) 37 5.2% (q-o-q, €m) 4.9% Single 133 corporate 3.5% 3.0% 3.1% 59 66 13 27 SEE Greece 2Q23 3Q23 4Q23 1Q24 2Q24 3 (29) 2Q23 3Q23 4Q23 1Q24 2Q24 Loan loss provision (€ m) NPE coverage (%) 88 89 88 68 69 Cost of
Slide 38: NPEs formation per segment (Greece)
NPEs formation per segment (Greece) Mortgages (€ m) Consumer (€ m) 17 39 42 12 32 26 21 27 10 10 16 19 7 6 8 13 12 10 6 3 5 4 4 3 (5) (9) (2) (27) 3Q21 3Q22 3Q23 2Q22 4Q22 4Q21 2Q23 4Q23 2Q24 1Q21 2Q21 1Q22 1Q23 1Q24 3Q21 3Q22 3Q23 2Q21 4Q21 1Q21 2Q22 4Q22 1Q23 2Q23 4Q23 2Q24 1Q22 1Q24 Small Busines
Slide 39: NPE metrics (Group)
NPE metrics (Group) 90dpd bridge to NPEs (€ bn) NPEs per region Provisions & 1.3 NPE 0.2 Total NPEs NPE ratio collaterals / 0.4 coverage NPEs (€ m) (%) (%) (%) 0.7 Consumer 67 4.0 160.2 160 (1.2) Mortgages 265 3.6 125.0 216 0.1 Small Business 203 7.3 86.2 156 Corporate 545 2.6 66.3 140 2 90dpd NPF 0
Slide 40: Loans’ stage analysis (Group)
Loans’ stage analysis (Group) Loans’ stage breakdown Provisions stock over NPEs (€ bn) 2Q23 3Q23 4Q23 1Q24 2Q24 92.6% 93.2% Stage 1 34.9 35.2 36.3 36.5 37.3 86.4% 75.0% Stage 2 5.1 5.0 4.9 4.9 4.8 73.2% Stage 3 2.2 2.1 1.5 1.3 1.3 (NPEs) 1 Total 42.2 42.2 42.8 42.7 43.4 2Q23 3Q23 4Q23 1Q24 2Q24 Stag
Slide 41: Capital
1H 2024 Results & EUROBANK Holdings Capital
Slide 42: Capital ratios (CET1 FLB3, q-o-q)
Capital ratios (CET1 FLB3, q-o-q) 79bps 2bps 12bps 17.7% 17.2%2 (42bps) 16.2%5 (76bps) (80bps) 2024 OCR 12.2% 1 3 Asset Growth 1 1Q24 2Q24 organic securitization Other 2Q24 2Q24 Adj. Net Profit HB Distribution Dividend Synthetic RWAs 44,177 0 1,0514 (96)6 (424) 0 5,313 50,021 (€ m) Capital 7,598 348
Slide 43: Capital ratios (CAD, q-o-q)
Capital ratios (CAD, q-o-q) 79bps 20.6% 20.2%2 15bps 19.3%5 (49bps) (8bps) 3.0% (76bps) Tier II (53bps) Tier II 3.1% CET1 CET1 17.2% 2024 CAD OCR 16.2% 15.0% 1 3 Asset Growth 1 HB 2Q24 organic securitization Other 2Q24 2Q24 Adj. Net Profit 1Q24 Distribution Dividend Synthetic RWAs 44,177 0 1,0514 (9
Slide 44: Sustainability
H1 2024 Results Sustainability https://www.eurobankholdings.gr/en/esg-environment-society-governance
Slide 45: The Annual Report Business & Sustainability
The Annual Report Business & Sustainability Eurobank’s Annual Report 2023 Business & Sustainability, issued in July 2024, emphasizes a holistic approach to sustainable development pillars (economy, society, environment) with a focus on impact generation The Report outlines the Group Sustainability S
Slide 46: Sustainability Pillars – Key Milestones Achieved
Sustainability Pillars – Key Milestones Achieved Governance Model ➢ Enhancement of Governance Model introducing new roles and responsibilities ✓ Eurobank updated and enhanced its Sustainability Governance structure in relation to sustainability and climate related and environmental risks ✓ Eurobank
Slide 47: Eurobank joins UN-Convened Net-Zero Banking Alliance
Eurobank joins UN-Convened Net-Zero Banking Alliance In alignment with the NZBA's guidelines, Eurobank commits to a multifaceted approach to align its portfolios with the target of limiting global warming to a 1.5°C and support the transition to a net zero economy by 2050, by taking the following ke
Slide 48: Financed Impact Strategy – Enhanced Targets and Commitments
Financed Impact Strategy – Enhanced Targets and Commitments Portfolio Targets Sectoral Targets Other Targets Corporate Banking Renewable energy New exposure to high emitters ✓ Disbursements: o €2 bn in green disbursements by ✓ 35% of disbursements in the energy sector ✓ No new investments in fixed i
Slide 49: Financed Impact Strategy – 1H24 Key Highlights
Financed Impact Strategy – 1H24 Key Highlights Tangible Outcomes – Key Figures The Bank’s Financed Impact Strategy includes: On track Sustainable Financing: To meet the 20% target for annual corporate portfolio disbursements Develop strategies to promote client’s green transition classified as Green
Slide 50: Operational Impact strategy: Commitments & Targets
Operational Impact strategy: Commitments & Targets During the 2024 Strategy Review exercise, 120 milestones were planned for 2024 and interim targets were set. The following is a breakdown of targets per each of the 14 commitments / project streams: Commitments and targets Environmental impact Socie
