Financial Results

Annual financial results
An insight into the Bank’s financial performance

Ancoria Bank Ltd – Audited Financial Results for the year ended 31 December 2023

For the year ended 31 December 2023, Ancoria Bank Ltd («Ancoria Bank») has reported:

  • Profit after tax of €8.3mln compared to €3mln for the year ended 31 December 2022.
  • Loan book stands at €318mln, recording a minor decrease of 4.8% year-on-year.
  • Strong capital adequacy with Total Capital Ratio (TCR) and Common Equity Tier 1 (CET1) ratio at 23.08%, and 20.93% respectively, comfortably above the regulatory minimum of 15.11% including SREP requirement.
  • Substantial excess liquidity with deposits reaching €672mln, recording an increase of 56.4% year-on-year and registering a Liquidity Coverage Ratio (LCR) of 1,542% compared to a minimum requirement of 100%.
  • Asset quality remaining at high levels with Non-Performing Exposures (NPE) ratio based on European Banking Authority’s definition at 1.7%.

Ancoria Bank continued its positive development for another year, remaining focused on its strategic goal of being a reliable financial partner to its customers laying solid foundations for long-term relationships.

Ancoria Bank Ltd, incorporated in Cyprus in 2013, operates as a limited liability company under the Cyprus Companies Law, Cap.113.

30/06/2024

Unaudited

 31/12/2023

Audited

 31/12/2022

Audited

 31/12/2021

Audited

 31/12/2020

Audited

 31/12/2019

Audited

 31/12/2018

Audited

 31/12/2017

Audited
Gross Loans (€mln) 322.2 318.0 334.1 308.0 272.6 210.2 118.0 63.6
Customer Deposits (€mln) 742.9 672.0 429.8 369.2 296.3 224.6 159.6 59.6
Profit after tax (€mln) 4.2 8.3 3.0 1.0 -1.8 -3.2 -5.1 -5.7
Non-Performing Exposures Ratio 1.8% 1.7% 0% 0% 0% 0% 0% 0%
Total Capital Ratio 22.53% 23.08% 19.65% 18% 19% 19% 38% 83%
Liquidity Coverage Ratio 1,957% 1,542% 544% 343% 288% 344% 763% 388%

 

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