Astrobank: €39,4 million Profit for the year and 23,7% Capital Adequacy Ratio
Τρίτη, 23 Απριλίου 2024 17:45> Profit after tax before one-off costs at €39,4 million for the year 2023
> Profit after tax at €30,4 million compared with €12,2 million in 2022
> Significant organic capital generation; Total Capitalratio at 23,7% and 22,1% CET1 ratio
> Successful issuance of €34 million new MREL bondsin 2023; MREL ratio at 27,8%
> NPEs to loans reduced to 14,9% from 19,8% end of 2022, exclusively through organic reduction
> Cost to Income ratio reduced to 52,3% from68,2% in 2022
> Return on Equity of 13,9% in 2023 vs. 6,2% in 2022
Aristidis Vourakis, AstroBank’s Chief Executive Officer Statement: “2023 has been a remarkable year for AstroBank. The systematic efforts during the last years, towards a focused business model, streamlined operations, and reshaping and derisking of our balance sheet, together with the favourable interest rate and macroeconomic environment, have supported delivering a strong financial performance. The decisive management actions underpinned the transformation of the Bank into a strong and well capitalised banking institution, capable to deliver value to its customers and its shareholders. With regulatory capital of almost 24%, extensive presence across Cyprus and an updated digital offering, AstroBank stands to play a pivotal role,serving Cyprus entities and individual customers. AstroBank has reported strong profitability for the year 2023 with Profit After Tax of €39,4million excluding oneoff costs (€30,4 million net profit after tax). Shareholders’ Equity reached €234,1 million, while total capital adequacy ratio significantly strengthened to 23,7% through organic capital generation. We remain committed to our Business Plan, which over the last years has resulted in substantial operational efficiencies, quality customerservice and improved profitability.”