Greek Postal Savings Bank continues at a fast pace its transformation into a Bank focusing in Retail Banking.
More Specifically: During the first half of 2006 were about 1 billion new loans granted from which 58% concerned new mortgage loans and 42% concerned consuming loans and credit cards. This represents about a 33% increase of outstanding loans from 31st December 2005.
Profits before taxes during the first half of 2006 reached approximately 103 mil Euro and after tax profits came in at approximately 80 mil Euro, which represent 0,57 Euro earnings per share versus 0,24 Euro for the First Half of 2005
There were very concrete steps taken in critical sectors, such as Information Technology. The Integrated IT System will be concluded by the beginning of October and will be instrumental in improving the efficiency of the Greek Postal Savings Bank
Despite that market conditions remain extremely competitive, the Greek Postal Savings Bank, aided by the efforts of its people, will achieve its goal, as it has been set by the Management during the bank s IPO to the Athens Exchange, in a shorter time frame than anticipated, especially by increasing its market share as well as Loans to Deposits to 80%.
The analytical press release commenting the First Half 2006 Financial results are in the web site http://www.ttbank.gr

Download the First half 2006 Financial Results