29/11/2016 09:49
Hellenic Bank was profitable for the third consecutive quarter during 2016, reporting a profit from continuing operations of €5 for the nine-month period ended 30 September 2016, compared to €1,9 million for the nine-months period of 2015. Profit after tax for third quarter of 2016 was €3,9 million.
According to a press release, the Bank approved €240 million of new lending during the first nine months of 2016. During the same period, the Bank also completed further restructurings of €490 million.
Non-performing exposures (NPEs) reduced for the fourth consecutive quarter (down by 11% YoY) to €2.395 million at 30 September 2016, down by 4% compared to 30 June 2016. NPEs ratio reduced to 57,1%, compared to 61,2% a year earlier. The ratio of NPEs to gross loans as at 30 September 2016 was reduced to 57,1% (30 June 2016: 57,7%, 31 December 2015: 59,2%, 30 September 2016: 61,2%).
Common Equity Tier 1 (CET 1) ratio bolstered by 45 basis points during 3Q 2016 to 14,37%, resulting in a total capital adequacy ratio of 17,66%, well above the minimum regulatory requirement.
During the first nine months of 2016 the Group maintained its strong liquidity position. The net loan to deposits ratio stood at 50% as at 30th September 2016. On 30th September 2016, total deposits amounted to €6,0 billion while total gross loans reached €4,2 billion.
The total expenses for the nine-month period ended 30 September 2016 amounted to €107,8 million, down by 6% compared to the €114,2 million of the respective nine-month period ended 30 September 2015, mainly due to decreases in administrative and other expenses. The cost to income ratio for the nine-month period ended 30 September 2016 was 57,9%, compared to the 64,8% for the nine-month period ended 30 September 2015.
“We have made further progress executing our strategic priorities in the third quarter of 2016. We reduced NPEs for a fourth consecutive quarter to their lowest level post December 2014. We completed almost half a billion of restructurings during the first three quarters of 2016 and the loan restructuring momentum remains strong, with an increased number of restructuring agreements in the pipeline. We continue to explore all available options in an effort to decisively address problematic loans, using a tool case of sustainable solutions such as debt to asset swaps, balance reductions, maturity extensions, grace periods, installment reductions and servicing support”, says in a written statement the Bank`s CEO Bert Pijls.
He added that they bolstered the Group’s CET1 ratio by 45 basis points to 14,37% due to lower risk weighted assets and organic capital generation, and the Group’s capital ratios are comfortably above the minimum regulatory requirements.
“We recorded profits for a third consecutive quarter in 2016, with profit after tax for 3Q2016 of €3,9 million. A very low loans to deposits ratio enables our lending expansion and about €240 million loans were approved since the beginning of the year, supporting creditworthy households and businesses,” he pointed out.
According to a press release, the Bank approved €240 million of new lending during the first nine months of 2016. During the same period, the Bank also completed further restructurings of €490 million.
Non-performing exposures (NPEs) reduced for the fourth consecutive quarter (down by 11% YoY) to €2.395 million at 30 September 2016, down by 4% compared to 30 June 2016. NPEs ratio reduced to 57,1%, compared to 61,2% a year earlier. The ratio of NPEs to gross loans as at 30 September 2016 was reduced to 57,1% (30 June 2016: 57,7%, 31 December 2015: 59,2%, 30 September 2016: 61,2%).
Common Equity Tier 1 (CET 1) ratio bolstered by 45 basis points during 3Q 2016 to 14,37%, resulting in a total capital adequacy ratio of 17,66%, well above the minimum regulatory requirement.
During the first nine months of 2016 the Group maintained its strong liquidity position. The net loan to deposits ratio stood at 50% as at 30th September 2016. On 30th September 2016, total deposits amounted to €6,0 billion while total gross loans reached €4,2 billion.
The total expenses for the nine-month period ended 30 September 2016 amounted to €107,8 million, down by 6% compared to the €114,2 million of the respective nine-month period ended 30 September 2015, mainly due to decreases in administrative and other expenses. The cost to income ratio for the nine-month period ended 30 September 2016 was 57,9%, compared to the 64,8% for the nine-month period ended 30 September 2015.
“We have made further progress executing our strategic priorities in the third quarter of 2016. We reduced NPEs for a fourth consecutive quarter to their lowest level post December 2014. We completed almost half a billion of restructurings during the first three quarters of 2016 and the loan restructuring momentum remains strong, with an increased number of restructuring agreements in the pipeline. We continue to explore all available options in an effort to decisively address problematic loans, using a tool case of sustainable solutions such as debt to asset swaps, balance reductions, maturity extensions, grace periods, installment reductions and servicing support”, says in a written statement the Bank`s CEO Bert Pijls.
He added that they bolstered the Group’s CET1 ratio by 45 basis points to 14,37% due to lower risk weighted assets and organic capital generation, and the Group’s capital ratios are comfortably above the minimum regulatory requirements.
“We recorded profits for a third consecutive quarter in 2016, with profit after tax for 3Q2016 of €3,9 million. A very low loans to deposits ratio enables our lending expansion and about €240 million loans were approved since the beginning of the year, supporting creditworthy households and businesses,” he pointed out.
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