ABBank showed improved results in fiscal 2022, whose major shareholders are currently in preliminary negotiations to sell 55% of the bank’s authorized capital. The said process, which is “managed” by Axia Ventures, has attracted significant investment interest, and the picture is expected to clear up over the next few weeks both for the preferred investor and for the price, which, however, according to market information, is moving well above book value. At the same time, Standard & Poor’s, as part of a planned credit rating upgrade, maintains the bank’s outlook as positive and a credit rating of B, noting “experienced management with a proven ability to execute” but also “concentrated impact on the shipping industry.”

In fiscal year 2022, ABBank recorded a net profit of 16 million euros, more than 9 million euros more than in 2021. The core capital adequacy ratio (CET-1) was 18.7% with full implementation of IFRS-9 and no control capital, including deferred tax asset. And the index of non-performing loans is at the level of 1% with 100% provisioning. Given these data, ABBank’s return on equity (ROE) was 16%, which, according to market circles, attracted the attention of investors.

ABBank’s total assets at the end of 2022 were around 1.1 billion euros, more than 100 million euros more than in 2021, and deposits were 1 billion euros compared to 842 million euros in 2021. The loan portfolio of the bank was about 530 million euros. with 84% of them related to the financing of shipping.