Bank Of Cyprus Holdings Plc · CSECY:BOCH
Bank Of Cyprus — FY2025 Earnings Presentation
101 slides from Bank Of Cyprus's earnings presentation, Mar 31, 2026
Slide 1: Bank of Cyprus Group Financial Results
Bank of Cyprus Group GROUP FINANCIAL RESULTS For the year ended 31 December 2025
Slide 2: Disclaimer
Disclaimer The financial information included in this presentation is not audited by the Group’s external “should”, “target”, “will” or similar expressions or variations thereof or their negative auditors. variations, but their absence does not mean that a statement is not forward looking. Forward-l
Slide 3: Contents
01 Executive summary 02 FY2025 financial performance 03 Contents Strategic priorities and financial targets 04 ESG update 05 Appendix 3
Slide 4: Executive summary
01 Executive summary
Slide 5: Why Bank of Cyprus
Why Bank of Cyprus Supportive Macro Leading Position in Banking and • Positive outlook with c.3% p.a. economic Broader Financial Services growth • #1-2 positions across banking, insurance • Cyprus is a business and tech hub in the and payment solutions in Cyprus region • Operating in a highly liquid
Slide 6: Cypriot economy continues to outpace the Eurozone
Cypriot economy continues to outpace the Eurozone Strong economic growth continues to track above Eurozone level Cyprus inflation remains well-managed Real GDP (yoy % change) Cyprus HICP3 index (yoy% change) 9.2% FY24: 3.9% FY25: 3.8% 8.4% 5.3% Expected at 5.4% Expected at 4.1% 3.7% 3.6% 4.5% 3.1%1
Slide 7: Low unemployment and robust sovereign rating
Low unemployment and robust sovereign rating Low unemployment rate Rebound in public finances from 2022 onwards Unemployment rate Budget surplus as % of GDP 8.2% 8.0% 7.8% 2.1% 2.6% 1.7% 7.6% 1.0% 4.3% Surplus Expected at 3.2% 8.4% 6.8% 6.6% 4.6%1 for 2026 of 3.0%1 6.4% 6.4% 7.6% (vs 6.2%3 for expec
Slide 8: FY2025 highlights
FY2025 highlights PAT €481 mn • Record new lending of €3.0 bn, up 23% yoy STRONG ROTE VOLUME GROWTH • Gross performing loans at €10.9 bn, up 8% yoy • Mainly retail deposit base at €22.2 bn, up 8% yoy 18.6% • Profit after tax of €4811 mn; €1281 mn in 4Q2025 Gross performing loans ATTRACTIVE PROFITABI
Slide 9: 2025 distribution at 70% payout, at top end of distribution policy
2025 distribution at 70% payout, at top end of distribution policy 70% • Dividend yield of 9%1 2025 Distribution at top end of payout range Payout ratio 70% • 70% payout ratio based on adjusted recurring 50% profitability of €434 mn 30% Payout ratio 14% 2022 2023 2024 2025 €305 mn • c.25% increase i
Slide 10: Increasing and sustainable shareholder value creation
Increasing and sustainable shareholder value creation Strong ROTE over the past 3 years €705 mn cumulative distributions since Well-capitalised with strong organic on a growing equity base 2022; TBV continues to grow capital generation p.a. Organic PAT Distribution capital 487 508 481 (€ mn) 22 137
Slide 11: FY2025 targets achieved
FY2025 targets achieved 2025 targets FY2025 (Nov 2025) ROTE reported High-teens 18.6% ROTE at 15% CET1 ratio >20% 26.4% 70% Distribution (payout1) 70% (Policy 50-70%) Net interest income c.€720 mn 731 mn Average ECB depo rate 2.3% 2.3% Cost to income ratio2 <40% 37% Cost of risk <40 bps 33 bps CET1
Slide 12: FY2025 financial performance
02 FY2025 financial performance
Slide 13: 4Q2025 snapshot
4Q2025 snapshot PAT at €128 mn including one-off items recognised in 4Q2025 NII at €183 mn (€ mn) (€ mn) 2.8% 2.3% 2.0% 128 Average ECB 2.0% 117 118 118 Deposit rate 186 182 180 183 1Q2025 2Q2025 3Q2025 4Q2025 1Q2025 2Q2025 3Q2025 4Q2025 Cost to income ratio1 at 42%; VEP2 impact recognised in 4Q2025
Slide 14: Income statement
Income statement € mn FY2025 FY2024 yoy% 4Q2025 3Q2025 qoq% Net interest income 731 822 -11% 183 180 2% 4Q2025 PAT of €128 mn, including one off items Non-interest income 309 272 14% 90 78 16% recognised during the quarter Total income 1,040 1,094 273 258 6% -5% NII at €183 mn boosted by seasonal gr
Slide 15: Highly liquid, customer funded and growing balance sheet
Highly liquid, customer funded and growing balance sheet Total assets AIEA1 FY2025 Total liabilities & equity (€ bn) (€ bn) 28.6 Cash balances 28.6 2.0 with Central banks 1.7 26.5 26.5 0.4 Other assets 1.9 31% Other 1.5 2.9 REMU repossessed 0.7 Net loans properties 42% Equity (incl AT1) 2.8 1.4 €24.
