Attica Bank Achieves Record Profit in Q1 2025

Attica Bank reported a remarkable increase in operational presence during the first quarter of 2025, achieving pre-provisions for the 9th consecutive quarter, according to the bank’s results announcement. Specifically, Attica Bank showed improvements across all operational lines of its organic growth metrics, with recurring profits (pre-provisions) reaching €20.1 million for Q1 2025—a new quarterly record. This profit compares to €8.7 million in the same period in 2024, marking a 132% annual increase and confirming the effectiveness of the bank’s ambitious business plan. The results are fully aligned with the bank’s goals and strategy, laying the foundation for further growth by offering a new alternative banking proposition. The bank recorded recurring operating income at the group level of €55.1 million annually versus €25.3 million in the comparative period, boosted both by the merger and the notable expansion of operations recorded in Q1 2025. The loan portfolio of Attica Bank significantly strengthened during Q1 2025, with net credit expansion forming €232 million, achieving a significantly higher growth rate compared to the industry average. The bank holds approximately 13.7% market share of total net credit expansion, demonstrating its potential to further penetrate the market with healthy new financing. New disbursements reached €671 million, with loans to SMEs and individuals accounting for the largest share. The NPE ratio improved to 2.9% in Q1 2025 from 61.5% in the corresponding period in 2024. Total deposits amounted to €6 billion, with the liquidity coverage ratio (LCR) reaching 261.2% in March 2025. Net recurring interest income increased by 90%, amounting to €36.8 million, primarily due to higher loan balances during Q1 2025. Net fee and commission income rose by 129% to €7.1 million. Wealth Management remains a strategic priority for the bank, showing growth this quarter, reflecting trust from the market and international investment firms. Assets under management reached €800 million, marking a 6% increase from the previous quarter. General operating expenses decreased by 11% to €35 million, thanks to targeted investments and emphasis on cost containment. Efforts to reduce costs have already resulted in synergies exceeding €10 million annually within one quarter, identifying about one-third of the total target set for merger synergies over three years.