Group Financial Highlights

2022
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20/09/2022

Six-Month Results 2022

During the first six months of 2022, €556m of new loans with healthy risk-return profile were granted, recording an increase of 43% compared to new lending of €388m for the same period last year. We maintain a strong capital adequacy ratio of c.21,9%, (pro-forma) well above the regulatory requirements, and ample liquidity with a Liquidity Coverage Ratio of 473%.

We are well positioned and committed to support our viable retail and business customers.

10/06/2022

First Quarter Results 2022

Hellenic Bank has already embarked on a 3-year transformation journey. Our aim is to unleash our potential and deploy our strategy to achieve sustainable profitability. We are in the process of transforming into a customer centric organisation, by improving customers’ experience through digitalisation, streamlining of procedures and by offering simple and competitive products. At the same time, we are enhancing the profile of our loan book through healthy growth with a strong focus on Environmental, Social and Governance issues (ESG).

Annual Financial Report 2021

The Bank stands by its customers at these very difficult times and during 2021 supported the recovery of the economy with €908 million of new loans, generating Group net interest income of €256 million and Group non-interest income of €103 million for 2021.

21/04/2021

End Year Results 2021

With a robust capital adequacy ratio of 21, 7% and liquidity coverage ratio of 499% at the end of 2021, we remain committed to supporting our customers and provide financing to sectors that increase the competitiveness and productivity of the economy, such as health, education, energy, ICT, hospitality, transportation and shipping.

30 November 2021

Nine-Month Results 2021

Another priority for us is to accelerate our transformation journey, to unlock our potential and achieve long term sustainable profitability. We reiterate our commitment to transform the Bank into a customer friendly organisation by improving our customer experience through digital onboarding, streamlining of our procedures and enhanced product scope.

24 September 2021

Six-Month Results 2021

We remain committed in transforming the Bank into a customer centric organisation by improving our customer experience through digitalisation, streamlining of our procedures and enhanced product scope. We want to enhance the profile of our loan book through healthy growth with a strong focus on ESG (Environmental, Social and Governance). Other key priorities include the management of our high cost base and our excess liquidity, and the implementation of a meritocratic HR strategy.   

08/06/2021

First Quarter Results 2021

The economic environment in Cyprus and globally continue being affected by the COVID-19 pandemic. However, with the gradual reopening of the domestic economy and the implementation of a robust governmental fiscal and liquidity package, the activity in specific sectors is showing signs of a recovery. Despite the slowdown of the economic activity, our 1Q2021 financial results demonstrate the robustness of Hellenic Bank and the resilience of our business model.

Annual Financial Report 2020

With a solid capital adequacy ratio of 22,34% and excess liquidity (Liquidity Coverage Ratio of 477%), we are very well positioned to support our viable customers and finance the recovery of the country’s economy.

09/04/2021

End Year Results 2020

New lending during 2020 exceeded €1 billion making it a record year for Hellenic Bank. The solid performance of 2020 delivered an after-tax profit of €50,5 million.

01/12/2020

Nine-Month Results

“The impact of Covid19 pandemic on the global economy and on people and businesses in Cyprus, has been unprecedented. We remain focused on working closely together with the Government and the Supervisory Authorities to ensure that we continue to support our customers in these extraordinary circumstances. Our role is now more critical than ever.

25/09/2020

Six-Month Results

COVID-19 pandemic continues affecting the economic environment in Cyprus and globally. However, with the gradual opening up of the domestic economy and the implementation of a robust governmental fiscal and liquidity package, the activity in specific sectors is showing signs of a recovery

26/06/2020

First quarter results 2020

In the past three months, we have experienced an unprecedented crisis on a global scale as a result of the Covid-19 pandemic with lockdown measures imposed progressively, on all the countries. Cyprus was of course no exception. Nevertheless, our country’s success, to date, in dealing with this health crisis accompanied by the implementation of robust fiscal package allows us to emerge from the widespread lockdown with growing confidence. The economic activity indicators that we are daily monitoring are a solid proof of that.

Annual Financial Report 2019

Our 2019 financial results demonstrate the robustness and solidity of the enlarged Hellenic Bank. A significantly de risked balance sheet, enhanced and sustainable profitability (profit after tax of €108,4 million in 2019) and a strong capital position of Capital Adequacy Ratio of 22,56% prove that the enlarged Hellenic Bank has a solid, viable, long term business model, that safeguards our depositors, provides confidence to our borrowers and creates shareholder value.

Ioannis Matsis Chief Executive Officer

19/05/2020

End Year Results 2019

Our 2019 financial results demonstrate the robustness and solidity of the enlarged Hellenic Bank. A significantly de risked balance sheet, enhanced and sustainable profitability (profit after tax of €108,4 million in 2019) and a strong capital position of Capital Adequacy Ratio of 22,56% prove that the enlarged Hellenic Bank has a solid, viable, long term business model, that safeguards our depositors, provides confidence to our borrowers and creates shareholder value.

