- Group Profit (after tax) : euro 19,8 million
- Increase in Total Equity
- Upsurge in the Group activity
Group Assets increased by 14,61% and reached euro 3.889.486 thousand compared to euro 3.393.642 thousand in December 2005.
Loans and Advances to Customers before Provisions increased by 14,45% amounting at euro 2.816.201 thousand at 31/12/2006, compared to euro 2.460.586 thousand at 31/12/2005.
Customers'' Deposits and Related Obligations to Customers increased by 6,54% and reached euro 2.829.634 thousand as opposed to euro 2.656.051 thousand in the previous year. The Index for Loans and Advances to Customers before Provisions for Customers'' Deposits and Related Obligations shapes at 99,53% (versus 92,64% at December 2005).
Total Equity at Group Level amounted at euro 271.530 thousand at 31/12/2006 compared to euro 249.403 thousand at 31/12/2005, an increase of 8,87%. Net Commissions marked a significant increase by 23,32% during 2006 and reached euro 42.321 thousand versus euro 34.319 thousand in the previous year. Trading Income increased too and amounted at euro 9.148 thousand versus euro 5.408 thousand in the previous year (69,16% increase).
Due to the Loans increase as well as increases in placements under improved spread there was a 21,67% increase in Interest Income, which amounted at euro 204.383 thousand compared to euro 167.981 thousand in 2005.
Due to the increase in Deposits and the rise in the European Central Bank rate, the Interest Expenses were increased and reached euro 100.946 thousand in 2006 versus euro 72.661 thousand in 2005 (38,93% increase).
Net Interest Income amounted at euro 103.437 thousand versus euro 95.320 thousand (8,52% growth).
Operating Income amounted at euro 158.941 thousand, marking a 13,04% increase, compared to euro 140.611 thousand in the previous year.
Due to the Branch Network growth (16 new Branches, of which 7 in Romania), Staff Costs increased (due to the Branch Network growth there was a staff increase of 3,49%) and so did General Operating Expenses, incrementally burdened by increased promotion and advertising costs and the expansion of Group activities.
As a result General Operating Expenses at Group Level reached euro 113.701 thousand (versus euro 98.484 thousand, 15,45% growth). Depreciations increased by 18,85% (euro 8.777 thousand on 31/12/2006 versus euro 7.385 thousand on 31/12/2005), whereas Provisions and Impairments increased by 29,70% and reached euro 19.675 thousand versus euro 15.170 thousand at December 2005.
Group Profits before tax, provisions and Impairments amounted at euro 45.242 thousand at 31/12/2006 compared to euro 42.119 thousand in 2005. Profits after tax increased and reached euro 19.829 thousand (versus euro 18.571 thousand in 2005), whereas Profits after tax and Minority Rights for the financial year 2006 reached euro 18.382 thousand (versus euro 18.085 thousand in the previous year).
EGNATIA BANK declares dividend to its shareholders of euro 0,05 per share.