Attica Bank reports efficiency, profitability

The year of 2023 was a landmark for Attica Bank, marking the lender’s consolidation, recovery and return to operating profitability after a long glut, according to a statement issued by the bank on Thursday.

The performance throughout 2023 confirmed the strategic focus on the transformation of Attica Bank, with the lender’s management and staff implementing the business plan with intensive efforts and commitment to the objectives.

Attica Bank reported recurring operating profits (before provisions) of €21.9 million for the full year 2023, mainly thanks to the increase in interest income and the reduction of the cost base in the context of the implementation of the bank’s business plan, compared to a loss of 38.5 million euros in the comparative period.

In Q4, recurring operating profits amounted to €10.4 million (up by approximately 50% year-on-year), compared to a loss of €4.3 million in the corresponding quarter of 2022.

For 2023, profits before tax amounted to €28.6 million compared to a loss of €356.6 million in the corresponding comparative period. The bank’s total deposits amounted to €3.2 billion.