Attica Bank: Losses after taxes amounting to 8.51 million euros, compared to losses of 5.84 million euros last year, in the first quarter

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Losses after taxes of 8.51 million euros, compared to losses of 5.84 million euros last year, Attica Bank announced for the first quarter.

At the same time, as mentioned in a relevant announcement, the Bank on an annual basis showed an increase in commission income by 25% and continued significant improvement in the last five quarters according to the results of the first quarter of 2022. At the same time, operating income (including financial results) increased by 7.9% on an annual basis.

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The credit expansion continued in the first quarter of 2022 with new financing and refinancing amounting to 89 million euros compared to € 75 million in the corresponding period last year and with the quality indicators of the loan portfolio improving.

Attica Bank’s liquidity remains high, keeping the level of deposits of its customers at € 2.8 billion. Savings and cash deposits amounted to € 992 million, while time deposits to € 1,769 million.

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The minimum supervisory liquidity ratios remain above the minimum limits during the first quarter of 2022. In particular, the liquidity coverage ratio (LCR) amounted to 275% and the loan-to-equity ratio (before provisions) to the Group’s deposits amounted to 59.5%.

The Bank for the first quarter of 2022 presented an operating result before provisions, a loss of € 4.85 million, mainly due to the limitation of interest income. Despite the lower contribution of net interest income, the performance of the Bank’s main operating income remained stable, including financial results.

According to the Bank’s Management, 2022 will be a milestone year for Attica with the completion of the securitization process and the substantial elimination of Non-Performing Exposures (NPLs) of the past, as well as the implementation of the individual actions of the key shareholders’ agreement. Bank.

In this way, the consolidation of the balance sheet will be achieved and supervisory funds will be released, which will be channeled for the development of the Bank’s operations and the significant increase of its loan portfolio, areas in which the efforts of the Attica Management will now be focused. Bank.

You can see in detail the Financial Results of the first quarter 2022 of Attica Bank in the right column “Related Files”.

Source: Capital

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