ELA elimination in March 2019
- Increase of deposits: 17.6% compared to 31.03.2018
- Net Loans/Deposits Ratio amounted to 68.7% marginally decreased to 31.12.2018 and significantly lower compared to 31.03.2018 (107.9%)
- Reduction of total operating expenses by 24.4% compared to the comparative period
- NPE coverage ratio: 32.96%
- Overall Capital Ratio: 15.5%
With regard to the Q1 2019 financial results and figures of Attica Bank, the Management of the Bank made the following statement: The return to profitability for Attica Bank in the first quarter of 2019 is a confirmation of the ongoing effort of the Bank for transformation. The constant decrease in operating cost has offset the lower revenues over the first quarter. The Group continued to improve its liquidity as deposits’ balances showed significantly improvement compared to the first quarter of 2018. The significant increase in deposits led to the elimination of ELA in March 2019. The improvement of the Bank’s liquidity reflects the complete restoration of customer’s confidence in the Group.
Attica Bank Group with a strong capital base, enhanced liquidity and balance sheet restoration, will continue to work so as to improve its profitability and to strengthen real economy in favor of its customers and shareholders”.