Slide 16: 2025 NII of €731 mn, demonstrating resilience on lower rates
2025 NII of €731 mn, demonstrating resilience on lower rates FY2025 NII down 11% yoy on NII up 2% qoq on volumes growth and hedging Healthy volume growth increases AIEA2 by 3% qoq lower interest rates, partially activity (€ bn) mitigated by; NIM1 353 313 • volumes growth 298 286 (bps) 294 283 +3% •
Slide 17: Continued hedging actions further reducing NII sensitivity
Continued hedging actions further reducing NII sensitivity Hedging €3.1 bn hedging in FY2025, totaling €12.1 (€ bn) bn; covering 47% of interest earning Dec 24 Sep 25 Dec 25 assets (vs 37% at 31 Dec 2024) Receive fixed IRSs1 on non-maturing 2.91 4.14 5.04 deposits Average fixed Receive fixed IRSs1 o
Slide 18: Deposits up 8% yoy; deposit pricing maintained low
Deposits up 8% yoy; deposit pricing maintained low Deposits at €22.2 bn up 3% qoq Cost of deposits remains low (€ bn) (bps) Positive deposit trends in +8% both volumes and pricing Cost of 35 29 27 27 21.5 22.2 deposits1 20.5 33% 6.7 31% 6.7 30% 6.8 100 88 80 79 Well managed deposit costs, flat qoq 1
Slide 19: Record new lending of €3.0 bn in FY2025
Record new lending of €3.0 bn in FY2025 New lending at €3.0 bn in FY2025, up 23% yoy New lending at €762 mn in 4Q2025 (€ mn) (€ mn) New lending growth across all business lines, driven +5% mainly by corporate and +23% 842 international demand 2,999 760 762 727 139 707 International 88 188 635 Intern
Slide 20: Gross performing loans up 8% yoy
Gross performing loans up 8% yoy; growth continues across all business lines Gross performing loans at Gross performing loans1 Effective yield on performing loans €10.9 bn; 88% domestic (€ bn) (bps) and 12% international +8% 510 484 10.71 10.87 458 10.10 440 434 Domestic book growing in 0.96 1.19 1.
