Bank Of Cyprus Holdings Plc · CSECY:BOCH
Bank Of Cyprus — 9M2025 Earnings Presentation
78 slides from Bank Of Cyprus's earnings presentation, Nov 11, 2025
Slide 1: Group Financial Results for the nine months ended 30 September 2025
Bank of Cyprus Group Group Financial Results For the nine months ended 30 September 2025
Slide 2: Disclaimer
DISCLAIMER The financial information included in this presentation is not audited by the Group’s external auditors. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements can usually be identified by term
Slide 3: Why Bank of Cyprus
Why Bank of Cyprus Strong, Supportive Macro Market Leader • Open economy growing faster than the Eurozone average • Leading player in a consolidated banking market • Fiscal discipline • #1 Life and #2 Non-Life Insurance in Cyprus • Sovereign rating; 3 notches above investment grade • #1 in domestic
Slide 4: Resilient and Growing Cypriot Economy
Resilient and Growing Cypriot Economy Strong economic growth continues, outpacing Euro area average Cyprus inflation remains under control at 1.1% for 9M2025 Real GDP (yoy % change) Cyprus HICP3 index (yoy% change) 9M2025: 1.1% 10.00% 8.4% 8.4% 5.4% Expected at 0.7%1 for 8.00% Expected at 3.2%1 for
Slide 5: Cypriot Economy Outperforming European Average; Fiscal Surplus Since 2022
Cypriot Economy Outperforming European Average; Fiscal Surplus Since 2022 Low public debt to GDP, below Euro area average Rebound in public finances from 2022 onwards As at 30 June 2025 Budget surplus as % of GDP 151% Surplus of 3.4%1 138% Expected to 4.3% 4.0% expected for 2025 decrease to c.57%1 4
Slide 6: 3Q2025 Strong Performance Maintained Across Key Metrics
3Q2025- Strong Performance Maintained Across Key Metrics Profit after tax remains solid at €118 mn Slow NII reduction qoq as hedging and volume growth mitigate lower rates 5.00% (€ mn) (€ mn) 4.00% 3.7% 3.3% 2.8% 3.00% 3.4% 2.3% 2.8% 2.1% 2.00% 2.5% 131 2.0% 117 118 118 204 198 2.1% 107 1.00% 186 18
Slide 7: Shareholder Value Creation
Shareholder Value Creation ROTE on 15% 28.2% 25.9% 26.1% 25.9% 23.2% CET1 30.00% ratio 25.00% 40.0% 20.0% 20.00% 0.0% 15.00% -20.0% 10.00% 21.6% -40.0% 5.00% 18.3% 18.2% 18.5% -60.0% Maintaining strong ROTE of 0.00% 17.1% -80.0% 18.5% despite rate reductions ROTE reported 3Q2024 4Q2024 1Q2025 2Q2025
Slide 8: 2025 ROTE Upgraded to High-Teens; 70% Distribution Payout Target Reaffirmed
2025 ROTE Upgraded to High-Teens; 70% Distribution Payout Target Reaffirmed 9M2025 FY2025 Targets Upgrade ROTE (reported) High-teens 18.4% (Mid-teens previously) ROTE on 15% CET1 ratio >20% 25.9% (High-teens previously) Distribution (payout) c.40% interim dividend paid in 70% Reaffirmed October 2025
Slide 9: 2025 Distribution Target at 70% Payout and Interim Dividend Paid
2025 Distribution Target at 70% Payout and Interim Dividend Paid 2025 Distribution target at top end of payout range Building a strong track record of attractive shareholder Payout ratio 70% returns 50% 30% ✓ 2025 Distribution target of 70% payout ratio1,2 14% 40% Interim dividend ✓ at the top end o
Slide 10: 9M2025 Highlights
9M2025-Highlights • Strong Cypriot economy growing faster than Euro area average Economic growth • Strong new lending of €2.2 bn in 9M2025, up 31% yoy, driven mainly by international and corporate demand continues • Gross performing loans at €10.71 bn, up 6% since December 2024 • Profit after tax fl
Slide 11: Income Statement
Income Statement € mn 9M2025 9M2024 yoy% 3Q2025 2Q2025 qoq% Net Interest Income 548 624 -12% 180 182 -1% Non-interest income 219 204 7% 78 72 7% Total income 767 828 -7% 258 254 1% Total operating expenses (272) (266) 3% (91) (94) -3% Special levies on deposits and other levies/ (29) (26) 10% (13) (
