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Hellenic Bank announces €365.4m profit in Group financial results 2023

Hellenic Bank has announced €365.4m profit within the Group financial results for the year ending 31 December 2023

An announcement accompanying the results noted, "The remarkable results confirm the progress that has been made on multiple levels, including our transformation into a customer-centric and technologically upgraded bank (…) At the same time, we remain alert to potential risks that could negatively affect the Bank's performance, due to the challenges in the financial and operational environment and the increased geopolitical risk."

According to the results, new lending in 2023 reached €1.2 billion, up 2% year-on-year, marking yet another record year for Hellenic Bank. Financing sectors such as health, education, energy, technology, shipping, hospitality and transport remains a high priority for us, contributing to the competitiveness and productivity of the economy.

Hellenic Bank also underlinds its decisive steps towards digitisation , the further upgrade of its digital channels with the offer of loan products via mobile, as well as the streamlining of the branch network, processes and cost management.

"Confirming our commitment that corporate responsibility, sustainability and green growth are fundamental pillars for the overall operation of Hellenic Bank, the revised ESG Strategy has become an integral part of the Bank's Strategic Plan, incorporating specific objectives at all levels of our operations," the Bank's announcement went on to say.

It also underlined, profit of €365.4 million for the year 2023; a strong Capital Position: Common Equity Tier 1 (CET1) 22.8% and Regulatory Total Capital Ratio 28.4%, well in excess of minimum regulatory requirement, and that the NDE Index excluding NDEs covered by the PPS was 2.5%.

The Bank also noted that 99.7% of new lending after 2018 is serviced, net interest income for the year 2023 of €536.3 million, up 78% year-on-year, and net loan-to-deposit ratio stood at 39.4%, allowing for further business expansion.

Click here to see Hellenic Bank's presentation on their results.

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