Hellenic Bank reports impressive profit surge of €160.2 million

Hellenic Bank had a really good financial run in the first half of 2023. They made a profit of €160.2 million, which is a huge jump of 203% compared to last year at the same time. One of the main reasons for this boost was that they earned more money from the interest on loans and investments because interest rates went up a bit. They also managed to spend less money, which helped.

Their boss, Antonis Rouvas, said this growth happened because they earned more and spent less. In the second quarter of 2023, they made €90.5 million, which is more than they made in the previous three months. And they earned €127.3 million from interest during that time, which is 18% more than before.

Hellenic Bank is also in a good financial position with enough money to cover its needs. Rouvas also mentioned that they issued some notes and are aiming to improve their credit rating to make it easier to get money from the market.

They also did something called Project Starlight, which helped them get rid of risky loans and improve their financial health. They also want to be more environmentally friendly and support sustainable changes.

Rouvas thanked his colleagues for working hard and said they're all focused on helping customers and making the bank better.

[Information sourced from CNA]