ABBank doubled its profitability in the first quarter of 2022

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Net operating profit of 2.4 million euros compared to 1.1 million euros in the corresponding quarter last year was recorded by ABBank, recording an increase of 116%. In terms of pre-tax and forecast profits, they reached above the level of 3.5 million euros against 1.8 million euros. That is, they recorded an increase of 93%.

Total assets, which since the end of last year exceeded 1 billion euros, amounted to 1,052 million euros at the end of the first quarter and the balance of loans after provisions decreased marginally to 542 million euros compared to 566 million euros. euros at the end of 2021.

87% of the loan portfolio consists of shipping loans and 13% of non-shipping business loans.

Non-performing loans remained at 10.9 million euros or 2% of total loans before provisions with coverage from provisions at 50%.

Customer deposits increased further by € 70 million or 8% to € 912 million from € 842 million at the end of 2021, while the existence of sufficient liquidity helped reduce interbank lending, which fell to € 30 million from € 49 million. euros in the previous quarter.

Liquidity ratios remained strong, with the loan-to-deposit ratio standing at 61% in the first quarter of 2022 and the liquidity hedging ratio (LCR) at 190%.

The CET-1 Core-Equity ratio, taking into account the Net Profit for the year 2021 and those of the first quarter of 2022, stands at 15.9%, with full absorption of the impact of IFRS-9 and without its supervisory funds including deferred tax claim against the Greek State.

Source: Capital

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