02/12/2019

Nine month Results 2019

Our nine-month 2019 financial results along with the resulting capital position demonstrate the robustness and solidity of the enlarged Hellenic Bank. Our business model is shaped to adapt with the rapid changes taking place, especially in the digital domain. Our plans aim in maintaining a sustainable profitability and in generating solid returns to our shareholders.

9M 2019 Profit after tax of €89,4 million

Leading Retail Bank on the island with the largest branch network and with market shares of 38,5% and 29,8% in household deposits and loans, respectively

Strong Capital Position: CET1 ratio of 19,0% and Capital adequacy ratio of 21,5%, significantly above minimum regulatory requirements

A significantly de-risked balance sheet: NPEs ratio at 25,2% (or 31,8% incl. the APS -NPEs), and Net NPEs to Assets ratio at 4,0%(or 6,6% incl. the APS -NPEs)

27/09/2019

Six month Results 2019

Our six-month results reflect part of the benefits from the acquisition of the ex-CCB operations. A significantly de-risked balance sheet, enhanced and sustained profitability and a strong capital position with a CET1 ratio of 18,49% prove that the enlarged Hellenic Bank has a solid, viable, long term business model, that safeguards our depositors and creates shareholder value.

2Q2019 Net interest income of €75,8 million

2Q2019 Profit after taxation of €44,2 million; 6M2019 Profit after taxation of €59,1 million

NPEs ratio (excl. APS-NPEs) at 25,2%

CET1 ratio of 18,49% and Capital adequacy ratio of 20,97%

28/06/2019

First quarter results 2019

The acquisition of CCB operations and the simultaneous de-risking of our balance sheet and business model established Hellenic Bank as the strongest and most viable bank in Cyprus, safeguarding our depositors’ assets, generating value to our shareholders and providing good quality products and services to all our customers.

1Q2019 Net interest income of €75,3 million

1Q2019 Profit before provisions of €35,9 million, and 1Q2019 Profit after taxation of €14,9 million

NPEs ratio (excl. APS-NPEs) at 26,5%

CET1 ratio of 18,54%1 and Capital adequacy ratio of 21,16%1, following the successfully completed €150 million Capital Raise

  

Annual Report 2018

We are turning a page and focusing on the future. Our next challenge and primary strategic priority for 2019 is the speedy and seamless transition to the new era, along with a smooth integration of our systems and staff.

Ioannis Matsis Chief Executive Officer

End Year Results 2018

The acquisition of CCB business established Hellenic Bank as the leading retail and SME bank in Cyprus whilst simultaneously de-risking our balance sheet and business model.

Leading retail bank, with the largest branch network and with market shares of 39,0% (up from 11,7%) and 30,2% (up from 6,5%) in household deposits and loans, respectively

Second largest bank in Cyprus, with market shares of 30,9% (up from 12,0%) and 19,5% (up from 8,6%) in terms of deposits and loans respectively

Acquisition balance sheet totaling €9,3 billion, comprising of loans of €4,0 billion (€3,6 billion of performing loans and €0,4 billion of NPEs), Cyprus Government Bonds (CGBs) (€4,1 billion), cash (€1,0 billion), customer deposits (€8,8 billion) and certain other current liabilities and assets

19/12/2018

Nine Month Results 2018

Our profitability and resulting capital position further safeguards our depositors and creates shareholder value. The acquisition of ex CCB strengthens our business model and propels the Bank into consistent, healthy profitability.

9-month Profit after tax of €295,9 million

Proforma CET1 ratio of 18,2% and capital adequacy ratio of 20,9%t aking into account the €150 million fully underwritten capital raise, expected to be completed by March 2019

Leading  Retail  Bank  on  the  island  with  market  share  in  household  deposits  of  39%  and marketshare in household loans of 30%

Quarter-on-quarter, NPEs  ratio reduction  from  51,6%  to  25,6% and  Net  NPEs to  Assetsratio reduced from 12%to 4%5

10/09/2018

Six Month Results 2018

During the first half of 2018 the Group’s proforma CET1 ratio of 13,7% and the capital adequacy ratio of 17,4%, both on a transitional basis, are well above minimum regulatory capital requirements.

High lending momentum; €328 million of loans approved during 6M2018, up by 77% YoY

High NPEs provision coverage, at 62% with Net NPEs collateral coverage at 142%

Net NPEs to Assets reduced to 11,7%

CCB deal provides attractive strategic, commercial and financial benefits to the Bank

Pro forma Common Equity Tier 1 (CET 1) Ratio at 13,7% and Capital Adequacy Ratio of 17,4%, on a transitional basis

01/06/2018

First quarter 2018 results

During 1Q2018 we made further progress in our strategic priorities, strengthening the Bank through the continuous resolution of NPEs and growing the Bank’s franchise by becoming a more customer-centric institution.

