REG - Bank of Cyprus Hldgs - Interim Financial Report 2022 - 3B

Bank of Cyprus HoldingsAnnouncement

31/08/2022 07:16

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RNS Number : 7203X  Bank of Cyprus Holdings PLC  31 August 2022

Independent review report to Bank of Cyprus Holdings Public Limited Company

Report on the consolidated condensed interim financial statements

Our conclusion

We have reviewed Bank of Cyprus Holdings Public Limited Company's consolidated
condensed interim financial statements (the "interim financial statements") in
the Interim Financial Report of Bank of Cyprus Holdings Public Limited Company
for the six month period ended 30 June 2022 (the "period").

Based on our review, nothing has come to our attention that causes us to
believe that the interim financial statements are not prepared, in all
material respects, in accordance with International Accounting Standard 34,
'Interim Financial Reporting', as adopted by the European Union and the
Transparency (Directive 2004/109/EC) Regulations 2007, as amended, Part 2
(Transparency Requirements) of the Central Bank (Investment Market Conduct)
Rules 2019 and the applicable requirements of the Disclosure Guidance and
Transparency Rules of the UK's Financial Conduct Authority.

The interim financial statements, comprise:

·      The Interim Consolidated Balance Sheet as at 30 June 2022;

·      the Interim Consolidated Income Statement and Interim
Consolidated Statement of Comprehensive Income for the period then ended;

·      the Interim Consolidated Statement of Cash Flows for the period
then ended;

·      the Interim Consolidated Statement of Changes in Equity for the
period then ended; and

·      the explanatory notes to the interim financial statements.

The interim financial statements included in the Interim Financial Report have
been prepared in accordance with International Accounting Standard 34,
'Interim Financial Reporting', as adopted by the European Union and the
Transparency (Directive 2004/109/EC) Regulations 2007, as amended, Part 2
(Transparency Requirements) of the Central Bank (Investment Market Conduct)
Rules 2019 and the applicable requirements of the Disclosure Guidance and
Transparency Rules of the UK's Financial Conduct Authority.

As disclosed in note 3.2 to the interim financial statements, the financial
reporting framework that has been applied in the preparation of the full
annual financial statements of the group is applicable law and International
Financial Reporting Standards (IFRSs) as adopted by the European Union.

Basis for conclusion

We conducted our review in accordance with International Standard on Review
Engagements (Ireland) 2410, 'Review of Interim Financial Information Performed
by the Independent Auditor of the Entity' ("ISRE (Ireland) 2410") issued for
use in Ireland. A review of interim financial information consists of making
enquiries, primarily of persons responsible for financial and accounting
matters, and applying analytical and other review procedures.

A review is substantially less in scope than an audit conducted in accordance
with International Standards on Auditing (Ireland) and, consequently, does not
enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express
an audit opinion.

We have read the other information contained in the Interim Financial Report
and considered whether it contains any apparent misstatements or material
inconsistencies with the information in the interim financial statements.

Conclusions relating to going concern

Based on our review procedures, which are less extensive than those performed
in an audit as described in the Basis for conclusion section of this report,
nothing has come to our attention to suggest that the directors have
inappropriately adopted the going concern basis of accounting or that the
directors have identified material uncertainties relating to going concern
that are not appropriately disclosed.

 

This conclusion is based on the review procedures performed in accordance with
ISRE (Ireland) 2410. However future events or conditions may cause the group
to cease to continue as a going concern.

Responsibilities for the interim financial statements and the review

Our responsibilities and those of the directors

The Interim Financial Report, including the interim financial statements, is
the responsibility of, and has been approved by, the directors. The directors
are responsible for preparing the Interim Financial Report in accordance with
the Transparency (Directive 2004/109/EC) Regulations 2007, as amended, Part 2
(Transparency Requirements) of the  Central Bank (Investment Market Conduct)
Rules 2019 and the applicable requirements of the Disclosure Guidance and
Transparency Rules of the UK's Financial Conduct Authority. In preparing the
Interim Financial Report including the interim financial statements, the
directors are responsible for assessing the group's ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless the directors either intend
to liquidate the group or to cease operations, or have no realistic
alternative but to do so.

Our responsibility is to express a conclusion on the interim financial
statements in the Interim Financial Report based on our review. Our
conclusion, including our Conclusions relating to going concern, is based on
procedures that are less extensive than audit procedures, as described in the
Basis for conclusion paragraph of this report. This report, including the
conclusion, has been prepared for and only for the company for the purpose of
complying with the Transparency (Directive 2004/109/EC) Regulations 2007, as
amended, Part 2 (Transparency Requirements) of the Central Bank (Investment
Market Conduct) Rules 2019 and the applicable requirements of the Disclosure
Guidance and Transparency Rules of the UK's Financial Conduct Authority and
for no other purpose. We do not, in giving this conclusion, accept or assume
responsibility for any other purpose or to any other person to whom this
report is shown or into whose hands it may come save where expressly agreed by
our prior consent in writing.

 

PricewaterhouseCoopers

Chartered Accountants

30 August 2022

Dublin

 

 

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