Optima Bank announced a strong performance with net profits for the nine months of 2023 reaching €73.6 million, compared to €26.8 million in the same period last year and €42.9 million for the entire 2022, all on a adjusted basis.

 Strong performance with 9Μ 2023 net profit of €73.6mn compared to €26.8mn in the same period last year and €42.9mn for the FY 2022 all on a normalized basis. The corresponding ROTE stands at 24.9%.

 Normalized Q3 2023 net profit stood at €29.7mn with ROTE at 26.6%

 Loan balances increased in 2023 by €543 mn, exceeding €2.2bn, +32% y-t-d

 Loans increased on a YoY basis by €826mn or 59%

 Loan disbursements for 2023 already stand at €1.5bn, more than full year 2022

 Deposits rose to €3.1bn, +65% YoY

 Ample liquidity with loans to deposits ratio of 71%, LCR of 226% and NSFR of 130%

 Share Capital Increase of €151m completed with oversubscription at 3.7x, a milestone in the short history of the bank

 Fully loaded CET1 post the SCI stood at 18.80%, well above the total capital requirement of 13.95%

Dimitrios Kyparissis CEO, Optima bank, declared: "The third quarter of 2023 is a milestone quarter for our bank, as we completed a share capital increase of €151mn through an initial public offering and the listing of our shares in the ATHEX in the beginning of October.

This is the result of 4 years’ hard work of establishing Optima bank as a vibrant banking organisation with a clearly defined strategy and the ambition to be a simple, flexible and contemporary bank that offers the best banking experience.

In 2023, we continued to expand our presence in the market, tapping on the healthy fundamentals of the economy and grew our loan book, which in September 2023 stood at €2.2b, 59% higher YoY.

At the same time, we significantly increased our deposits, which now stand at €3.1bn, implying a healthy Loans to Deposits ratio of 71%.

Our underlying 9M net profit stood at €73.6mn, 175% higher YoY with ROTE adjusted for the share capital increase standing at 24.9%. Top line growth continues to be the main driver of the profitability, driven by increased volumes and the favourable interest rate environment. We continue to remain vigilant on our cost base with underlying opex flat quarter on quarter and Cost to Core Income at 26.9%. Post the share capital increase, our CET1 and total capital ratio stand at 18.8%, comfortably ahead of the capital requirement of 13.95%.

We remain committed on executing our strategy to grow our business, maintain high returns, optimize our market presence and stay an exemplary banking operation for the benefit of all stakeholders. Our shareholders, our customers, our employees and th  society at large."