Covered Bond Investor Presentation October 2017 Table of contents - PowerPoint PPT Presentation

Covered Bond Investor Presentation October 2017

Table of contents 2 Eurobank Overview and Financials 13 Capital and Liquidity 18 Asset Quality 26 Eurobank Mortgage Business: Loans Origination and Management 38 Eurobank Global Covered Bond Programme I Appendix I – Macroeconomic Update 51 Appendix II – Legal Framework Comparison 57 Appendix II – Glossary 59 Page 1

Eurobank Overview and Financials

Eurobank overview Key Highlights Key Figures Most private bank in Greece, 97.62% owned today by private 1 ( € bn, Unless Otherwise Stated) June 2017 investors (institutional and retail) and 2.38% by the HFSF Customer loans (net) 38.8 Customer deposits 34.1 Market leader in attractive fee generating businesses such as 2 equity brokerage, asset management, securities services & Total assets 64.0 private banking Tangible book value 5.8 Branches (Group) (#) 897 Highly experienced management team with long tenure at the 3 bank Employees (Group) (#) 15,846  CEO, Deputy CEOs and CRO with over 15 years with the Assets and Liabilities Breakdown ( € bn) – 2Q 2017 bank International presence Gross Loan Portfolio Balance Sheet 4 64.0 64.0  International platform including banking subsidiaries self Mortgages, Consumer, funded with deposit gathering outpacing loan growth Central Bank 35% 12% Other 14.0 22.3 funding and ‒ € 10.4bn deposits vs. € 6.8bn net loans as of 2Q 2017 Other Securities 11.2  Commercial and retail banking operations in Bulgaria, Romania and Serbia Deposits 34.1 Loans  38.8 Private and corporate banking operations in Cyprus  Private banking operations in Luxembourg Total Equity 7.6 Business, 53% Assets Liabilities Page 3

Eurobank is the most private bank in Greece 60% Private Shareholders 74% 89% 98% Hellenic 40% Financial Stability Fund 26% 11% 2% Eurobank Alpha Piraeus NBG Source: Bank’s registry data. Page 4

Leading position in fee generating activities Equity Brokerage Securities Services  The sole provider in Greece (ISO certified) offering a full  Market leader with full service equity brokerage and suite of securities services in line with international research firm standards   Voted best brokerage firm in Greece and best research in Best Securities Services Provider in Greece for 2017, by 2016 1 Global Finance eleven times over the last twelve years;   Top Rated Custodian for Institutional Investors in Greece, ~17% market share YTD in volumes traded 2 (consistently by Global Custodian for eleven consecutive years. ranking no.1 for past 8 years)  € 31.9bn assets under custody and € 3.6bn assets under management 3 Asset Management 4 Private Banking  Market leader in Greece with holistic servicing model in  Market leader in Greece with a 32,2% market share in four countries (Greece, Cyprus, London and Luxembourg) mutual funds and € 2.2bn of assets  We offer a unique proposition to our clients, including  More than € 1.0bn assets under management in multiple/multi-currency Discretionary mandates, Virtual segregated accounts Advisory & External Asset Management, Account Consolidation services, advanced Wealth & succession  Fund selection services in mutual funds of 15 planning solutions, Art Advisory and our totally revamped internationally recognised funds manages, with a total of Family Office offering. € 0.7bn of assets  € 5.6bn assets under management 5 Leadership position across businesses as a result of effective distribution coupled with a comprehensive product offering 1. Extel Survey / Thomson Reuters. 2. ATHEX. 3. As at 31 August 2017. 4. Data ad of 30 September 2017. 5. As of 2Q17. Page 5

Eurobank receives international recognition – recent awards Banking products and Services Digital Banking  Best SMS/Text Banking in Western Europe, Most Admired Companies #8, 2017 – Greece -Fortune 2017 – Greece Magazine and KPMG Survey  Best Consumer Digital Bank in Greece, 2017 - Greece  Best Corporate/Institutional Digital Bank in Best Bank 2016 & 2017 – Greece Greece, 2016 & 2017 - Greece Best Retail Bank 2016 - Greece  Gold Award for € pistrofi app in the Mobile Personalized Service, 2017 – Greece Other  Gold Award for Eurobank Mobile Αpp in the Mobile App for Consumers – Sector Best Security Services Provider 2016 & 2017 - Mobile App, 2017 – Greece Greece  Gold Award for PaF - Pay a Friend in the Use Best Domestic Trade Finance Provider 2017 – of Mobile for P2P Payment, 2017 - Greece Greece Best Treasury & Cash Management Provider 2016 & Gold Award for PaF - Pay a Friend in 2017 - Greece the Contactless Payment, P2P Payment category, 2017 - Greece Best Private Bank 2016 – Greece -The Banker & PWM Magazines - Financial Times Group Best Private Bank 2016 – Greece Page 6

International presence Total Assets ( € bn) 1.5 Net Loans ( € bn) 0.5 Deposits ( € bn) 1.2 Total Assets ( € bn) 1.3 Net Loans ( € bn) 0.9 Deposits ( € bn) 0.8 Total Assets ( € bn) 2.6 Branches (#) 80 Net Loans ( € bn) 1.7 Deposits ( € bn) 1.9 Branches (#) 147 Total Assets ( € bn) 3.4 Net Loans ( € bn) 2.4 Total Assets ( € bn) 4.3 Deposits ( € bn) 2.9 Net Loans ( € bn) 1.5 Branches (#) 174 Deposits ( € bn) 3.8 Private Banking 8 Centers (#) Grivalia Properties classified as held for sale. All previous quarters restated accordingly. Page 7 All data as of 2Q17.

