Large profits for Hellenic Bank in 2023

Cyprus' Hellenic Bank reported a substantial profit of 365.4 million euros in 2023, marking a significant upswing from €21.8 million in 2022.

Return on tangible equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022. The bank's total new lending for the year amounted to €1.204 billion, with €219 million dedicated to green loans, constituting 18% of total new lending.

In the capital arena, Hellenic Bank exceeded regulatory requirements, boasting total capital and common equity Tier 1 (CET 1) ratios of 25% and 19.5%, respectively. Adjusted capital ratios stood at 28.4% and 22.8%, further highlighting the bank's robust financial position.

Net interest income for 2023 surged to €536.3 million, a notable 78% increase from €300.9 million in 2022. The bank's net interest margin for the same period rose to 2.75%, driven by increased...