EBA欧洲银行-GR035_11页_643kb

Summary of TT HELLENIC POSTBANK S.A. GREECE 2011 EBA EU-wide Stress Test Results

Core Tier 1 Capital and Capital Adequacy

• As of 31 December 2010:

  • Core Tier 1 capital: 1,223 million EUR (18.5% of RWA)
  • Risk weighted assets (RWA): 6,613 million EUR

• Baseline Scenario:

  • 2011: Core Tier 1 capital ratio = 18.6%
  • 2012: Core Tier 1 capital ratio = 18.7%

• Adverse Scenario:

  • 2011: Core Tier 1 capital ratio = 12.2%
  • 2012: Core Tier 1 capital ratio = 5.5%

• Additional capital needed to reach a 5% Core Tier 1 capital benchmark:

  • In the adverse scenario, additional capital of 893 million EUR is required (13.5% of RWA).

Impact of Mitigating Measures

• Mitigating measures announced between 31 December 2010 and 30 April 2011:

  • Capital ratio effect:
    • Use of provisions and/or other reserves: +1.0 percentage point
    • Divestments and other management actions: +0.6 percentage point
    • Other disinvestments and restructuring measures: Not specified
    • Future planned equity issuances: Not specified
    • Future planned government subscriptions: Not specified
    • Other back-stop measures: Not specified

• Supervisory Recognised Capital Ratio (as of 31 December 2012):

  • Adverse scenario with mitigating measures: 7.1%

Profit and Loss (P&L) Outcomes

• Operating profit before impairments:

  • 2010: 84 million EUR
  • 2011 (Baseline): 155 million EUR
  • 2012 (Baseline): 155 million EUR
  • 2011 (Adverse): 118 million EUR
  • 2012 (Adverse): 118 million EUR

• Impairment losses on financial and non-financial assets in the banking book:

  • 2010: -58 million EUR
  • 2011 (Baseline): -105 million EUR
  • 2012 (Baseline): -115 million EUR
  • 2011 (Adverse): -615 million EUR
  • 2012 (Adverse): -656 million EUR

• Operating profit after impairments and other losses from the stress:

  • 2010: 26 million EUR
  • 2011 (Baseline): 50 million EUR
  • 2012 (Baseline): 40 million EUR
  • 2011 (Adverse): -488 million EUR
  • 2012 (Adverse): -538 million EUR

• Net profit after tax:

  • 2010: -33 million EUR
  • 2011 (Baseline): 25 million EUR
  • 2012 (Baseline): 17 million EUR
  • 2011 (Adverse): -405 million EUR
  • 2012 (Adverse): -445 million EUR

Key Financial Indicators

• Net interest income:

  • 2010: 385 million EUR
  • 2011 (Baseline): 386 million EUR
  • 2012 (Baseline): 386 million EUR
  • 2011 (Adverse): 360 million EUR
  • 2012 (Adverse): 352 million EUR

• Trading income:

  • 2010: -104 million EUR
  • 2011 (Baseline): -24 million EUR
  • 2012 (Baseline): -24 million EUR
  • 2011 (Adverse): -27 million EUR
  • 2012 (Adverse): -27 million EUR

• Valuation losses due to sovereign shock:

  • 2011 (Adverse): 0%
  • 2012 (Adverse): 0%

Provisions and Risk Exposure

• Stock of provisions:

  • 2010: 216 million EUR
  • 2011 (Baseline): 320 million EUR
  • 2012 (Baseline): 434 million EUR
  • 2011 (Adverse): 815 million EUR
  • 2012 (Adverse): 1,454 million EUR

• Provisions for non-defaulted assets:

  • 2010: 82 million EUR
  • 2011 (Baseline): 87 million EUR
  • 2012 (Baseline): 93 million EUR
  • 2011 (Adverse): 571 million EUR
  • 2012 (Adverse): 1,060 million EUR

• Provisions for defaulted assets:

  • 2010: 134 million EUR
  • 2011 (Baseline): 233 million EUR
  • 2012 (Baseline): 341 million EUR
  • 2011 (Adverse): 244 million EUR
  • 2012 (Adverse): 394 million EUR

Coverage Ratio and Loss Rates

• Coverage ratio (%):

  • Corporate (excluding Commercial real estate): 37.0% (2011 Baseline), 37.0% (2012 Baseline), 37.0% (2011 Adverse), 37.0% (2012 Adverse)
  • Retail (excluding Commercial real estate): 40.4% (2011 Baseline), 40.2% (2012 Baseline), 40.7% (2011 Adverse), 39.9% (2012 Adverse)
  • Commercial real estate: 27.0% (2011 Baseline), 53.4% (2012 Baseline), 27.0% (2011 Adverse), 44.9% (2012 Adverse)

• Loss rates (%):

  • Corporate (excluding Commercial real estate): 1.7% (2011 Baseline), 1.9% (2012 Baseline), 1.9% (2011 Adverse), 2.7% (2012 Adverse)
  • Retail (excluding Commercial real estate): 1.1% (2011 Baseline), 1.2% (2012 Baseline), 1.2% (2011 Adverse), 1.6% (2012 Adverse)
  • Commercial real estate: 0.6% (2011 Baseline), 0.6% (2012 Baseline), 0.6% (2011 Adverse), 1.0% (2012 Adverse)

Additional Information

• Deferred Tax Assets: 221 million EUR

• Funding cost (bps):

  • 2010: 157 bps
  • 2011 (Adverse): 218 bps
  • 2012 (Adverse): 282 bps

• Capital Composition:

  • Common equity: 998 million EUR (15.1% of RWA)
  • Other existing government support measures: 225 million EUR (3.4% of RWA)
  • Core Tier 1 capital: 1,223 million EUR (18.5% of RWA)
  • Tier 1 capital: 1,223 million EUR (18.5% of RWA)
  • Tier 2 and Tier 3 capital: 0 million EUR each

Notes and Methodology

• The stress test was conducted using the EBA common methodology, which assumes a static balance sheet and incorporates regulatory transitional floors.

• All capital elements and ratios are based on the EBA definition of Core Tier 1 capital, which may differ from national supervisory definitions.

• The results should not be interpreted as forecasts or compared directly with other published information.

• Mitigating measures include:

  • Use of provisions and reserves
  • Divestments and management actions
  • Other disinvestments and restructuring measures
  • Future equity and government capital raisings
  • Back-stop measures recognized by national authorities

• The supervisory recognised capital ratio after all mitigating actions is 7.1% as of 31 December 2012.