Slide 12: Highly Liquid and Simple Balance Sheet
Highly Liquid and Simple Balance Sheet (€ bn) Total assets Total liabilities & equity 27.86 27.86 26.48 1.95 26.48 1.74 Other assets 1.92 0.42 Other 1.47 REMU repossessed 2.85 0.66 • 22% linked with Bank’s base rate1 (‘natural properties Equity (incl AT1) 2.83 hedging’ of time & notice deposits cost
Slide 13: Resilient NII on the Back of Hedging and Volume Growth
Resilient NII on the Back of Hedging and Volume Growth NII remained strong at €180 mn; NIM at 286 bps Healthy volume growth increasing AIEA Effective yield on assets & cost of funding by 2% qoq Performing loans Cost of deposits 1 NIM1(bps) 400 313 +2% 2 298 286 (€ bn) Liquid assets Cost of wholesale
Slide 14: Continued Hedging Actions Further Reducing NII Sensitivity
Continued Hedging Actions Further Reducing NII Sensitivity NII sensitivity to parallel shift in interest rates (annualised)4 Hedging (€ bn) Dec 24 Jun 25 Sep 25 -100 bps Dec 22 Dec 24 Sep 25 Receive fixed IRSs1 2.91 3.89 4.14 EUR -€126 mn -€83 mn -€68 mn on non-maturing deposits Average fixed rate U
Slide 15: Deposits up 7% yoy; Improved Deposit Pricing and Mix
Deposits up 7% yoy; Improved Deposit Pricing and Mix Deposits at €21.5 bn up 3% qoq; share of term deposits at 31% Cost of deposits on a downward trend, at 0.27%1 in 3Q2025 € bn +7% yoy +3% qoq 27 Cost of deposits 31 35 38 34 35 29 20.5 20.7 20.9 21.5 (bps) 20.0 6.7 33% 6.8 33% 6.3 30% 6.7 31% 6.6 3
Slide 16: Strong New Lending of €2.2 bn in 9M2025; Loan Book up 6% since Dec 2024
Strong New Lending of €2.2 bn in 9M2025; Loan Book up 6% since Dec 2024 New lending at €635 mn in 3Q2025 +31% Loan book1 up 6% since December 2024 2,237 +6% Ytd% € mn € bn 455 10.60 10.71 10.10 1,708 1.11 1.19 +23% 0.96 202 241 1.07 1.09 842 1.04 727 760 237 139 391 635 +3% 88 188 3.54 3.60 3.64 194
Slide 17: Fixed Income Portfolio up 21% yoy; Representing 18% of Total Assets
Fixed Income Portfolio up 21% yoy; Representing 18% of Total Assets Fixed income securities per category - NBV Fixed income securities per issuer type - NBV to increase to: % assets 16% 16% 17% 18% • c.18% in 2025 already achieved • c.20% in the medium-term1,2 (€ mn) +21% 4,911 4,911 4,650 21 4,650
Slide 18: Non-NII Covering 70-80% of Total Operating Expenses
Non-NII Covering 70-80% of Total Operating Expenses Non-NII/ 76% 65%2 79% 77% 77%2 QoQ Performance (3Q2025 vs 2Q2025) OPEX1 +7% (€ mn) • Non-NII up 7% qoq reflecting a one-off insurance reimbursement (€8 mn); 75 78 68 69 72 3 excluding this one-off, non-NII down 4% qoq due to: 1 3 1 4 8 14 8 8 8 6 •
Slide 19: Life and Non-Life Insurance Business Contribution to the Group
Life and Non- Life Insurance Business - Valuable and Sustainable Contribution to the Group Contribution to the Group Figures exclude Ethniki Insurance Net insurance result Recurring Insurance PAT1 Market share2 17% contribution in Non-NII (€ mn) (€ mn) 28.9% c.31% 22.4 19.9 20.0 27.3% 21.4 19% Highl
Slide 20: Leveraging Digital Offerings to Enhance Sales and Customer Experience
Leveraging Digital Offerings to Enhance Group’s Sales and Customer Experience… Increased use across all digital channels Strong results from digital sales, both in banking and insurance As at 30 September 2025 Digital Loans1 +25% (€ mn) 182 136 146 6 499k 469k 176 Sep 24 Dec 24 Sep 25 Digital housin
Slide 21: Continuously Investing in Digital Initiatives Engaging Clients
…While Continuously Investing in Digital Initiatives Engaging Clients Digital Housing Loans • Available in 1Q2025 • Available for kids/teens (aged 9-17) to spend/save • Digital application with instant decision money under their parents' watchful eye • Enhanced offering by introducing savings & goal
