Annual Financial Results
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.
| 30/06/2021 Unaudited | 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) | 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% |
Click on the links below to open our financial results PDFs.
(The link will open in a new browser window)
- Financial Results 2020 (2,571kb)
- Financial Results 2019 (2,394kb)
- Financial Results 2018 (1,679kb)
- Financial Results 2017 (1,314kb)
- Financial Results 2016 (1,329kb)
- Financial Results 2015 (4,616kb)
