ABBank’s net profit after tax for the nine months of 2022 increased by 117% compared to the corresponding period last year and amounted to approximately EUR 10.2 million compared to EUR 4.7 million last year. The nine-month results are already 48% higher than the net result of the entire previous year, which amounted to 6.9 million euros. Profit before taxes and provisions for the nine months of 2022 exceeded 15 million euros.

The results of nine months have already exceeded the net result of the entire previous year by 48%.

Head of Strategic Planning Department and Senior Vice President of ABBank, Anastasios Aftonidis addressing “K” forecasts 2022 to end with an after-tax profit of more than €15 million, with capital adequacy and liquidity maintained at nine months. In particular, the core capital ratio of ABBank CET-1, taking into account net profit for the first nine months, is set at 16% with full absorption of the impact of IFRS-9 and excluding regulatory capital, taking into account deferred tax. claims against the Greek state. Accordingly, liquidity ratios remained at healthy levels, with a loan to deposit ratio of 57% and a liquidity coverage ratio (LCR) of over 180%. Given these data, “the return on equity (ROE) of the bank is estimated at more than 15%,” notes Mr. Aftonidis, and the share of non-performing loans will be below 1%.

Since the first half of 2022, ABBank has managed to further expand its customer base both in terms of loans and deposits. Thus, in nine months, total assets amounted to 1.21 billion euros, from 1 billion euros at the end of 2021. The balance of loans after provisions was EUR 607 million, up from EUR 566 million at the end of 2021, with 87% of this consisting of shipping loans and 13% of non-shipping business loans. Problem loans accounted for 1.8% of all loans, of which 55% were covered by provisions. Deposits rose almost 30% to €1.08 billion from €842 million at the end of 2021, while interbank lending fell to €4 million from €49 million last year.