Slide 22: Cost to Income Ratio Remains Low at 35% in 9M2025
Cost to Income Ratio Remains Low at 35% in 9M2025 Total operating expenses1 up 3% yoy and down 3% qoq +3% 300 1.0 (€ mn) 266 272 • Staff costs up 5% yoy mainly due to salary increments & cost-of-living 38% 0.9 35% 34% 37% 35% 250 adjustments (COLA) 0.8 120 1.0 101 115 116 0.7 99 94 200 • Other opera
Slide 23: Cost of Risk at 35 bps in 9M2025
Cost of Risk at 35 bps in 9M2025 Cost of risk Bank’s IFRS 9 macroeconomic assumptions 0.35% Base line GDP rate Unemployment rate 0.30% 0.29% 2025 3.0% 4.5% 2026 2.5% 4.5% FY2024 9M2024 9M2025 • Cost of risk at 33 bps (€9 mn) in 3Q2025, broadly flat qoq, reflecting the continued strong underlying per
Slide 24: Capital & Asset Quality
Executive Summary – Updated Financial Target Capital & Asset Quality Appendix 24
Slide 25: Robust Capital Position; CET1 at 20.5%
Robust Capital Position; CET1 at 20.5% Regulatory capital ratios 25.8% • Regulatory CET1 ratio at 20.2% 24.8% 25.2% 23.3% 23.7% 24.0% 22.4% 22.0% • Including 3Q2025 profits net of distribution accrual at the top end of 20.4% 20.6% 20.2% 19.2% 19.7% distribution policy (i.e. 70% payout ratio), CET1 r
Slide 26: Healthy Asset Quality with an NPE ratio at 1.2%
Healthy Asset Quality with an NPE ratio at 1.2% NPEs1,4 down 29% qoq to €134 mn; fully covered NPE ratio4 further reduced to 1.2% NPE 82% 96% 124% coverage 3% (€ mn) 202 Agreement for the 2.4% 189 sale of €35 mn 3% 2.0% NPEs in 3Q2025 2% 1.8% 74 55 134 17 2% 1.2% 18 40 7 18 14 1% 17 103 99 1% 63 0%
Slide 27: REMU Stock Reduced to €419 mn; 2025 Target Already Achieved
REMU Stock Reduced to €419 mn; 2025 Target Already Achieved REMU stock reduced to €419 mn in September 2025 Organic sales1 consistently close to Open Market Value; comfortably above Book Value BV to 80% 76% 72% 71% 72% 71% OMV2.0 114% 114% 110% 109% 1.5 104% 105% 1.08 97% -€241 mn 87% 87% 1.0 0.86 8
Slide 28: Our Priorities Going Forward
Our Priorities Going Forward Leveraging BOCH’s strengths • Leading financial Hub • Diversified business model • Strong domestic franchise • Strong digital infrastructure • Holistic offering • Long lasting relationships Capital and Shareholder Returns Growth Initiatives • Provide attractive return to
Slide 29: BOC Rated at Investment Grade by all Credit Rating Agencies
BOC Rated at Investment Grade by all 3 Credit Rating Agencies Moody’s upgraded rating to A3 in May 2025; outlook stable S&P upgraded rating to BBB- in February 2025; outlook stable A3 8 A3 A- 8 A- Baa1 A3 BBB+ 7 Baa2 BBB 7 Baa3 Investment grade Baa3 BBB- Investment grade BBB- Ba16 BB+ 6 Ba2 BB Ba35
Slide 30: Key Information and Contact Details
Key Information and Contact Details Contacts Investor Relations & ESG Executive Director Finance Tel: +357 22 122239, Email: investors@bankofcyprus.com Eliza Livadiotou, Tel: +35722 122128, Email: eliza.livadiotou@bankofcyprus.com Annita Pavlou Manager Strategy, Investor Relations & ESG Tel: +357 22
Slide 31: ESG Update
Executive Summary – Updated Financial Targets ESG update https://www.bankofcyprus.com/globalassets/group/investor-relations/annual-reports/english/20250327-boch- group-afr-2024_final.pdf Appendix 31
Slide 32: Key milestones achieved by 9M2025
Key milestones achieved by 9M2025 • c.€448 mn Green Housing gross loans with EPC Category A as of September 2025, compared to c.€321 mn as of December 2024 E • Environmentally Friendly gross loans of c.€486 mn as of September 2025 compared to c.€354 mn as of December 2024 • Utilisation of renewable
Slide 33: ESG Journey