Slide 21: Growing fixed income portfolio, representing 18% of total assets
Growing fixed income portfolio, representing 18% of total assets Fixed income portfolio at Fixed income securities– NBV Fixed income securities per issuer type - NBV €5.1 bn up 22% yoy (€ mn) Other financial & other corporations Average yield of new Cyprus Government 7% investments in 4Q2025: % 22%
Slide 22: Non-NII covering 70-80% of total operating expenses
Non-NII covering 70-80% of total operating expenses Non-NII at €309 mn in 2025 Non-NII at €309 mn in 2025; recurring Non-NII (€ mn) at €250 mn, up 4% yoy 74%1 76%1 79% 77% 77%1 73%1 +14% +16% Net fee & commission income up 2% yoy on 309 272 15 90 higher non-transactional fees 44 78 7 32 69 72 8 14 9
Slide 23: 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 18% Net insurance result2 (€ mn) Recurring insurance PAT3 (€ mn) contribution in Non-NII 31.5 32.8 28.3 28.0 c.33%4 c.280%5 Highly profitable; Market Solvency share (#1) ratio 9% contr
Slide 24: 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 As at 31 December 2025 504K 475k 249k 232k active users of digital active mobile app users active QuickPay users record unique customer channels logins per day (in FY2025) Strong
Slide 25: Continuing to invest in digital initiatives engaging clients
…while continuously investing in digital initiatives engaging clients Digital Housing Loans • Digital application with instant decision • Banking for minors (age 9-17) • Electronic upload of documents with real time • Enhanced youth offering; savings & goals, updates transfers and referrals with inc
Slide 26: Cost to income ratio remains low at 37% in FY2025
Cost to income ratio remains low at 37% in FY2025 Total operating expenses up 5% yoy Total operating expenses1 reflecting VEP cost of €19 mn in 2025 (€ mn) +5% 367 386 Excluding VEP cost, total operating 21 36 114 expenses up 3% yoy 101 87 94 91 23 7 2 8 3 Exit costs & 182 189 +4% variable pay 45 48
Slide 27: Healthy asset quality; NPE ratio at 1.2% & REMU stock <€0.4 bn
Healthy asset quality; NPE ratio at 1.2% & REMU stock <€0.4 bn NPE ratio at 1.2%; robust asset quality Cost of risk maintained below 40 bps maintained 0.33% 0.39% 0.30% 0.32% 0.33% Cost of risk at 33 bps (€35 mn) in 2025 0.26% as the strong underlying performance of loan book continues REMU stock at
Slide 28: Robust capital position; CET1 at 21.0%
Robust capital position; CET1 at 21.0% Regulatory capital ratios CET1 ratio at 21.0%, net of proposed distribution at the top end of 25.9% distribution policy (i.e. 70%) 24.0% 22.4% 20.4% 21.0% Organic capital generation of 436 bps4 in FY2025, of which 110 bps4 19.2% in 4Q2025 17.4% 15.2% Proposed f
Slide 29: BOC is investment grade rated by all credit rating agencies
BOC is investment grade rated by all 3 credit rating agencies Moody’s affirmed rating to A3 S&P affirmed rating to BBB- Fitch upgraded rating to BBB in December 2025; outlook positive in December 2025; outlook positive in November 2025; outlook stable A3 A3 A- A- A- A- Baa1 BBB+ BBB+ Baa2 A3 BBB BBB
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: Strategic priorities and financial targets
03 Strategic priorities and financial targets Click here to find the Investor Update presentation
Slide 32: Continuation of our strategy, upscaling our ambitions
Continuation of our strategy, upscaling our ambitions STRATEGIC Sustainable Attractive and sustainable PRIORITIES and resilient profitability shareholder returns SUPPORTED BY Strong macro Strong franchise Leading technology International contribution 32
Slide 33: Our financial targets
Our financial targets 2025 2026 2027 - 2028 ROTE 18.6% Mid-teens Mid-teens ROTE ON 15% CET1 RATIO 26.4% >20% >20% DISTRIBUTIONS PAYOUT1 Ordinary 70% 70% 70% p.a. Top-up Up to 20%2 Up to 30%2 p.a. ORGANIC 436 bps 350-400 bps p.a. CAPITALGENERATION3 c.40% At lower end of Supported by: Cost to income n
Slide 34: Responding to the external environment
Responding to the external environment Ready to adapt - our opportunities: • Protect domestic position Small domestic market • Expand international lending Domestic growth in line with economy • Expand non traditional banking services Increasing domestic competition • Strong customer engagement Mark
Slide 35: Net interest income stabilising in 2026, reverting to growth from 2027
Net interest income stabilising in 2026, reverting to growth from 2027 Absorbed the bulk of interest rate reductions by 4Q2025 NII demonstrated resilience on lower rates, supported by volumes and hedging NII stabilisation into 2026 Overall, c.3% CAGR NII growth by 2028 Average ECB 2.8% 2.3% 2.0% 2.0
Slide 36: Optimise management of interest earning assets to support margins
Optimise management of interest earning assets to support margins Changing asset mix to support margins Interest earning assets 26.1 Gradual change in the composition of interest (€ bn) 22.5 earning assets from liquid assets to loans and 10.2 fixed income portfolio to represent c.70% by 10.0 2028 5.
