The Hellenic Bank Ltd. published its results yesterday for the year 2000, during a press conference last night. Operational profits of the group, not including profits/losses from sale and re-evaluation of investments, reached CYP 22.5 million compared to CYP 12.8 million in 1999, an increase of 75.2%. Losses from sale and re-evaluation of investments were contained to CYP 743.000, attributed to mass sale of investments at the beginning of 2000, balancing losses of the rest of the year. Profits attributable to shareholders reached CYP 11.2 million.
The Board of Hellenic Bank proposed a final dividend of 10%, 2,5 cents per share, in addition to interim dividends of 8%, 2 cents per share of November 2000. In addition, the Board decided to offer shareholders incentives in the form of a discount of 7.5% on the exercise price of the right to reinvest the net amount of final dividends into shares of the bank.
Following a series of share issues during 2000, the capitalisation of the group increased to CYP 186 million, an increase of 62% with assets increasing by 32% to CYP 1.9 billion. Deposits increased by 30% and facilities offered by 23%.
For 2001, the aim of the Hellenic Bank is to double its branches in the Greek market by the operation of 13 branches. Further, the Bank will launch its life insurance operations through the new company Hellenic Alico Life Insurance Co. which resulted from the strategic partnership between the Bank and Alico AIG Life Ltd.
The Board of Hellenic Bank proposed a final dividend of 10%, 2,5 cents per share, in addition to interim dividends of 8%, 2 cents per share of November 2000. In addition, the Board decided to offer shareholders incentives in the form of a discount of 7.5% on the exercise price of the right to reinvest the net amount of final dividends into shares of the bank.
Following a series of share issues during 2000, the capitalisation of the group increased to CYP 186 million, an increase of 62% with assets increasing by 32% to CYP 1.9 billion. Deposits increased by 30% and facilities offered by 23%.
For 2001, the aim of the Hellenic Bank is to double its branches in the Greek market by the operation of 13 branches. Further, the Bank will launch its life insurance operations through the new company Hellenic Alico Life Insurance Co. which resulted from the strategic partnership between the Bank and Alico AIG Life Ltd.
Wednesday, 14 March, 2001 - 00:00