Hellenic Bank sees profits grow

Hellenic Bank reported a profit of 284.4 million euros for the first nine months of 2024, up from €240.7 million in the same period last year. Return on tangible equity on an annualized basis reached 23.7%, from 26.6% in 2023. Net interest income increased by 20% year-over-year, totaling €455.6 million, driven largely by higher interest rates on deposits with central banks and debt securities.

The bank, now a member of the Eurobank Group following Eurobank's recent investment, anticipates further expansion. "A new chapter is being opened," said Group Managing Director Michael Louis, highlighting a focus on strengthening customer relationships, modernization, and digital transition.

Non-interest income for the period reached €98.1 million, up 15% from €85.4 million in 2023, bolstered primarily by foreign exchange and financial instrument earnings, though royalty and...