1Q2018 Profit after tax of €28,6 million

High lending momentum; €139 million of loans approved during 1Q2018, up by 57% YoY

NPEs provision coverage at 62% with Net NPEs collateral coverage at 142%

Net NPEs to Assets reduced to 12%

Annual Report 2017

For Hellenic Bank, 2017 was a landmark year, marking the beginning of our transformation journey. We made significant progress in our strategic priorities, strengthening the Bank through the continuous resolution of NPEs (non-performing exposures) and growing the Bank’s franchise by becoming a more customer-centric institution. At the same time, we continued on our steady and disciplined course towards viable organic growth, supporting and responsibly financing the Cypriot economy.

Ioannis Matsis Chief Executive Officer

30/03/2018

Audited Financial Report 2017

Hellenic Bank Public Company Ltd announces that the Board of Directors of the Bank, during its meeting held yesterday, approved, inter alia, the Annual Financial Report of Hellenic Bank Group for the year ended 31st December 2017. Find below the announcement, Presentation and the Report.

01/03/2018

Preliminary Results 2017

FY2017 was a landmark year, marking the beginning of our transformation journey. We made significant progress in our strategic priorities, strengthening the Bank through the continuous resolution of NPEs and growing the Bank’s franchise by becoming a more customer-centric institution

1st Cypriot bank to agree to sell an NPEs1 portfolio, totaling €145 million

NPEs reduced for 9 consecutive quarters; NPEs ratio at 53,3% (post NPE trade agreement)

NPEs provision coverage at 59,6% (post NPE trade agreement); net NPEs collateral coverage at 136,2%

Net NPEs to Assets at 12,8%, significantly lower than Cypriot peers

28/11/2017

Nine-month results 2017

Profit before provisions of €65,3 million, compared to €78,3 million in 9M2016

Profit for the quarter of €5,1 million compared to a loss of €12,8 million in the previous quarter

Net Interest Margin increased by 7 bps during 3Q2017 to 2,1%

Loss for the period of €17,8 million, compared to €5,0 million profit for 9M2016

This was the first profitable quarter following three consecutive loss-making quarters, with a profit after tax of €5,1 million.

30/08/2017

Interim results 2017

Profit before provisions of €51,8 million, compared to €58,8 million in 6M2016

Net gain of €19,0 million from the disposal of the operations of the Arrears Management
Division as a result of the agreement with APS Holding a.s.

2Q2017 charge for impairment losses and provisions to cover credit risk of €50,3 million

Loss for the period of €22,9 million, compared to €1,1 million profit for 6M2016

24/05/2017

First quarter results 2017

We achieved further progress in executing our strategic priorities during the first quarter of 2017. 

Profit before provisions of €17,1 million, compared to €22,7 million in 1Q2016

Loss before tax of €10,2 million, compared to a profit of €1,1 million in 1Q2016

Loss for the quarter of €10,1 million, compared to a profit of €0,7 million in 1Q2016

Loss attributable to the Bank’s shareholders of €10,5 million, compared to €0,3 million profit
for 1Q2016

Annual report 2016

In 2016, we continued to actively support recovery of the economy granting €354 million in new loans, equivalent to the one third(1/3) of the total loans given to the island

Ms. Irena A. Georgiadou Chairwoman, Board of Directors

31/03/2017

Audited financial results 2016

Loss attributable to the Bank’s shareholders for the year ended 31 December 2016 amounted to €63,5 million

02/03/2017

Preliminary results for the year ended 31 December 2016

Following the Meeting of the Board of Directors of Hellenic Bank Public Company Ltd dated 28th of February 2017, we attach hereto:
 ​​​​​​​

the Preliminary Results of Hellenic Bank Group for the year ended 31st December 2016

the relevant Press Release

the Presentation to Investors and

the Publication to daily newspaper

Kindly note that the abovementioned Preliminary Results for the year 2016 of Hellenic Bank Group will be published in the newspaper "Politis" on Thursday 2nd March 2017.

28/11/2016

Nine-month results 2016

We have made further progress executing our strategic priorities in the third quarter of 2016.

Profit before provisions of €78,3 million, up by 26% compared to 9M 2015

Profit after tax from continuing operations of €5,0 million, compared to €1,9 million for 9M 2015

Profit attributable to the Bank’s shareholders at €4,5 million, compared to €6,1 million for 9M 2015

30/08/2016

Interim results 2016

€1,1 million profit for the period ended 30 June 2016

13,92% Common Equity Tier 1 (CET 1) ratio, above the 11,75% minimum required by the SSM

A stable net loans to deposits ratio of 50,5% allowing for further growth

24/05/2016

First quarter results 2016

€0,3 million profit for the quarter

13,81% Common Equity Tier 1 (CET 1) ratio, well above the 11,75% minimum required by the SSM

A net loans to deposits ratio of 51,5%

Capital and liquidity position allow for further growth in 2016

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