The Bank of Cyprus Group announced the successful completion of the EU-wide stress test for 2023. According to the announcement, the results show the Group's resilience under adverse conditions and its ability to maintain organic profitability and sufficient capital even under extreme macroeconomic assumptions.

The outcomes for the Group, as well as its resilience to the parameters of the adverse stress test scenario, have shown significant improvements compared to the corresponding exercise in 2021, the bank said in a press release.

Under the adverse scenario, the capital depletion of the CET1 FL ratio over the 3 year horizon is in the range of 300 to 599 bps, compared to 600 to 899 bps in 2021 stress test, and compares well with the average 480 bps for the 98 ECB stress-tested banks, it added.

The CET1 FL as at the end of 2025 is in the range of 8% to 11%, and is above the capital requirements of the Bank.

The bank notes that the test is not a “pass-or-fail” exercise, and no threshold is set to define the failure or success of banks but it is designed to be used as an important input in the Supervisory Evaluation Process (SREP).

Hellenic Bank announced that the ECB Stress Test results exhibit significant improvement from the same, previous exercise which run in 2021 affirming Hellenic Bank’s strong capital adequacy position and are a testament to the resilience and credit outlook of the Bank, under Stress conditions. This is evidenced by the Min Capital position under the Stress horizon which has exhibited a 2 notch upgrade in ECB Bucket classification as well as in the Max Capital depletion which has exhibited 1 notch upgrade.