SOURCE: ATEbank

ATEbank

May 26, 2011 12:12 ET

ATEbank First Quarter 2011 Financial Results

ATHENS, GREECE--(Marketwire - May 26, 2011) - ATEbank (ATHEX: ATE), First Quarter 2011 Financial Results.

Increase of pre provision profit

Restructuring Plan & impending Capital Increase strengthen ATEbank's financial position

  • Approval by the European Commission of the Restructuring Plan that ATEbank has been implementing since Jan 2010.
  • Guaranteed Share Capital Increase of EUR 1,259.5 mn strengthens the Group's capital adequacy.
  • Rise of Pre Provision Profit by 67.7% on a yearly basis and 48.0% on a quarterly basis.
  • Increase of Total Income by 9.4% on a yearly basis and 2.9% on a quarterly basis.
  • Significant decrease of operating expenses by 9.3% y-o-y and 12.8% q-o-q. Improvement of Cost/Income ratio (Mar' 11: 62.8% vs. Mar' 10: 75.8%).
  • Reduction of ECB funding (Mar' 11: EUR 6.9 bn vs. Dec' 10: EUR 8.3 bn).
  • Improvement of loans/deposits ratio (101.0%).

ATEbank First Quarter 2011 Financial Results Press Release:
(Please click on the link below to view full press release)

First Quarter 2011 Financial Results Press Release

ATEbank Restructuring Plan Presentation Main Elements:
(Please click on the link below to view Presentation)

ATEbank Restructuring Plan Presentation Main Elements

ATEbank First Quarter 2011 Financial Results Presentation:
(Please click on the link below to view 1Q 2011 Results Presentation)

First Quarter 2011 Financial Results Presentation

About ATEbank
ATEbank
is a diversified financial institution of high reputation, active in banking, insurance, leasing, asset management and mutual funds, and a dynamic player in the Greek financial sector, with a market share of about 8.5% in loans and deposits at the end of 2010.
ATEbank intends to take full advantage of its extensive and well-diversified branch network -- second in Greece with 483 branches and 945 ATMs -- which combined with its loyal and low-cost depositor base, provides it with a competitive advantage. Retail lending represents almost half of the loan portfolio, while loans to primary agriculture are lower than 10%. The Bank has a loyal customer base both in urban and rural areas (c.2 million deposit clients and c.450,000 loan clients) and also possesses a strong institutional client base (c.180,000 salaried employees and c.340,000 pensioners).

Contact Information

  • Investor Relations Contact
    Panos Skoularikis
    Head of Strategic Planning, Analysis & Investor Relations
    ATEbank
    23, Panepistimiou str.
    105 64, Athens, Greece
    Tel: + 30 210 3298742 / 210 3298032
    investorrelations@ate.gr / pskoularikis@ate.gr