Hellenic Bank announced a €45 million profit for the first quarter of 2025, noting a “strong start” to the year, according to a press release issued Thursday.

Now part of the Eurobank Group, the bank reported that profits for the three-month period ending March 31, 2025, amounted to €45 million.

Commenting on the financial results, Chief Executive Officer Michalis Louis said the bank delivered “satisfactory financial results for the first quarter of 2025, demonstrating the resilience of our business model and the successful execution of our strategic priorities.”

Louis noted that the €45 million profit figure accounts for the one-off cost associated with the voluntary exit scheme.

“As a result of strong profitability combined with effective management of the Bank’s risk-weighted assets, the pro forma Total Capital Adequacy Ratio rose by 408 basis points, reaching 36.28%. Liquidity remains at high levels, with the Liquidity Coverage Ratio standing at 493%,” he added.

Louis emphasized that “2025 has started on a strong note for Hellenic Bank,” pointing to a solid balance sheet and a Non-Performing Exposure (NPE) ratio of 2.4%, excluding NPEs covered under the Asset Protection Scheme (APS), as evidence of prudent risk management.

New lending reached €404 million, representing a 94% increase year-on-year. “This reaffirms our commitment to supporting the domestic economy and meeting the needs of our clients,” Louis stated.

Following the successful completion of its mandatory takeover bid, Eurobank Group has raised its stake in Hellenic Bank to approximately 98% and is now proceeding to secure full ownership.

“As part of the Eurobank Group, we are focused on integrating Hellenic Bank with Eurobank Cyprus, enhancing customer experience, supporting economic growth, and delivering value to our clients,” Louis said. He also confirmed that the acquisition of CNP Cyprus Insurance Holdings has been completed.

“These developments mark key milestones in our ambition to become one of the leading financial services institutions in Cyprus,” he concluded.