2Q17 results 1 Highlights Key financials 2Q17 1Q17 Δ (%) 1H17 1H16 Δ (%) € m 1 Net profit € 40m in 2Q17 and € 76m in 1H17  Net interest income 388.9 381.5 2.0 770.4 771.0 (0.1) NII up 2.0% q-o-q; stable y-o-y Banking fee and Commission  Banking fee and Commission income up 4.5% q-o-q; up 19.4% y-o-y 71.9 68.8 4.5 140.6 117.8 19.4 income  Operating expenses down 2.6% y-o-y, Greece down 3.5% y-o-y Other income 35.3 40.2 (12.2) 75.6 130.9 (42.3) Operating income 496.1 490.5 1.1 986.6 1,019.8 (3.3) Asset Quality 2  Operating expenses (501.8) (244.9) (243.9) 0.4 (488.8) (2.6) Third quarter of negative NPE formation at € 193m  NPE stock down € 0.5bn in 2Q17; € 0.8bn in 1H17 Total 251.2 246.6 1.9 497.9 518.0 (3.9)  NPE ratio down 90bps q-o-q at 44.1% Loan loss provisions (183.7) (188.2) (2.4) (371.9) (397.5) (6.4)  NPE coverage up 30bps q-o-q at 51.1% Net Income before tax 2 51.4 52.2 (1.5) 103.6 112.8 (8.2) Net income after tax 39.7 36.5 8.8 76.3 106.5 (28.3) Liquidity 3  Deposits Greece up by € 0.7bn q-o-q; up € 0.3bn in 1H17 2Q17 1Q17 Ratios (%) 1H17 1H16  Current ELA funding at € 9.9bn; € 2.5bn down from 2017 peak 44.1 45.0 44.1 NPE 45.1 NPE coverage 51.1 50.8 51.1 50.0 Capital 4 90dpd 34.6 34.8 34.6 34.7  Eurobank plans to redeem € 950m preference shares issuing Tier II bonds 65.3 65.5 65.3 90dpd coverage 65.0  20% of Grivalia disposal on July 4th; 30bps gain on 2Q17 FLB3 CET1 17.4 3 17.4 3 CET1 17.3 16.7  Common Equity Tier 1 (CET1) ratio at 17.4% 3 14.4 3 14.4 3 FLB3 CET1 13.9 13.3  Fully loaded Basel III (FLB3) CET1 at 14.4% 3 , up 50bps q-o-q 113.8 115.1 113.8 Loans / Deposits 119.9 TBV per share ( € ) 2.64 2.58 2.64 2.48 5 International operations net profit € 42m in 2Q17 and € 71m in 1H17 EPS ( € ) 0.02 0.02 0.03 0.05 1. Grivalia Properties classified as held for sale. All previous quarters restated accordingly. 2. Before discontinued operations & restructuring costs. 3. Pro-forma for Grivalia disposal. Page 8

Net interest income NII breakdown ( € m) NII per region ( € m) 383 388 389 390 381 389 Total NII 383 388 389 390 381 389 104 107 106 108 104 108 International Greece 274 282 285 283 279 281 Loan margin 496 487 480 470 447 442 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 NII evolution q-o-q ( € m) 389 3 6 381 0 1 0 (3) Bonds & other 51 57 55 58 57 51 Money market & Repos (17) (21) (22) (24) (22) (28) (44) (45) (53) (48) (73) Eurosystem funding (66) (4) (4) (5) (10) (12) Pillar II (19) (48) (47) 1Q17 Eurosystem Deposits margin Loans margin Bonds Repos & other International 2Q17 (54) (56) (56) Deposit margin (55) 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Greece Grivalia Properties classified as held for sale. All previous quarters restated accordingly. Page 9

Banking fee and Commission income Banking fee and Commission income breakdown ( € m) Banking fee and Commission income per region ( € m) Fees excl. € m 73 71 70 75 71 75 Govt. guarantees bps 41 40 41 45 44 47 72 71 expense 57 69 61 66 72 71 69 66 19 21 18 61 Lending 24 20 19 57 28 28 25 27 26 International 24 35 34 37 34 32 37 Network 44 44 44 39 8 35 Greece 8 33 Capital Markets 6 5 6 3 11 Mutual funds 9 8 8 9 8 Rental & other income 3 3 3 3 2 2 (3) (3) (3) (5) Govt. Guarantee (10) expense (16) 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 Grivalia Properties classified as held for sale. All previous quarters restated accordingly. Page 10