Bank of Cyprus Holdings PLC (CHIX:BOCHl)
£ 3.87 (0%) Market Cap: 1.73 Bil Enterprise Value: -3.35 Bil PE Ratio: 5.63 PB Ratio: 0.94 GF Score: 58/100
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Preliminary Q4 2024 Bank of Cyprus Holdings PLC Earnings Call Transcript

Feb 18, 2025 / 10:00 AM GMT

Key Points

Positve
  • Bank of Cyprus Holdings PLC (BKCYF) achieved a record net profit of over $500 million in 2024.
  • The company maintained a strong capital position with a regulatory CT1 total capital ratio of 19.2% and 24.0% respectively.
  • The bank's cost to income ratio was at a low 34% for the full year, indicating strong revenue support.
  • The company successfully moved its listing from London to Athens, improving stock liquidity and visibility.
  • BKCYF achieved a significant reduction in its NPE ratio to below 2%, indicating improved asset quality.
Negative
  • Net interest income is expected to decline in 2025 to below $700 million due to lower interest rates.
  • The cost base was impacted by inflationary pressures on staff costs and higher IT, marketing, and professional fees.
  • Non-interest income fell by 9% in 2024, mainly due to higher claims and recalibrations of some insurance models.
  • The bank expects an increase in the cost to income ratio in 2025 to around 40%, indicating potential cost pressures.
  • There were impairments of €17 million in the fourth quarter relating to specific large illiquid properties.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

BOCH.CY - Bank of Cyprus Holdings PLC
Preliminary Q4 2024 Bank of Cyprus Holdings PLC Earnings Call
Feb 18, 2025 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. I am Yoko's call operator. Welcome and thank you for joining the Bank of Cyprus conference call to present and discuss the preliminary full year 2024 financial results conference call. At this time, I would like to turn the conference over to Mr. Panikos Nicolauo, Chief Executive Officer. Mr. Nicolauo, you may now proceed.

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Unidentified_2 [2]
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Good morning everyone.

Thank you for joining our financial results conference call for the year ended 31 December 2024. I am
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