Ancoria Bank: Profit for the first half of 2021

19 Aug, 2021

For the first time since its launch of operations in 2015, Ancoria Bank recorded profit after tax for the 6-month period ended 30 June 2021. According to the bank’s unaudited financial results, profit after tax of €0.3 million was recorded in comparison with €1 million loss after tax for the same period in the previous year.

For the 6-month period ended 30 June 2021, Ancoria Bank has reported significant growth of its loan book with gross loans reaching €297 million, recording an increase of 29% year-on-year.

In addition, the bank continues to demonstrate 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.

The bank also noted substantial excess liquidity with customer deposits reaching €332 million, recording an increase of 27% year-on-year. The Liquidity Coverage Ratio (LCR) of the bank reached 362%, far exceeding the minimum requirement of 100%.

Moreover, the quality of the loan portfolio remained excellent with the Non-Performing Exposures Ratio (NPE), as defined by the European Banking Authority against total gross loans, at 0%.

Equally effective for the bank, was cost management with the Cost-to-Income ratio continuing its downward trend and standing at 94% compared to 128% that was recorded on 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.