Panayiotis Rougalas
Astrobank is currently developing a plan to reward its consistent borrowers by providing relief for those who have mortgage loans worth up to €350,000. In a recent announcement of the bank's financial results for 2022, CEO Aristidis Vourakis revealed that the bank is preparing a "reward plan" for consistent borrowers. The bank is in the final stages of consultations and will be making an official announcement in about 15 days.
Vourakis explained that the plan will work reciprocally: if borrowers pay their installment, they will receive assistance according to the Greek model, which includes freezing the interest rate at one level. The plan will only apply to first home loans, which are current and worth up to €350,000. Vourakis added that the bank has seen no portfolio deterioration due to the rise in interest rates, but they are always proactive.
Astrobank had a successful financial year, posting a profit of €12.2m in 2022, compared to a profit of €3.3m in 2021, with equity reaching €203.7m. The bank's capital adequacy ratio reached 18%, while net income represents a 6.2% return on average equity, compared to 1.7% in 2021. Additionally, the bank's non-performing loans (NPL) decreased to 19.5% in 2022, corresponding to approximately €200 million.
