In Touch | March 2023
Hellenic Bank
A leading bank in Cyprus, and your most reliable partner. For banking with a personal, human touch and respect
The first issue of our new monthly newsletter is here and we can’t wait for you to check it out!
Our Linkedin newsletter?#InTouch , brings our new projects, team member insights and achievements to the forefront.
We look forward to keeping in touch with you.
Project Starlight completed
Project Starlight, related to the sale of the majority of our non-performing exposures (NPE) portfolio and the simultaneous sale of APS Debt Servicing Cyprus Ltd, has been completed.??
This achievement significantly derisks the Bank’s balance sheet by drastically reducing its NPE ratio, excluding the NPEs covered by the Asset Protection Scheme (APS), to a pro forma ratio of c. 3.6%. Furthermore, the transaction has a positive capital impact of c. 0.8%, with the pro forma CET 1 ratio rising to 19.1% from 18.3% on December 2022.
Oliver Gatzke: Striking the right balance
Insights from our CEO on the challenges of leading a systemic bank in an interesting conversation with Gold Magazine’s journalist. As Oliver Gatzke mentioned, Hellenic Bank has evolved over the past few years and continues transforming to become a customer-centric organisation, through digitalisation, the streamlining of procedures and offering competitive products and tailor-made solutions.
Hellenic Bank announced €24.2 million profit for 2022
Despite the challenges caused by the war in Ukraine and the inflationary pressures, we managed to deliver a good set of financial results with a profit of €24.2 million for 2022. “This exceeds our expectations and confirms the good progress in implementing our transformation towards a client centric and technology driven bank”, said Oliver Gatzke, CEO. Adjusted for the Voluntary Early Exit Scheme’s extraordinary cost, Hellenic Bank achieved a profit of €95.0 million which reflects the strength of its business model in a positive interest rate environment, following the latest rate increases by the European Central Bank. New lending during 2022 reached €1.2 billion, up 30% YoY, marking another record year for Hellenic Bank.
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Hellenic Bank issues €200 mil Tier 2 Subordinated Notes
Hellenic Bank successfully priced a new €200 mil Tier 2 Subordinated Notes under our EMTN Programme. The Notes attracted significant interest from the investor community, with international investors representing c. 90% of the demand. The total orderbook exceeded €875 mil, almost 4.5 times oversubscribed, and included orders from 135 different institutional investors. The high participation from investors demonstrated confidence in the Bank and reaffirmed the market’s appetite for the Bank’s creditworthiness.
Building strong teams
“One of the main factors of our success is our continuous efforts to build strong teams, recognising and selecting the right talents - both within the bank and from the labour market - to fill in certain positions”, explained the head of Human Resources, George Christodoulides in an interview with IN Business magazine.?
As he pointed out, one of the many challenges we had as an organisation in 2022 was the continuous recruitment of specialised teams, such as the technology unit since this area is one of the most important for the successful completion of our transformation plan.
Long-term investment in tourism, focusing on Sustainable Development
We recognise the importance of the tourism industry and have been investing in the sector. Hellenic Bank sponsored the STEK Annual Tourism Conference titled "Tourism: The path to sustainable development" and as the Chief Banking Officer, Phivos Stasopoulos stated, growth can only be green. "Sustainable development is part of our strategy. We adopt sustainable operating practices, finance "green" businesses and participate in green initiatives. The goal of our strategy is to integrate environmental awareness at all levels aiming to minimise our environmental footprint, both internally and for our customers," he said, while Andreas Papadopoulos, Head of the SME unit said that ESG enters the taxonomy of the EU, which has set serious targets for reducing emissions through the well-known Fit-for-55 package and the Green Deal.
Interesting Fact
96% of cash withdrawals are executed through our ATM network. The remaining 4% are carried out at branch tellers.
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Social Media Assistant at G.M. Pierides Gift & Accessories
1 年KIND REGARDS! In God we trust!
Social Media Assistant at G.M. Pierides Gift & Accessories
1 年We always support and thank, the Hellenic Bank, standing with us! Blessings & Greetings! We just ask, with kindness, about the following: 1. Some people don't want to be involved with Cyberthreats, so they prefer Banking in person, living interacting, NOT online! 2. If you go to the Bank Branch, and the person who cleans, tell you loudly not to get in, because 7 people, are already in, although, you only waited kindly, OUTSIDE, without trying to get in, you feel embarrassed, waiting for an apology! 3. As George Pierides, I am Cyber Protection enthusiastic, and willing to expand my relevant Cybersecurity knowledge, through a FREE PUBLIC SCHOLARSHIP, to share it, with my Country's Public & Private Sector, whoever is interested, for the benefit of ALL the people! #HAPPY #EASTER! George #Michalaki #Pierides #Temporary, Half- #Occupied #Cyprus
Lawyer at law firm
1 年Indeed.Banking is like chemistry. The balance of success of the Bank and humanitarian factor is the achievement you desire. I am looking forward for becoming better. Never stop. Congrats.