Ancoria Bank Ltd – Unaudited Financial Results for the 6-month period ended 30 June 2021
For the 6-month period ended 30 June 2021, Ancoria Bank Ltd («Ancoria Bank») has reported:
- Profit after tax for the first time since launch of operations, observed at €0.3mln compared to €1.0mln loss as at 30 June 2020.
- Significant growth of loan book with gross loans reaching €297mln, recording an increase of 29% 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 €332mln, recording an increase of 27% year-on-year and registering a Liquidity Coverage Ratio (LCR) of 362% 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%.
- Effective cost management with Cost-to-Income ratio constantly falling, observed at 94% compared to 128% as at 30 June 2020.
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.
|Gross Loans (€mln)||296.8||272.6||210.2||118.0||63.6||24.7||–|
|Customer Deposits (€mln)||331.8||296.3||224.6||159.6||59.6||37.5||4.6|
|Profit after tax (€mln)||0.3||-1.8||-3.2||-5.1||-5.7||-5.4||-3.0|
|Non-Performing Exposures Ratio||0%||0%||0%||0%||0%||0%||0%|
|Total Capital Ratio||18%||19%||19%||38%||83%||189%||382%|
|Liquidity Coverage Ratio||362%||288%||344%||763%||388%||431%||982%|
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