Optima Bank announces its financial results for the 1st quarter of 2024, reporting a profit of €32.7 million, up 78% compared to the corresponding quarter of 2023. As a result of the increased profits, the return on tangible equity (RoTE) reaches 25.4%, by far the highest in Greece and one of the highest in Europe.

Earnings per share reach €0.44, showing a significant increase of 78% compared to the same quarter last year. It is worth noting that the cost-to-core income ratio for Q1 2024 decreased to 26% (compared to 35% in Q1 2023), demonstrating the bank's high operating efficiency.

At the same time, new loan disbursements for the quarter amounted to €642 million, the highest quarterly disbursement amount in the bank's history. This resulted in loan balances increasing by 49% year-on-year, reaching €2.8 billion.

Similarly, deposits exceeded €3.3 billion, up 40% year-on-year, demonstrating the strengthened confidence of customers. As a result, net interest income (NII) amounted to €44.5 million, up 63% year-on-year and higher than in the previous quarter. In addition, a 44% increase was also achieved in net commissions, reaching €9.8 million.

It is recalled that a dividend distribution of €0.44 per share will be proposed at the bank's general meeting to be held on May 23.

Optima Bank's chairman, Georgios Taniskidis (pictured), said, "Our bank's first financial results for 2024 prove once again that our choices generate real value for our customers, the economy, and our shareholders. Our ambitions do not stop here. We are working relentlessly for even better results. I feel confident that with our exceptional human resources and a deep belief in our vision to be a benchmark bank for the entire industry, we will make these ambitions a reality."

Optima Bank CEO Dimitris Kyparissis said, "We feel proud of the Q1 financial results we announced today. Our profitability, as well as all individual figures and indicators, express the continued momentum of our organization as well as its qualitative excellence. We remain optimistic and committed to our commitment to delivering the best banking experience to our customers, goodwill to our shareholders, and a modern work environment for our employees."