ESG Journey The ESG strategy formulated in 2021 is continuously expanding. The Group is maintaining its leading role in the Social and Governance pillars and focuses on increasing the Group’s positive impacts on the Environment, by transforming not only its own operations, but also the operations of
Slide 34: Delivering on our ESG Commitments
Delivering on our ESG Commitments Stakeholder ESG Priorities in 2025 SDG • Set additional decarbonisation targets on loan and investment portfolios based on methodologies and data available • Enhance ESG disclosures to ensure transparency against the ESG performance by publishing the second Corporat
Slide 35: Delivering on our ESG Commitments
Delivering on our ESG Commitments Climate Change – Target 1: Reducing Scope 1 & Scope 2 GHG emissions Bank’s performance against baseline of 2021²: by 42% by 2030 compared to 2021 baseline • c. 12% yoy decrease in Scope 1 and Scope 2 GHG emissions in 9M2025 (42%) (11%) (25%) (25%) GHG Emissions – Sc
Slide 36: Delivering on our ESG Commitments
Delivering on our ESG Commitments Climate Change: Increase portfolio of environmentally friendly loans Climate Change: Increase utilisation of renewable energy in Gross loans (€ mn) own operations 31% 40% 38% 365,436 277,935 486 448 Renewable energy (kWh) 354 321 2 9M2024 9M2025 • c.31% yoy increase
Slide 37: Delivering on our ESG Commitments
Delivering on our ESG Commitments Learning & Development: Provide upskilling/reskilling employee Gender Diversity: At least 30% women in ExCo and Senior Management by opportunities 2030 Training Attendance (hours) 33% 38% ≥ 30% 32,952 29% 30,800 Women 19,696 19,556 Men 9M2023 9M2024 9M2025 2030 Ta
Slide 38: Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) IDEA1 Innovation Center SupportCy Network: Maintain leadership and continue playing an The IDEA Innovation Center (since incorporation) active and positive role in the community 95 100 975 1,080 1,300 New companies created (#) Invested amount (€ mn) 4.25 4.5 9M2
Slide 39: Macroeconomic overview
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Macroeconomic overview 39
Slide 40: Cyprus is a Growing Business and Tech Hub in the Region
Cyprus is a Growing Business and Tech Hub in the Region Well educated, highly skilled labour force Labour costs significantly below the average Euro area Level of education (€ ‘000) 56 Tertiary 46% 43 #3 country in Europe on 35 33 number of university 30 Compensation per employee 1 26 graduates per
Slide 41: Additional financial information
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Additional financial information 41
Slide 42: Robust Liquidity Position; Significant Surplus Liquidity of €8.5 bn
Robust Liquidity Position; Significant Surplus Liquidity of €8.5 bn Diversified, mainly retail funded deposit base Highly liquid balance sheet Group deposits Liquid assets • Sticky deposit base sits • 54% insured deposits epo d 6% • 61% Retail h 3% 9% held in c a s 19% 54% sured • Average size of Re
Slide 43: Analysis of Deposits
Analysis of Deposits Deposits by Type (€ bn) Deposits by Customer Sector (€ bn) Deposits by Currency (€ bn) Type Sep 24 Dec 24 Jun 25 Sep 25 Sector Sep 24 Dec 24 Jun 25 Sep 25 Currency Sep 24 Dec 24 Jun 25 Sep 25 Retail 12.32 12.61 12.98 13.14 EUR 18.22 18.56 19.13 19.66 Current, 13.37 13.83 14.57 1
Slide 44: Income Statement
Income Statement € mn 9M2025 9M2024 yoy% 3Q2025 2Q2025 qoq% Net Interest Income 548 624 -12% 180 182 -1% Net fee and commission income 133 131 2% 45 44 2% Net foreign exchange gains and net gains on financial instruments 26 27 -6% 8 9 -4% Net insurance result 36 35 4% 12 12 -6% Net gains/(losses) fr
Slide 45: Consolidated Balance Sheet
