Earnings boost for Hellenic Bank
Hellenic Bank announced on Tuesday after-tax profits of 240.7 million euros for the first nine months of 2023.
According to a Hellenic Group press release, this profit was mainly driven by the higher interest income from placements with central banks, other banks and debt securities. In addition, the bank retains a solid capital position with a CET1 ratio of 21.7% and a total capital ratio of 27.4%, significantly above minimum regulatory requirements.
Also, the bank announced a de-risked balance sheet with an NPE ratio of 2.7%, excluding the NPEs covered by the APS agreement. It is noted that transforming and addressing structural challenges are on track, focusing on digitalization and efficiency improvements.
During the first nine months of the year, the bank proceeded with new lending of €900 million, increased by 11% on an annual basis.
Commenting on the group’s financial results for the nine-month period to September 30, Antonis Rouvas, the group’s interim chief executive officer, stated that Hellenic Bank’s performance continued to be strong in the third quarter of 2023.
