Financial Results

Annual financial results
An insight into the Bank’s financial performance

Ancoria Bank Ltd – Audited Financial Results for the year ended 31 December 2021

For the year ended 31 December 2021, Ancoria Bank Ltd («Ancoria Bank») has reported:

  • Profit after tax for the first time since launch of operations, observed at €1mln compared to €1.75mln loss for the year ended 31 December 2020 (as restated).
  • Significant growth of loan book with gross loans reaching €308mln, recording an increase of 13% year-on-year.
  • Strong capital adequacy with Total Capital Ratio (TCR) and Common Equity Tier 1 (CET1) ratio at 18%, comfortably above the regulatory minimum of 15% including SREP requirement.
  • Substantial excess liquidity with deposits reaching €369mln, recording an increase of 24.6% year-on-year and registering a Liquidity Coverage Ratio (LCR) of 343% compared to a minimum requirement of 100%.
  • Exceptional asset quality with Non-Performing Exposures (NPE) ratio based on European Banking Authority’s definition at 0%.

Despite the difficult market conditions that emerged from the pandemic, Ancoria Bank continued its positive growth, remaining focused on its strategic goal of being a reliable financial partner to its customers laying solid foundations for a long-term relationship.

Ancoria Bank continues its progressive course by redefining banking through the constant development of technology while focusing on the customers’ needs and suggesting a unique banking model where digital and physical service harmoniously coexist.

Ancoria Bank Ltd is incorporated in Cyprus as of 2013 as a limited liability company under the Cyprus Companies Law, Cap.113.

30/06/2022

Unaudited

 31/12/2021

Audited

 31/12/2020

Audited

 31/12/2019

Audited

 31/12/2018

Audited

 31/12/2017

Audited

 31/12/2016

Audited

 31/12/2015

Audited
Gross Loans (€mln) 324.7 308.0 272.6 210.2 118.0 63.6 24.7 –
Customer Deposits (€mln) 414.6 369.2 296.3 224.6 159.6 59.6 37.5 4.6
Profit after tax (€mln) 0.5 1.0 -1.8 -3.2 -5.1 -5.7 -5.4 -3.0
Non-Performing Exposures Ratio 0% 0% 0% 0% 0% 0% 0% 0%
Total Capital Ratio 17,46% 18% 19% 19% 38% 83% 189% 382%
Liquidity Coverage Ratio 564% 343% 288% 344% 763% 388% 431% 982%

 

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