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HB Records Profit After Tax of €320M

April 25, 2019

Hellenic Bank has released its financial results for the year 2018 which record profit after tax of €320.0 million and a successful share capital raise of €150 million.

According to Yannis Matsis, CEO of Hellenic Bank, “The acquisition of CCB business established Hellenic Bank as the leading retail and SME bank in Cyprus whilst simultaneously de-risking our balance sheet and business model. The profitability and resulting capital position safeguards our depositors and creates shareholder value. The significantly improved capital position, especially after the successful €150 million share capital raise, supports the faster implementation of our strategic plans and enables us to fully focus on our mission: To provide an exceptional service to our customers through safeguarding their deposits and supporting the financing needs of the local households and businesses. I am particularly pleased that the strategic steps and the corrective actions we have been taking over the last few quarters and especially in 2018 started yielding evident results.”

 

Continue reading at source:  Gold News Cyprus