Slide 37: Loan growth supported by domestic demand
Loan growth supported by domestic demand… Domestic loan book to grow by low-mid single Domestic loan growth with a CAGR of c.3% digit, in line with the economy (Gross performing loans € mn) • GDP expected to grow by c.2.5% • Maintain leading market share with pricing CAGR discipline despite competit
Slide 38: Selective expansion of international loan portfolio
… And selective expansion of international loan portfolio Expansion of international loan book International loan book expected to % of total loan portfolio (€ bn) build-up to c.€2.0 bn by end-2028 10% 12% c.16% • Strict underwriting standards c.2.0 International Corporate 1.4 c.0.2 p.a. 1.0 0.4 • E
Slide 39: Strong deposit base and well-managed cost of deposits
Strong deposit base and well-managed cost of deposits Strong deposit base to remain to approximately 2025 levels % yoy growth 2% 6% 8% Sticky deposit base, mainly retail-funded 22.2 20.5 (€ bn) 19.0 19.3 30% Time & 33% Seasonal deposit growth in 4Q2025, up 3% on 29% 32% Notice prior quarter Current
Slide 40: Focused on growing high quality, recurring non-NII
Focused on growing high quality, recurring non-NII Non-NII is a significant source of Group’s revenue (€ mn) Capital-light, sustainable and diversified 2024 240 32 272 recurring non- NII Net fee and commission income growth 2025 250 44 15 309 supported by: Recurring non-NII Other non-NII Non-recurri
Slide 41: Net insurance income to grow by high single digit
Net insurance income to grow by high single digit Growth in the business from both life and non-life Net insurance result1 (€ mn) Initiatives to support growth via: CAGR High single digit Strengthen further bancassurance model to 54 49 continue to capitalise on existing BOC clientele Enhance further
Slide 42: Maintain efficiency focus whilst continuing IT investments
Maintain efficiency focus whilst continuing IT investments Incremental investment in IT IT investment to support strategic initiatives Maintain a lean operating model (including AI) to achieve: Cumulative OPEX in a normalised rate environment • Automations and centralisations (€ mn) C/I ratio1 • Mod
Slide 43: Asset quality to remain robust at broadly current state
Asset quality to remain robust at broadly current state NPE ratio plateaued; sustaining at broadly Normalised cost of risk reiterated at 40-50 current state bps Preserve NPE ratio at broadly current levels throughout the 3-year horizon NPE coverage 82% 139% (bps) 12.4% 57 Normalised cost of risk rei
Slide 44: Clear priorities for disciplined capital deployment
Clear priorities for disciplined capital deployment Sustainable profitability enables: Attractive ordinary Investment Organic growth distributions c.15% in the business (70% payout) CET1 Ratio Target High capital ratios provide optionality for: (Medium-term) Additional Disciplined shareholder return
Slide 45: Roadmap to 2028 continues to deliver significant excess capital
Roadmap to 2028 continues to deliver significant excess capital Beyond 2028 • Focus on organic growth +c.3% RWA • Strategic optionality for growth CAGR disciplined bolt-on M&A 21.0% • Continued excess distributions + c.350 -400 bps p.a. c.15% CET1 ratio Organic capital Organic growth- AT1 coupon Dis
Slide 46: Our distribution ambitions
Our distribution ambitions 2025 2026 2027 - 2028 ORDINARY 50-70% payout ratio policy 70% 70% 70% DISTRIBUTIONS reiterated1 Up to 20% Up to 30% TOP-UP DIVIDENDS To be assessed annually when CET1 ratio sustainably >15% Attractive shareholders’ returns €305 mn TOTAL DISTRIBUTIONS of which €218 mn Up to
Slide 47: Committed to deliver attractive shareholder returns
Committed to deliver attractive shareholder returns Attractive shareholder’s Payout ratio returns expected to Distribution 2% 9% 12% 9% continue beyond 2028 Up to Yield 100%1 p.a. Up to Ordinary and top-up 90%1 Distributions distributions to be made (€ mn) 305 mainly in cash format; 70% 241 87 buyba