Slide 51: Operational Impact Highlights: Environment
Operational Impact Highlights: Environment Energy Performance 01-05.2024 %var vs Target Actual 01-05.2023 2024 Electric Energy consumption (kWh) 12.48 mn -4.7% -5.0% • Verified operational carbon footprint as per ISO 14064, in line with National Climate Total Energy Intensity (kWh/employee) 1,872 -5
Slide 52: Operational Impact Highlights: Social
Operational Impact Highlights: Social • Setting Education a priority: The new platform mprostagiatinpaideia.gr connects students with the job market through training, networking, and counselling, with 820 users, 162 internships, 271 trained participants, and 70 career counselling sessions in its fir
Slide 53: Operational Impact Highlights: Training & Governance
Operational Impact Highlights: Training & Governance Training • A digital learning program on the Code of Conduct and Ethics was implemented | 95% of staff and external partners of Eurobank Holdings Group in Greece completed the learning program (mandatory completion) • The initially planned Anti-ha
Slide 54: Sustainability Ratings & Distinctions
Sustainability Ratings & Distinctions Sustainability Ratings • Moody’s - Eurobank’s ESG Overall Score showed a notable increase to 57 from 50, while the individual scores of Eurobank are well above the sector average scores • FTSE4Good: For yet another year, Eurobank was included in the Index with i
Slide 55: Macroeconomic update
1H 2024 Results Macroeconomic update
Slide 56: Greece Macro outlook
Greece Macro outlook ▪ Growth remained solid in 1Q24 (0.7% q-o-q / 2.1% y-o-y); The Government expects growth of 2.5% and 2.6% for 2024 and 2025 respectively1, over-performing the Euro Area ▪ Average HICP inflation at 3.0% in 1H24, from 5.1% in 1H23; 12-month average inflation expected to decelerate
Slide 57: Greece Real GDP growth at 2.0% vs 0.4% in the Euro Area in 2023
Greece Real GDP growth at 2.0% vs 0.4% in the Euro Area in 2023 Sources: ELSTAT, Eurostat, Eurobank Research 57
Slide 58: Domestic Labour Market
Domestic Labour Market The unemployment rate continues to decline, still the 2nd Employment remains on an upward trajectory highest in the Euro Area despite reported labor shortages contributing positively to households’ disposable income Long term unemployment decreases, yet it remains Recovery of
Slide 59: Selected indicators of domestic economic activity
Selected indicators of domestic economic activity ESI improves strongly in 1Q24; higher relative to the EA PMI manufacturing well above the boom-bust threshold for a 6th quarter in a row; higher relative to the EA Manufacturing production improves in recent months Retail trade volume index remains o
Slide 60: Real estate prices: growth continues
Real estate prices: growth continues Index of Apartment Prices Index of Retail and Office Prices 1Q11 – 1Q24 2H10 – 2H23 Source: BoG 60
Slide 61: Fiscal and current account balances
Fiscal and current account balances ▪ 2024 & 2025 GG primary surplus expected at 2.3% & 2.4% of GDP respectively (from 1.9% of GDP in 2023), according to the EC (Spring Forecasts 2024) ▪ Current account deficit expected at -5.7% and -5.3% of GDP in 2024 and 2025 (EC, Spring Forecasts 2024) respectiv
Slide 62: Sovereign debt profile
Sovereign debt profile General Government gross public debt (% of GDP, ESA terms) ▪ According to the EC 2024 Spring Forecasts, the Greek GG Gross Public Debt, from 161.9% of GDP in 2023, is expected at 153.9% and 149.3% of GDP in 2024 and 2025 respectively (vs 172.7% in 2022 and a peak of 207.0% in
Slide 63: Cyprus
Cyprus ▪ Strong GDP growth in 2023, continues in 1Q24: 3.4% y-o-y from 2.3% y-o-y in 4Q23, a six-quarter high, driven by household consumption, on the back of low unemployment (6.0%, a 15-year low for the 1Q period) and continuing disinflation (1.9% y-o-y, from 2.3% y-o-y in 4Q) ▪ European Commissio
Slide 64: Bulgaria
Bulgaria ▪ Real GDP Growth held firm at 1.9% in Q1 2024, from 1.8% in 2023, outperforming the EU average of 0.3% ▪ IMF (June 2024) forecasts 2024 growth at 2.7% with private consumption the key growth driver and RRF expected to boost investment ▪ The annual HICP averaged 3.1% in H1 2024, vs 8.6% in
