Ancoria Bank’s notable growth

20 May, 2020

Ancoria bank recently announced its annual financial results for 2019.

Major news sites like Stockwatch and Philenews, instantly addressed the results and reported  on Ancoria Bank’s notable growth and increase of its share capital.

For the year ended 31 December 2019, Ancoria Bank Ltd has reported:

  • Robust growth of loan book with gross loans reaching €210mln, recording an increase of 78% year-on-year.
  • Strong capital adequacy with Total Capital Ratio (TCR) and Common Equity Tier 1 (CET1) ratio at 19%, comfortably above the regulatory minimum of 15.5% including SREP requirement, which has been reduced to 12.5% as of 31 March 2020.
  • Significant excess liquidity with deposits reaching €225mln, recording an increase of 41% year-on-year and registering a Liquidity Coverage Ratio (LCR) of 344% 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 177% compared to 361% at 31 December 2018.
  • Further to the above, Ancoria Bank has proceeded with the increase of its share capital on 8 April 2020 by an additional €10mln through the issuance and allotment of 20.000 new shares to Ancoria Investments Plc, 100% shareholder of Ancoria Bank.

The strong position of Ancoria Bank in the Cyprus market is evident by the continuous growth it experiences, having established itself as a trusted and effective financial partner to its customers. Dedicated to redefining banking by combining advanced technology with a total commitment to building rewarding relationships with its customers, Ancoria Bank continues its progressive course with prudent lending, proper risk management and a customer centric model.

Read the article by Philenews here and by Stockwatch here.