Slide 48: Optionality with potential selective bolt-on M&A
Optionality with potential selective bolt-on M&A Criteria for bolt-on M&A Strategic rationale • Accelerate organic delivery Acquisition of Ethniki Insurance Cyprus (July 2025) • Selective acquisitions targeting further diversification of the Group’s business model and income composition including: c
Slide 49: Acquisition of Performing Loan and Deposit portfolio of CDB Bank
Acquisition of Performing Loan and Deposit portfolio of CDB Bank Agreement on the financial and legal terms for the acquisition of the performing loans and deposits portfolio of The Cyprus Development Bank Public Company Limited (‘CDB Bank’) Transaction Perimeter Strategic rationale • c.€150 mn1 Per
Slide 50: Business plan assumptions
Business plan assumptions Market forward curves1 Solid GDP growth at c.2.5%for 2026-2028 3.7% 3.7% 3.9% 3.6% 3.8% 2.4% 2.6% 3.3% 3.5% 2.3% 2.2% 2.6% 2.4% 2.2% 0.7% 2.2% 2.1% 2.4% 2.0% 0.1% 2022 2023 2024 2025 2026e 2027e 2028e ECB depo rate 6M Euribor 2023 2024 2025 2026e 2027e 2028e Unemployment ra
Slide 51: We will deliver sustainable shareholder value
We will deliver sustainable shareholder value Remain highly profitable with mid- Strong organic capital generation1 Upscale our distribution ambitions teens ROTE expected to continue ROTE on 15% 27.6% Organic capital generation 26.4% >20% CET1 ratio (bps) Up to 100%2 p.a. 2 Up to 90% 21.4% 445 436 1
Slide 52: ESG update
04 ESG update Click here to find out more in our Annual Report
Slide 53: Key milestones achieved by FY2025
Key milestones achieved by FY2025 • c.€452 mn Green Housing gross loans with EPC Category A as of December 2025, compared to c.€321 mn as of December 2024 • Environmentally Friendly gross loans of €572 mn as of December 2025 compared to c.€354 mn as of E December 2024 • Utilisation of renewable ener
Slide 54: ESG journey
ESG journey 2022 2023 2024 2025 • Set ESG targets across the bank’s • Set first decarbonisation target on • Issued first Green Bond in Cyprus • Issued first CSRD report value chain Mortgage portfolio (IEA <2°C)¹ • Published the Impact and allocation • Established KPIs and KRIs for both • Joined Part
Slide 55: Delivering on our ESG commitments
Sustainable Development Goals: Delivering on our ESG commitments Stakeholder: Investors Regulatory Customers & Markets • Publish the second PRB Self-Assessment • Publish the second Sustainability Statement for FY2025 • Continue enhancement of & Progress Report (CSRD report) environmentally friendly
Slide 56: Delivering on our ESG commitments
Delivering on our ESG commitments Climate Change – Target 1: GHG Emissions¹ – Scope 1 & Scope 2 (tCO2e) Bank’s performance against baseline of 2021: Reduce Scope 1 & Scope 2 GHG emissions by 42% by 2030 -3%³ compared to 2021 baseline (27%) (42%) (11%) (25%) (25%) 8,424 -3% 8,159 Base Scope 2 Purchas
Slide 57: Delivering on our ESG commitments
Delivering on our ESG commitments Climate Change: Climate Change: Climate Change: Increase portfolio of environmentally Increase utilisation of renewable energy Reduce paper consumption² friendly loans in own operations Gross loans (€ mn) Renewable energy (kWh) 572 3 24% -32% 12 51 354 105 45 2 38 3
Slide 58: Delivering on our ESG commitments
Delivering on our ESG commitments Learning & Development¹: Gender Diversity: Provide upskilling/reskilling employee opportunities At least 30% women in ExCo and Senior Management by 2030 Training Attendance (hours) Women Men 38% 33% ≥ 30% 30,524 33% 29,963 FY2023 FY2024 FY2025 2030 Target 45,668 50,
Slide 59: Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) BOC Oncology Centre¹: BOC Cultural Foundation: Wellbeing program “Well at Work”: Bank of Cyprus Cultural Foundation activities Contribute and support cancer patients and their families through the Bank of Cyprus Oncology Centre. 35,154 24,500 2 34,509 32 ~2,140