Consolidated Balance Sheet % % Assets (€ mn) 30.09.2025 31.12.2024 change Liability and Equity (€ mn) 30.09.2025 31.12.2024 change Cash and balances with central banks 7,513 7,601 -1% Deposits by banks 454 364 25% Loans and advances to banks 913 821 11% Customer deposits 21,455 20,519 5% Reverse rep
Slide 46: ROTE on 15% CET1 Ratio
ROTE on 15% CET1 Ratio TBV adjusted for excess CET1 capital on a 15% CET1 ratio ROTE on 15% CET1 € mn Sep 25 Jun 25 Dec 24 € mn Sep 25 Jun 25 Dec 24 Shareholders’ equity 2,605 2,574 2,590 PAT annualised 472 473 508 Average TBV - Intangible assets (51) (47) (50) adjusted for excess 1,824 1,820 1,839
Slide 47: Capital Position; Quarterly Evolution
Capital Position; Quarterly Evolution min OCR1 requirement for September 2025 25.4% 20.6% 20.5% 4.9% 20.2% 1.2% (0.9%) (0.1%) (0.1%) (0.2%) 16.08% 11.38% 6 CET1 Other RWA Ethniki Insurance Regulatory 3 3Q2025 profits Distribution CET1 incl. AT1 & T2 Capital Ratio incl. Jun 25 2 CET1 Sep 2025 accrual
Slide 48: Risk Weighted Assets – Regulatory Capital
Risk Weighted Assets– Regulatory Capital Risk Weighted Assets by Geography Reconciliation of Group Equity to CET1 30.09.25 € mn 31.12.23 31.12.24 30.06.25 30.09.25 € mn 30.09.25 Inc. retained earnings Cyprus 10,297 10,810 10,261 10,403 Shareholder’s equity 2,605 2,605 Overseas 44 24 39 36 Less: Inta
Slide 49: Overall Capital Requirements
Overall Capital Requirements CET1 ratio Total capital ratio 16.50% 16.05% 16.08% c.1.50% c.11.91% CCyB c.0.92% c.0.89% 11.34% 11.38% O-SII c.1.88% c.1.94% 2.00% c.1.50% CCyB c.0.92% c.0.89% 2.00% CCB 2.50% 2.50% 2.50% O-SII c.1.88% c.1.94% Pillar 2R 2.75% 2.75% 2.50% CCB 2.50% 2.50% 2.50% Tier 2 2.0
Slide 50: Buffer to MDA Restrictions Level & Distributable Items
Buffer to MDA Restrictions Level & Distributable Items CET1 Ratios 887 bps 909 bps 20.2% 20.5% • Significant CET1 MDA buffer as at 30 September 2025: 887 bps2 (€926 mn2) • Including retained earnings for the period ended 30 September 11.4% 11.4% 2025, significant CET1 MDA buffer as at 30 September 2
Slide 51: Significant Buffer Above the MREL Requirement
Significant Buffer Above the MREL Requirement • MREL ratio including capital used to meet the CBR1 ( as % of RWAs) at 35.0%2 MREL (% of RWAs) as at 30 September 2025; 35.2%3 including retained earnings • MREL ratio (as % of Leverage Ratio Exposure (LRE)) at 13.3%2 as at 30 35.0% 35.2% September 2025
Slide 52: Income Statement Bridge for 9M2025
Income Statement Bridge1 for 9M2025 Underlying Statutory € mn Other basis Basis Net interest income 548 - 548 Net fee and commission income 133 - 133 Net foreign exchange gains and net gains on financial instruments 26 (1) 25 Net losses on derecognition of financial assets measured at amortised cost
Slide 53: Business Plan Forward Curves
Business Plan Forward Curves Average quarterly ECB Deposit rate Average 6m Euribor rate 2025: 2.3% 2026: 1.8% 2025: 2.2% 2026: 2.0% 3.9% 3.5% 3.3% 3.4% 3.0% 2.8% 2.8% 2.9% 2.5% 2.3% 2.5% 2.0% 2.0% 2.0% 2.4% 2.2% 2.0% 2.1% 2.1% 2.1% 2.0% 1.8% 1.8% 1.8% 2.1% 2.0% 2.0% 2.1% 1.9% 1.8% 1.8% 2.1% 1.5% 1.8
Slide 54: Analysis of Interest Income and Interest Expense
Analysis of Interest Income and Interest Expense Analysis of Interest Income (€ mn) 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 9M2024 9M2025 Loans and advances to customers 138 139 139 132 124 121 119 416 364 Loans and advances to banks and central banks 92 73 69 64 57 46 42 234 145 Repurchase
Slide 55: Income Statement by Business line for 9M2025
Income Statement by Business line for 9M2025 IBU & Consumer SME Corporate € mn International RRD REMU Insurance Treasury JCC Other Total Banking Banking Banking corporate Net interest income/(expense) 259 39 100 95 7 (7) 1 63 - (9) 548 Net fee & commission income/(expense) 50 8 15 36 2 - (7) 3 22 4
