Τ BANK Α.Τ.Ε.
Corporate Presentation at the Association of Greek Institutional Investors
On the occasion of the publication of its annual financial statements and as part of its effort to update investors, ASPIS BANK held a
corporate presentation at the premises of the Association of Greek Institutional Investors.
The Bank was represented by Michael Papparis, General Manager, Evangelos Stathopoulos, CFO, and George Rigakos, Head of Banking & Institutional Relations, Brokerage.
The presentation focused on the analysis of the full year 2006 results, the actions taken by the Management of the Bank with the aim to implement its main strategic targets and the prospects for the years 2007-2008.
While presenting full year 2006 results, the General Manager Mr Michael Papparis underlined that the profitability of the Bank was high for a second consecutive year amounting to ?12.3 million (profit after tax and minority interest), a direct outcome of the Management''''s adherence to the main pillars of its strategy ie, strengthening of the Bank''''s presence in the Greek banking sector, improvement in operating productivity and efficiency, and further enhancement of the already high capital adequacy. Referring to the recent corporate developments, Mr M. Papparis focused on the acquisition of 51% of the shares of FBB-First Business Bank, which was signed in February of this year, analyzing the multiple benefits of the said transaction and the time-schedule for its completion.
During the analysis of YE 2006 results, it was noted that enhanced profitability was the result of growth in all sectors of activity of the Group, in parallel with successful cost containment efforts. The strong contribution of core banking activities, i.e. retail and corporate banking, to bottom line results, reflected in a 26% increase of total core banking net profit, was highlighted. The contribution of continuous cost containment efforts was also analyzed, as reflected in a 4% reduction in operating expenses, and leading to the improvement of the efficiency ratio, which fell to 76.7%.
The corporate presentation of the Bank is available on its website: www.aspisbank.gr and on www.ase.gr.
The Bank was represented by Michael Papparis, General Manager, Evangelos Stathopoulos, CFO, and George Rigakos, Head of Banking & Institutional Relations, Brokerage.
The presentation focused on the analysis of the full year 2006 results, the actions taken by the Management of the Bank with the aim to implement its main strategic targets and the prospects for the years 2007-2008.
While presenting full year 2006 results, the General Manager Mr Michael Papparis underlined that the profitability of the Bank was high for a second consecutive year amounting to ?12.3 million (profit after tax and minority interest), a direct outcome of the Management''''s adherence to the main pillars of its strategy ie, strengthening of the Bank''''s presence in the Greek banking sector, improvement in operating productivity and efficiency, and further enhancement of the already high capital adequacy. Referring to the recent corporate developments, Mr M. Papparis focused on the acquisition of 51% of the shares of FBB-First Business Bank, which was signed in February of this year, analyzing the multiple benefits of the said transaction and the time-schedule for its completion.
During the analysis of YE 2006 results, it was noted that enhanced profitability was the result of growth in all sectors of activity of the Group, in parallel with successful cost containment efforts. The strong contribution of core banking activities, i.e. retail and corporate banking, to bottom line results, reflected in a 26% increase of total core banking net profit, was highlighted. The contribution of continuous cost containment efforts was also analyzed, as reflected in a 4% reduction in operating expenses, and leading to the improvement of the efficiency ratio, which fell to 76.7%.
The corporate presentation of the Bank is available on its website: www.aspisbank.gr and on www.ase.gr.