Slide 60: Appendix
05 Appendix
Slide 61: Appendix: Macroeconomic overview
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Macroeconomic overview
Slide 62: 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 Cyprus as an attractive business hub… Level of education • Cyprus is the eastern gateway to the European Union and a safe, stable and business friendly hub for the region Tertiary 46% #3 country in Eur
Slide 63: Appendix: Additional financial information
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Additional financial information
Slide 64: Robust liquidity position; significant surplus liquidity of €9.2 bn
Robust liquidity position; significant surplus liquidity of €9.2 bn Diversified, mainly retail funded deposit base Highly liquid balance sheet Group deposits Liquid assets ts posi e 6% SMEs 11% Cash balances with Central Banks 2% d 19% ed Retail Placements with Banks n cash 53% insur €22.2 bn Corpor
Slide 65: Analysis of deposits
Analysis of deposits Deposits by Type Deposits by Customer Sector Deposits by Currency (€ bn) (€ bn) (€ bn) Sector Dec 24 Sep 25 Dec 25 Type Dec 24 Sep 25 Dec 25 Currency Dec 24 Sep 25 Dec 25 Retail 12.61 13.14 13.50 Current, Demand 13.83 14.75 15.44 EUR 18.56 19.66 20.25 & Savings SME 1.16 1.33 1.4
Slide 66: Income statement
Income statement € mn FY2025 FY2024 yoy% 4Q2025 3Q2025 qoq% In July 2025, the Group Net Interest Income 731 822 -11% 183 180 2% received notification that Net fee and commission income 180 177 2% 47 45 2% the Management Net foreign exchange gains and net gains on financial instruments 43 36 19% 17 8
Slide 67: Consolidated balance sheet
Consolidated balance sheet Assets (€ mn) 31.12.2025 31.12.2024 % change Liability and equity (€ mn) 31.12.2025 31.12.2024 % change Cash and balances with central banks 7,933 7,601 4% Deposits by banks 404 364 11% Customer deposits 22,187 20,519 8% Loans and advances to banks 576 821 -30% Debt securi
Slide 68: 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 Dec 24 Sep 25 Dec 25 € mn Dec 24 Sep 25 Dec 25 Shareholders’ equity 2,590 2,605 2,710 PAT annualised 508 472 481 Average TBV adjusted for excess - Intangible assets (50) (51) (52) 1,839 1,824 1,823
Slide 69: Capital position; quarterly evolution
Capital position; quarterly evolution min OCR1 requirement January 2026 25.9% 21.0% 4.9% 20.2% 20.5% 1.2% (0.6%) (0.1%) 1.1% (0.9%) 16.75% 12.16% Regulatory 3Q2025 profits Distribution CET1 incl. 4Q2025 profits Proposed AT1 Coupon CET1 ratio AT1 & T2 Total Capital Ratio 3,4 CET1 Sep 25 accrual Retai
Slide 70: Risk weighted assets – regulatory capital
Risk weighted assets– regulatory capital Risk weighted assets by geography Reconciliation of group equity to CET1 € mn 31.12.23 31.12.24 30.09.25 31.12.25 € mn 31.12.25 Cyprus 10,297 10,810 10,403 10,403 Shareholder’s equity 2,710 Overseas 44 24 36 21 Less: Intangibles (25) RWAs 10,341 10,834 10,439
Slide 71: Overall capital requirements
Overall capital requirements CET1 and Total capital ratio minimum capital CET1 ratio requirements on 31 December 2025 are set at 11.38% c.12.16% and 16.08% respectively 11.34% 11.38% c.1.50% CCyB c.0.92% c.0.90% 2.25% O-SII c.1.88% c.1.94% Pillar 2 requirement decreased by 25 bps to 2.50%, CCB 2.50%
Slide 72: Buffer to MDA restrictions level & distributable items
Buffer to MDA restrictions level & distributable items CET1 Ratio Significant CET1 MDA buffer as at 31 December 2025: 958 bps1 (€999 mn1) Distance to MDA: 958 bps Distributable items2 of €2,332 mn for 21.0% BOCH as at 31 December 2025 11.4% CET1 ratio MDA threshold Dec 25 1 Dec 25 For footnotes refe
Slide 73: Significant buffer above the MREL requirement