Slide 56: Statutory Income Statement for Insurance Businesses for 9M2025
Statutory Income Statement for Insurance Businesses for 9M2025 € mn 9M2025 9M2024 yoy% € mn 9M2025 9M2024 yoy% Insurance revenue 62.7 59.3 6% Insurance revenue 55.1 51.2 8% Insurance service expense (39.6) (33.9) 17% Insurance service expense (27.7) (27.1) 2% Net insurance service result 23.1 25.4 -
Slide 57: Leading Card Processing and Payment Solutions Business in Cyprus
Leading Card Processing and Payment Solutions Business in Cyprus Strong transaction growth in value; up 13% yoy 12% 21% 80% Value of transactions (€ mn) +13% Market Contribution ROE share1 13,115 to non-NII 11,580 10,201 8,540 • Net fee and commission income up 3% yoy, driven by higher volume of 9M2
Slide 58: JINIUS; Leader in Shaping the Digital Local Economy
JINIUS; Leader in Shaping the Digital Local Economy Business-to-Business (B2B) Business-to-Consumer (B2C) Going forward… • Electronic Invoicing • First service launched in April 2024 • Embed banking services & • Remittance management • Product Marketplace (14 product insurance products in Jinius (i.
Slide 59: Additional Asset Quality Slides
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Additional Asset Quality Slides 59
Slide 60: Well Diversified Loan Portfolio With High Quality Collateral
Well Diversified Loan Portfolio With High Quality Collateral Gross performing book1,2 by business sector of €10.71 bn € bn Housing Other Private 4.03 0.76 4.79 Individuals Hotels & 1.20 Catering Real Estate 0.92 Private individuals Private individuals Business LTV3 Housing Other €5.92 bn €4.03 bn €0
Slide 61: Loans by Economic Activity, Customer Type and Arrears Analysis
Loans1 by Economic Activity, Customer Type and Arrears Analysis Gross loans (€ mn) Dec 242 Jun 25 Sep 253 Gross loans by customer type Dec 242 Jun 25 Sep 253 (€ mn) Trade 904 909 903 Retail Housing Manufacturing 317 460 461 3,607 3,662 3,678 Hotels & Catering 1,153 1,216 1,202 Retail other 1,075 1,1
Slide 62: Gross Loans by IFRS 9 Stage
Gross Loans by IFRS 9 Stage Gross loans1 by IFRS 9 stage Stage 2 Ratio and Coverage Stage 3 Ratio and Coverage 10,741 10,801 189 134 1% 10,261 Stage 3 202 782 771 7% Stage 2 802 Coverage 5.0% 5.4% 6.3% 56% 61% 65% 7.8% 2.0% 9,257 9,770 9,896 7.3% 7.1% 1.8% 92% Stage 1 1.2% Stage 2 as % of gross loan
Slide 63: Stage 2 Exposures at 7% of Loan Book
Stage 21 Exposures at 7% of Loan Book; 96% of Exposures Present no Arrears € mn 771 3.7% Hotel & catering 28 Limited migration rate1 of Stage 2 to Stage 3 at 2.7% 4.8% 49 Trade Of which: 65 • €291 mn (38%) Performing Forborne 8.5% Real estate • €146 mn (19%) Individual assessments 6.8% Construction
Slide 64: Rescheduled Loans
Rescheduled Loans Rescheduled loans1 by customer type Fair value of collateral and credit enhancements € bn Dec 24 Jun 25 Sep 25 Sep 25 Loans and advances to customers (€ mn) Retail housing 0.09 0.07 0.05 Cash 600 Retail other 0.02 0.02 0.02 Securities 505 SMEs 0.03 0.03 0.02 Letters of credit / gua
Slide 65: REMU - the Engine for Dealing with Foreclosed Assets
REMU - the Engine for Dealing with Foreclosed Assets €2.43 bn sales1 of 5,224 properties across all property classes since set-up €250 mn sales1 in 9M2025; comfortably above Book Value Sales € mn (contract prices1) Net Proceeds / BV 106% 109% 126% 106% # 99 331 575 579 492 1,130 674 569 486 289 Gros
Slide 66: REMU - the Engine for Dealing with Foreclosed Assets
