Repetitive growing functional profitability presented the Attica Bank In the first quarter of 2025, making forecasts for the 9th consecutive quarter, according to the bank’s results announcement.
Specifically, Attica Bank has improved on all operating lines of the group’s organic sizes, with recurring (predictions) profits of EUR 20.1 million for the first quarter of 2025, which is a new quarter record. This profitability is compared to profits of EUR 8.7 million in the corresponding period of 2024, with an increase of 132% annually, confirming the correctness of the bank’s ambitious business plan.
The results are fully aligned with the goals and strategy of the Bank’s management and lay the foundations for the further development of Attica Bank in the banking market offering a new alternative banking proposal.
The Bank recorded repetitive operating revenue at a group level on a yearly basis of EUR 55.1 million versus EUR 25.3 million in the corresponding comparative period, enhanced both due to the merger and by the notable expansion of work recorded in the first quarter of 2025.
Attica Bank’s loan portfolio was significantly reinforced in the first quarter of 2025, with a net credit expansion standing at 232 million euros, achieving a significantly higher growth rate than the average rate of the industry, with the bank with a market share of approximately 13.7% of its net and the ability to further increase its market penetration with healthy new funding.
The new disbursements amounted to € 671 million with disbursements in small and medium -sized enterprises and individuals holding the largest share. In particular, 53% were channeled to small and medium -sized enterprises and individuals, while 47% to large companies and complex funding.
Attica Bank’s NPE index stood at 2.9% in the first quarter of 2025 against 61.5% during the corresponding period of 2024.
The group’s total deposits amounted to € 6 billion, with the Liquidity Coverage Index (LCR) amounting to 261.2% in March 2025.
An increase of 90% was reported by net recurrent interest revenue in the bank’s informed portfolio (excluding the previous NPE contribution) to EUR 36.8 million, mainly enhanced by the increase in loan balances and during the first quarter of 2025 and by the first quarter of 2025.
Net revenue from fees and supplies increased by 129% and stood at € 7.1 million. The increase was mainly from the significant improvement in the granting of letters of guarantee (+78% on an annual basis) and by approximately € 1.6 million in the supplies of capital management of customers on an annual basis in the context of the Group’s credit expansion and merger.
The Bank Management Management Sector is a strategic priority for the bank, presenting development and this quarter, the result of the confidence that the market has shown in Attica Bank both the market and the international investment firms with whom it works. Managed funds amounted to EUR 800 million, including mutual funds, bonds and bonds, up 6% compared to the previous quarter.
The administration’s emphasis on rationalization of costs and achievement of synergies of the merger continues intensively. Therefore a significant reduction of 11% compared to the previous quarter, recorded repetitive operating expenses of EUR 35 million
This is the result of implementing a “disciplined” approach with targeted investment and emphasis on reducing general management expenses. At the same time, overall spending saving actions (voluntary exit program, merger shops and other transformation actions) have already led to the finalization of synergies of more than 10 million euros, on a annual basis, in a single quarter, having already identified about 1/3 of the total target.
On the occasion of the results of the first quarter of 2025 Attica Bank Managing Director Eleni Brettou noted:
“The particularly positive results of the first quarter confirm the right course of Attica Bank and our strategic plan. The new bank started dynamically the year, achieving or even surpassing all its goals (financial and non -financial). Every quarter, the bank even more established its position by increasing revenue and profitability, as well as market share. I am grateful to all the bank’s staff who achieved these notable results, despite the increasing competition and operating challenges resulting from the integration of the two banks. We are developing our bank while restructuring continues at even more intensive pace. This is yet another proof of our commitment to achieving our functional and economic goals.
In 2025, it is inevitably the year of the bank’s transition and stabilization due to the merger, focusing our actions on faster integration and integration of the two banks, while consolidating our position on the market.
The key priority of the new banking organization remains the successful and rapid completion of the operational merger within the year mainly with the transition of all information systems, so that both the organization and its customers can reap the benefits of merging the two banks as soon as possible. In this context, from the first months of 2025, the voluntary exit program has been completed in parallel with the shops. At the same time, actions have been launched to change corporate identity.
After completing the operational merger later this year, we aspire that the bank will now operate not only under a renewed name and identity, but mainly with a single customer and product approach and culture. We remain committed to the creation of a viable banking body with a human face that will meet the needs of our customers with immediacy and flexibility, actively supporting the Greek economy, investment, entrepreneurship and the ordinary citizen. ”