Significant buffer above the MREL requirement MREL ratio including capital used to meet the CBR1 ( as MREL (% of RWAs) % of RWAs) at 35.3%2 as at 31 December 2025 35.3% MREL ratio (as % of Leverage Ratio Exposure (LRE)) at 30.3% 4 29.4% 13.1%2 as at 31 December 2025 9.3% c.6.3% c.5.3% 5 Based on SRB
Slide 74: Income statement bridge for FY2025
Income statement bridge1 for FY2025 Underlying Statutory € mn Other basis basis Net interest income 731 - 731 Net fee and commission income 180 - 180 Net foreign exchange gains and net gains on financial instruments 43 1 44 Net losses on derecognition of financial assets measured at amortised cost -
Slide 75: 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 4Q2025 FY2024 FY2025 Loans and advances to customers 138 139 139 132 124 121 119 119 548 483 Loans and advances to banks and central banks 92 73 69 64 57 46 42 42 298
Slide 76: Income statement by business line for FY2025
Income statement by business line for FY2025 IBU & Consumer SME Corporate € mn International RRD REMU Insurance Treasury JCC Other Total Banking Banking Banking corporate Net interest income/(expense) 343 52 131 126 9 (10) 1 89 - (10) 731 Net fee & commission income/(expense) 67 11 20 48 2 - (9) 5 2
Slide 77: Statutory income statement for insurance businesses for FY2025
Statutory income statement for insurance businesses for FY2025 € mn FY2025 FY2024 yoy% € mn FY2025 FY2024 yoy% Insurance revenue 87.7 81.2 8% Insurance revenue 74.6 69.2 8% Insurance service expense (46.3) (44.3) 4% Insurance service expense (61.6) (38.1) 62% Net insurance service result 41.4 36.9 1
Slide 78: Leading card processing and payment solutions business in Cyprus
Leading card processing and payment solutions business in Cyprus Strong transaction growth in value; up 14% yoy Value of transactions (€ mn) 11% 19% 79% +14% Contribution Market 18,049 to non-NII ROE share1 15,901 14,003 11,830 Net fee and commission income up 5% yoy, driven by FY2022 FY2023 FY2024
Slide 79: 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 & insurance products in Jinius (i.e do • Remittance management • Product Marketplace (14 pro
Slide 80: Appendix: Additional Asset Quality Slides
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Additional Asset Quality Slides
Slide 81: Well diversified loan portfolio with high quality collateral
Well diversified loan portfolio with high quality collateral Gross performing loans1 by business sector of €10.87 bn € bn Housing Other Private 4.11 0.75 4.86 Individuals Hotels & 1.19 Catering Trade 0.91 Private individuals Private individuals Business LTV2 Housing Other €6.01 bn Real Estate 0.89 €
Slide 82: Loans by economic activity, customer type and arrears analysis
Loans by economic activity, customer type and arrears analysis Gross loans (€ mn) Dec 241 Sep 252 Dec 25 Gross loans by customer Dec 241 Sep 252 Dec 25 Trade 904 903 921 type (€ mn) Manufacturing 317 461 460 Retail 3,607 3,678 3,740 Hotels & Catering 1,153 1,202 1,188 Retail other 1,075 1,109 1,115
Slide 83: Gross loans by IFRS 9 stage
Gross loans by IFRS 9 stage Gross loans by IFRS 9 stage Stage 2 ratio and coverage Stage 3 ratio and coverage € mn 10,801 10,955 Coverage Coverage 127 1% 5.0% 6.3% 6.4% 56% 65% 70% 10,261 134 Stage 3 771 804 7% 202 Stage 2 802 2.0% 7.8% 7.1% 7.3% 9,257 9,896 10,024 92% 1.2% 1.2% Stage 1 Stage 2 as S
Slide 84: Stage 2 exposures at 7% of loan book
Stage 2 exposures at 7% of loan book; 99% of exposures present no arrears € mn 804 Limited migration rate1 of Stage 2 to Stage 3 at 2.5% 4.0% 29 Hotel & catering 5.4% 55 Trade 62 5.2% 9.0% Real estate Construction 166 7.0% • €276 mn (34%) Performing Forborne 2.5% • €165 mn (21%) Individual assessmen
Slide 85: Rescheduled Loans
Rescheduled Loans Rescheduled loans1 by customer type Fair value of collateral and credit enhancements € bn Dec 24 Sep 25 Dec 25 Loans and advances to customers (€ mn) Dec 25 Retail housing 0.09 0.05 0.04 Cash 608 Retail other 0.02 0.02 0.01 Securities 576 Letters of credit / guarantee 231 SMEs 0.03
