Group Financial Highlights
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)
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%
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
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
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
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
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
Audited Financial Report 2017
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
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.
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
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
Annual report 2016
Audited financial results 2016
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.
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