BANK OF ATTICA:
Annual Ordinary General Meetings
Today, June 18th 2002, the Annual Ordinary General Meetings of the shareholders of the Bank of Attica have taken place at the "Zappas" Hall of the Aegli- Zappion, Athens.
Addressing the General Meetings, Mr. Constantinos Stamoulis, Chairman and Managing Director of the Bank, referred to the satisfactory results and the important growth of the key figures of the Bank achieved in the operating year 2001, to the related fundamental strategic goals reached and, also, to the keeping dynamical course of the Bank, in the current operating year.
1) In the year 2001, developments concerning results and figures of the Bank were the following;
Profits (prior to taxation) rose to Euro 21.086 thousand, against Euro 20.593 thousand of the respective 12month period of the year 2000, increasing by 2,4%.
This increase is due to the important improvement of the operating results of the Bank, which, before any amounts allocated for provisions and depreciations, reached the sum of Euro 31.975 thousand, against Euro 29.020 thousand of the previous year, i.e. increased by 10,2%.
Net interests collected increased by 40,1% and the commissions by 13%, in relation with the previous year. Income from financial transactions showed a decline of 77,9% in comparison with that of the previous year, due to the known developments in the financial markets.
Results (prior to taxation) in the consolidated balance sheet, including the Attikis Kerdoos Hermes Securities S.A., rose to Euro 19.981 thousand, against Euro 22.903, in the previous year.
Dividend to be distributed is shaped to Euro 0,15, per share.
Assets of the Bank reached the amount of Euro 2.018 million, increased by 64,7%, in relation with the previous year.
Due to Customers
Deposits and Repos rose to Euro 1.527 million, higher by 73,6% in relation with the previous year.
Loans and Credits
Loans and Credits reached the amount of Euro 844,3 million and show a growth of 44.2% against that of the previous operating year.
Piling up provisions are reaching the amount of Euro 15.809 thousand and are made to cover potential doubtful debts.
2) Developments - Prospects
During the past 12-month period, bases for further developing the Bank have been founded, by establishing a efficient financial group.
The dynamic course of the Bank is continuing into the year 2002, as proven by the progress of the key figures up to now, which, in regard with loans, show a growth of 15% and the deposits, 5%.
Parallel to the above:
- The new and modern IT system of the Bank is to be inaugurated on the 28th June, 2002, scoping to support creation and distribution of new products, to allow for launching new nets to promote them, to reduce operating costs, to improve administrating information and, the most important, to contribute to the direct serving of the customer.
- Branches network is enlanging, after setting two new branches up, one at Stavroupolis, Thessaloniki and the other at Alexandroupolis, during the first 5-month period of the year 2002, while next branch, the 53rd, at Xanthi, is under preparation. Relative schedule provides for a total number of 60 branches to be operating by the end of the year.
- Bank's subsidiaries have started working and the results achieved so far are remarkably positive. Particularly, the ATTIKIS LEASING has approved credits for an amount over thw Euro 10 million, the ATTIKI INCVESTMENT has achieved a growth of 0.78% of its share intrinsic value and prepares for listing with the ASE, the ATTIKI AEDAK has launched a new Domestic Assets Management Mutual Fund and the ATTIKIS Kerdoos Hermes Scurities Company has rationalized procedures for reaching positive results.
- Studies are accomplished for making the Bank to be active in the sectors of Factoring, Insurances Management, Venture Capital and Real Estate.