Slide 65: Appendix I – Supplementary information
1H 2024 Results Appendix I – Supplementary information
Slide 66: Credit ratings
Credit ratings Greek Sovereign Credit Eurobank Long Term Eurobank Outlook Rating Ba1 Baa2 Stable BBB- BB+ Positive BBB- BB Positive BBB low BBB low Stable Note: Moody’s: Long term senior unsecured debt rating of Eurobank S.A. 66 S&P Global Ratings, Fitch Ratings, Morningstar DBRS: Long term issuer r
Slide 67: Summary performance
Summary performance Balance sheet – key figures Income statement – key figures €m 2Q24 1Q24 €m 2Q24 1Q24 Gross customer loans 43,425 42,701 Net interest income 560.9 571.1 Provisions (1,196) (1,156) Commission income 147.1 135.6 Loans FVTPL 10 10 Operating income 705.9 754.5 Net customer loans 42,24
Slide 68: Consolidated quarterly financials – Income statement
Consolidated quarterly financials – Income statement (€ m) 2Q24 1Q24 4Q23 3Q23 2Q23 Net Interest Income 560.9 571.1 572.8 558.4 540.1 Commission income 147.1 135.6 140.8 133.1 140.6 Other Income (2.1) 47.7 55.5 11.7 30.9 Operating Income 705.9 754.5 769.0 703.2 711.6 Operating Expenses (228.4) (228.
Slide 69: Consolidated quarterly financials – Balance sheet
Consolidated quarterly financials – Balance sheet (€ m) 2Q24 1Q24 4Q23 3Q23 2Q23 Consumer Loans 3,615 3,516 3,436 3,429 3,355 Mortgages 9,791 9,736 9,942 10,009 10,033 Household Loans 13,406 13,251 13,377 13,438 13,388 Small Business Loans 3,353 3,375 3,484 3,580 3,701 Corporate Loans 22,448 21,769
Slide 70: Consolidated financials
Consolidated financials Income Statement (€ m) 1H24 1H23 Δ y-o-y (%) Net Interest Income 1,132.0 1,042.6 8.6 Commission income 282.7 269.9 4.7 Other Income 45.6 18.7 >100 Operating Income 1,460.3 1,331.2 9.7 Operating Expenses (457.2) (443.3) 3.1 Pre-Provision Income 1,003.1 887.9 13.0 Loan Loss Pro
Slide 71: SEE operations key figures – 2Q24
SEE operations key figures – 2Q241 Bulgaria Cyprus Lux Sum Assets 10,380 9,590 2,861 22,831 Gross loans 7,137 2,795 833 10,765 Balance Sheet Net loans 6,940 2,737 833 10,510 (€m) NPE loans 184 67 0 251 Deposits 8,337 7,458 2,581 18,376 CAD2 21.6% 36.0% 23.1% Core Income 119.9 79.6 17.2 216.7 Operati
Slide 72: Appendix II – Glossary
1H 2024 Results Appendix II – Glossary
Slide 73: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios This document contains financial data and measures as published or derived from the published consolidated financial statements which have been prepared in accordance with International Fina
Slide 74: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Adjusted net profit: Net profit/loss from continuing operations excluding restructuring costs, goodwill impairment / gain on acquisition, gains/losses related to the transformation plan and
Slide 75: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Fees/Assets: Calculated as the ratio of annualized Commission income divided by the average balance of continued operations’ total assets (the arithmetic average of total assets, excluding a
Slide 76: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Non-performing exposures (NPEs): Non Performing Exposures (in compliance with EBA Guidelines) are the Group’s material exposures which are more than 90 days past-due or for which the debtor
Slide 77: Glossary – Definition of Alternative Performance Measures
Glossary – Definition of Alternative Performance Measures (APMs) & other selected financial measures / ratios Total Capital Adequacy ratio: Total regulatory capital as defined by Regulation (EU) No 575/2013 as in force, based on the transitional rules for the reported period, divided by total Risk W
Slide 78: Investor Relations contacts
Investor Relations contacts Dimitris Nikolos +30 214 4058 834 dnikolos@eurobankholdings.gr Yannis Chalaris +30 214 4058 832 ychalaris@eurobankholdings.gr Christos Stylios, CFA +30 214 4058 833 cstylios@eurobankholdings.gr Investor Relations Division +30 214 4058 834 investor_relations@eurobankholdin
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