HB Records Profit After Tax of €320M
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.”