23/09/2015 10:11
The management of Hellenic Bank is setting an ambitious growth plan for its balance sheet in order to capitalize on opportunities identified in the market and gain ground against competition.
The agenda of tomorrow’s meeting of the Board of Directors includes EBRD’s proposal to participate in the share capital of the Hellenic Bank in the framework of the authorization given last February by the general meeting of shareholders for a capital increase of up to 10%.
"EBRD’s participation in the share capital of the bank will grant prestige, access and reliability," notes the president of the Hellenic Bank Eirena Georgiadou in her statements to StockWatch. Mrs Georgiadou is certain that the proposal of the international bank for participation in the HB will be adopted.
She relates the impending capital increase with the prospects of the bank’s growth that she sees in the near future.
"The Hellenic Bank has sufficient capital and the need to increase the share capital by approximately €35 mn, is because there are opportunities to increase the market share, acquisition opportunities of some other banks or other growth opportunities in Cyprus or abroad" she said.
Based on the latest available data, the capital ratio of Common Equity Tier 1 (CET I) stood at 13.5% on June 30, 2015.
"We are not increasing the capital for the sake of the increase, but because we have drawn up a strategic plan for further development of the HB", the president stressed.
"It is for this reason that we are asking our shareholders’ permission to increase the capital of the bank in order to implement the strategy for growth that has been decided".
In this direction, she said, the management has approached several foreign organizations, of the same prestige as EBRD.
She noted that notwithstanding the imminent EBRD participation in the share capital of the group, interest from various investment funds for their participation in the share capital of the bank remains.
Mrs. Georgiadou noted that the way capital is used is very important.
"We aim to increase and shield our balance sheet, as the strategy decided by the Board provides" she said.
"Our market share is today a single digit number, about 7% and we aim to make it a double-digit number and it is within our capabilities."
She noted that a key objective of the HB which is being implemented gradually, is to expand the services offered by the bank in the promising field of shipping. We have already created the first specialized shipping center in Limassol which is quite successful.
HB announced a net profit attributable to shareholders of €75K for the first half of the year compared to a loss of € 95,5 mn in 2014 H1.
The agenda of tomorrow’s meeting of the Board of Directors includes EBRD’s proposal to participate in the share capital of the Hellenic Bank in the framework of the authorization given last February by the general meeting of shareholders for a capital increase of up to 10%.
"EBRD’s participation in the share capital of the bank will grant prestige, access and reliability," notes the president of the Hellenic Bank Eirena Georgiadou in her statements to StockWatch. Mrs Georgiadou is certain that the proposal of the international bank for participation in the HB will be adopted.
She relates the impending capital increase with the prospects of the bank’s growth that she sees in the near future.
"The Hellenic Bank has sufficient capital and the need to increase the share capital by approximately €35 mn, is because there are opportunities to increase the market share, acquisition opportunities of some other banks or other growth opportunities in Cyprus or abroad" she said.
Based on the latest available data, the capital ratio of Common Equity Tier 1 (CET I) stood at 13.5% on June 30, 2015.
"We are not increasing the capital for the sake of the increase, but because we have drawn up a strategic plan for further development of the HB", the president stressed.
"It is for this reason that we are asking our shareholders’ permission to increase the capital of the bank in order to implement the strategy for growth that has been decided".
In this direction, she said, the management has approached several foreign organizations, of the same prestige as EBRD.
She noted that notwithstanding the imminent EBRD participation in the share capital of the group, interest from various investment funds for their participation in the share capital of the bank remains.
Mrs. Georgiadou noted that the way capital is used is very important.
"We aim to increase and shield our balance sheet, as the strategy decided by the Board provides" she said.
"Our market share is today a single digit number, about 7% and we aim to make it a double-digit number and it is within our capabilities."
She noted that a key objective of the HB which is being implemented gradually, is to expand the services offered by the bank in the promising field of shipping. We have already created the first specialized shipping center in Limassol which is quite successful.
HB announced a net profit attributable to shareholders of €75K for the first half of the year compared to a loss of € 95,5 mn in 2014 H1.
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