• Net profits at €108.2 million – a 50% year-on-year increase
  • Loan balances increased by 48% compared to the corresponding 9 months of 2023, reaching €3.3 billion.
  • Deposits increased to €4.1 billion – up 32% year-on-year
  • Enhanced equity to €588 million.

OR Optima bank announced today its finances results for the 9th month of 2024, confirming once again its successful strategy. The bank’s commitment is to strengthen the Greek economy, providing the liquidity that Greek entrepreneurship needs, alongside the provision of high-quality banking services.

Specifically, the bank’s net profits amounted to €108.2 million, marking a 50% increase compared to the corresponding 9 months of the previous year, while they already exceed the total profits of 2023 (€103 million). Return on Tangible Equity (RoTE) was 26.8%, confirming its leading position Optima bank in the industry, both in terms of returns and in providing value to shareholders.

The high increase in the bank’s profits was based on strong organic growth, both in deposits and loans, even managing to more than double its figures compared to the corresponding period of 2022. In the 9th month of 2024, the bank strengthened Greek businesses by granting new loans amounting to €1.9 billion (increased by 30% compared to the corresponding 9 months of 2023). This resulted in its loan balances increasing by €1.1 billion to €3.3 billion, which equates to a percentage increase of 48% compared to the previous year.

At the same time, deposits reached €4.1 billion, registering an increase of 32% on an annual basis, exceeding €1 billion in absolute terms, in relation to September 2023. The increase was corresponding to the net income from commissions, reaching €29.3 million, 30% higher year-on-year.

It is worth noting that Optima bank, with the operating model it has adopted, is a pioneer in terms of operational efficiency, with the Cost to Core Income ratio appearing reduced to 25% in the 9th month of 2024, from 29 .9% in the corresponding 9 months of 2023. The lowest cost to basic income ratio in Greece and among the lowest in Europe, according to recently published data.

Equity, boosted by profits for the period and the bank’s successful listing on the AXA a year ago, reached €588m, with a capital adequacy ratio of 15.7%, providing security and stability for customers and its shareholders.

In addition, in the broader context of the development of its activities, Optima bank recently added another branch to its network, in Chania, strengthening its presence in the region. In this way, it demonstrates its practical support for local societies and economies. Additionally, within the current year, Optima bank’s new subsidiary, Optima leasing, is expected to start operating, which will further expand the range of business financing solutions provided by the bank.

The president of Optima bank, Mr. Georgios Taniskidis, said: “The results of the 9th month prove that our strategy for a different approach to banking is paying off and our efforts are paying off. It is really remarkable that in the first 9 months of 2024, we beat all the figures of 2023 (profit after tax €108.2 million in the first 9 months of 2024, while profit after tax 2023 €103 million). We are proud that our performance justifies our choices and our commitment to always be next to our customers, individuals and businesses.”

The CEO of Optima bank, Mr. Dimitris Kyparissis, added: “One year after its listing on the ASE, our bank is in its best moment to date and we are announcing impressive financial results. We are on a steady growth path and our performance in all areas strengthens the foundations for the future of our bank. In every success of Optima bank there is the name of each of our executives, and I would like to thank them for the dedication and passion they bring to the everyday life of Optima bank.”