REMU - the Engine for Dealing with Foreclosed Assets Repossessed properties sold exceed properties acquired since 2019 REMU repossessed stock by type Group BV (€ mn) 30 September 2025 23 43 Land 522 1,488 Golf (1,319) 69 Commercial & Manufacturing 419 251 Residential (18) 33 Overseas (254) 419 Jan 1
Slide 67: Footnotes
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Footnotes 67
Slide 68: Footnotes
Footnotes 1) In accordance with Ministry of Finance October 2025 Slide 4 - Resilient and Growing Cypriot 2) In accordance with Spring 2025 Economic Forecast of European Commission Economy 3) Harmonised Index of Consumer Prices 1) In accordance with Ministry of Finance October 2025 Slide 5 - Cypriot
Slide 69: Footnotes
Footnotes 1) Excluding special levy on deposits and other levies/contributions 2) Net of non-recurring items Slide 18 - Non-NII Covering 70-80% of Total 3) Net FX gains/(losses) & Net gains/(losses) on financial instruments and other income Operating Expenses 4) Relates to insurance reimbursement an
Slide 70: Footnotes
Footnotes Slide 40 - Cyprus is a Growing Business and 1) Data for population as at 31 December 2024. Data for compensation refer to FY2024 Tech Hub in the Region 2) Data for labour force is as at 31 March 2025 (Labour force age 15-64) 1) Calculation assuming that the cost of deposit remains unchange
Slide 71: Footnotes
Footnotes 1) Gross loans as at 30 September 2025 of Corporate (incl. IB and International corporate), SME and Retail 2) The definition of gross loans and allowance for expected loan credit losses were updated with respect to the fair value adjustment on initial recognition. Comparative figures were
Slide 72: Glossary & Definitions
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Glossary & Definitions 72
Slide 73: Glossary & Definitions
Glossary & Definitions AC Amortised cost bonds. Adjusted recurring profitability The Group’s profit after tax before non-recurring items (attributable to the owners of the Company) taking into account distributions under other equity instruments such as the annual AT1 coupon. Advisory and other tran
Slide 74: Glossary & Definitions
Glossary & Definitions DTA Deferred tax asset. DTC Deferred Tax Credit. EBA European Banking Authority. ECB European Central Bank. Effective yield Interest Income on Loans/Average Net Loans. Effective yield of liquid assets Interest income on liquids after hedging, over average liquids (Cash and bal
Slide 75: Glossary & Definitions
Glossary & Definitions Legacy exposures Legacy exposures are exposures relating to (i) Restructuring and Recoveries Division (RRD), (ii) Real Estate Management Unit (REMU), and (iii) non-core overseas exposures. Leverage Ratio Exposure (LRE) Leverage Ratio Exposure (LRE) is defined in accordance wit
Slide 76: Glossary & Definitions
Glossary & Definitions Non-interest income comprises Net fee and commission income, Net foreign exchange gains and net gains/(losses) on financial instruments and (excluding net gains on loans and advances to Non-interest income customers at FVPL), Net insurance result, Net (losses)/ gains from reva
Slide 77: Glossary & Definitions
Glossary & Definitions Non-legacy (performing) Relates to all business lines excluding Restructuring and Recoveries Division (“RRD”), REMU and non-core overseas exposures. The NSFR is calculated as the amount of “available stable funding” (ASF) relative to the amount of “required stable funding” (RS
Slide 78: Glossary & Definitions
Glossary & Definitions Return on Tangible equity (ROTE) Calculated as Profit/(loss) after tax (attributable to the owners of the Company) (annualised - (based on year - to - date days), divided by the quarterly average of Shareholders’ equity minus on 15% CET1 ratio intangible assets and after deduc