Slide 86: REMU - the engine for dealing with foreclosed assets
REMU - the engine for dealing with foreclosed assets REMU repossessed stock reduced to €377 mn in December 2025 Organic sales1 comfortably above Book Value BV to 80% 76% 72% 71% 72% 71% 69% OMV 2.0 112% 111% 112% 111% 106% 107% 102% 1.5 94% 1.08 87% 89% 89% 85% 1.0 0.86 -€283 mn 81% 75% Group BV 0.6
Slide 87: REMU - the engine for dealing with foreclosed assets
REMU - the engine for dealing with foreclosed assets €2.47 bn sales1 of 5,317 properties across all property classes €290 mn sales1 in FY2025; comfortably above Book Value since set-up Sales € mn (contract prices1) 107% 110% 126% 106% 75% 82% 89% 73% 99 331 575 579 492 1,130 674 569 486 382 Sales €2
Slide 88: 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 31 December 2025 Group BV (€ mn) 20 Land 41 Golf 523 1,488 Commercial & Manufacturing (1,353) 63 €377 Residential 222 Overseas 31 (18) (263) 377 Jan 1
Slide 89: Appendix: Footnotes
Table of contents Appendix Footnotes
Slide 90: Footnotes
Footnotes Source: Cystat, Eurostat Slide 6 - Cypriot economy continues to 1) In accordance with Ministry of Finance October 2025 outpace the Eurozone 2) In accordance with Autumn 2025 Economic Forecast of European Commission 3) Harmonised Index of Consumer Prices Source: Cystat, Eurostat Slide 7 – L
Slide 91: Footnotes
Footnotes Slide 20 Gross performing loans up 8% yoy; 1) Includes Corporate, International corporate, International business services, SME and Retail. growth continues across all business lines 1) Net of non-recurring items; FY2024: relates to insurance reimbursement and release of lease liability of
Slide 92: Footnotes
Footnotes 1) FY2024: relates to insurance reimbursement and release of lease liability of €3 mn and the negative impact from models’ recalibration of life insurance of €3 mn. FY2025: Slide 40 - Focused on growing high quality, relates to insurance reimbursement of €10 mn and release on premium tax o
Slide 93: Footnotes
Footnotes 1) BOC Oncology Centre contribution assessed as a material topic (Entity Specific) to be reported in Sustainability Statement for FY2024 and FY2025 prepared in accordance with the European Sustainability Reporting Standards (ESRS) under Corporate Sustainability Reporting Directive (CSRD).
Slide 94: Footnotes
Footnotes Slide 82 - Loans by economic activity, 1) Pro forma for HFS; Agreement for the sale of €27 mn NPEs in 3Q2024 and c.€39 mn in 4Q2024 ; completed in 1Q2025 customer type and arrears analysis 2) Pro forma for HFS; Agreement for the sale of €35 mn NPEs, completed in 4Q2025 1) Pro forma for HFS
Slide 95: Appendix: Glossary & Definitions
Table of contents Executive Summary – Updated Financial Targets FY2022 Financial Performance Appendix Glossary & Definitions
Slide 96: Glossary & Definitions
Glossary & Definitions AC Amortised cost bonds. The Group’s profit after tax (attributable to the owners of the Company) as reported, adjusted for the results of certain one-off items (e.g. capital gains, certain write-downs/write-ups relating to certain re-organisation activities and/or legacy rela
Slide 97: Glossary & Definitions
Glossary & Definitions DTA Deferred tax asset. DFAs Debt for Asset Swaps. DFEs Debt for Equity Swaps. DTC Deferred Tax Credit. 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 balance
Slide 98: 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 99: 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 100: 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 101: Glossary & Definitions
Glossary & Definitions 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 Return on Tangible equity (ROTE) minus intangible assets and any accrual for distribution