30th November, 2017 ANNOUNCEMENT Subject: Financial Results of the Group of Hellenic Bank ...

113 Pages·2017·2.41 MB·English

by  Polyxeni Michaelides

30th November, 2017

ANNOUNCEMENT

Subject: Financial Results of the Group of Hellenic Bank Public Company Ltd
for the nine month period ended 30th September 2017

Hellenic Bank Public Company Ltd (‘‘the Bank’’) announces that, the Board of
Directors of the Bank during its meeting held on 29th November 2017 approved, inter
alia, the Financial Results of the Group of Hellenic Bank for the nine month period
ended 30th September 2017 and, pursuant to the Regulations of the Cyprus Stock
Exchange and Cyprus Securities and Exchange Commission, please find attached
hereto:

(a) the Condensed Consolidated Financial Statements of the Group of Hellenic Bank
for the nine month period ended 30th September 2017,

(b) the relevant Commentary,

(c) the Press Release and

(d) the relevant Financial Results Presentation.

Copies of the Financial Results for the nine month period ended 30th September 2017,
as approved by the Board of Directors, will be available at the Head Office of Hellenic
Bank, Corner Limassol Avenue & 200 Athalassas Avenue, Strovolos, Nicosia (5th
floor – Head Office Accounts Department). The Financial Results will also be
available on the Bank’s website www.hellenicbank.com.

HELLENIC BANK PUBLIC COMPANY LTD

/πμ.pm2017.ltrnov30.2017 announcement to CSE & CYSEC re. Nine month period Financial Results for 2017 - English
HELLENIC BANK GROUP

Condensed Consolidated
Financial Statements

for the nine-month period ended 30 September 2017
HELLENIC BANK GROUP
Condensed Consolidated Financial Statements
for the nine-month period ended 30 September 2017

Contents Page
Condensed Consolidated Income Statement
for the nine-month period ended 30 September 2017 3
Condensed Consolidated Income Statement
for the three-month period 1 July 2017 to 30 September 2017 4
Condensed Consolidated Statement of Comprehensive Income
for the nine-month period ended 30 September 2017 5

Condensed Consolidated Statement of Comprehensive Income
for the three-month period 1 July 2017 to 30 September 2017 6

Condensed Consolidated Statement of Financial Position at 30 September
7
2017
Condensed Consolidated Statement of Changes in Equity
for the nine-month period ended 30 September 2017 8-9
Condensed Consolidated Statement of Cash Flows
for the nine-month period ended 30 September 2017 10
Notes to the Condensed Consolidated Financial Statements 11-50

2
HELLENIC BANK GROUP
Condensed Consolidated Income Statement
for the nine-month period ended 30 September 2017

Nine-month period
ended 30 September
2017 2016
Note €'000 €'000

Turnover 211.697 217.623

Net interest income 99.212 110.721
Net income from fees, commissions, net gains on disposal and
revaluation of foreign currencies and financial instruments and
other income 23 81.821 75.375

Total net income 181.033 186.096
Total expenses 5 (115.703) (107.780)
Profit from ordinary operations before impairment losses
and provisions to cover credit risk 65.330 78.316
Impairment losses and provisions to cover credit risk 6 (85.315) (64.109)
(Loss)/profit before share of results of associate company (19.985) 14.207
Share of results of associate company net of taxation 23 469 --
(Loss)/profit before taxation (19.516) 14.207
Taxation 7 1.736 (9.248)

(Loss)/profit for the period (17.780) 4.959

(Loss)/profit attributable to:

Shareholders of the parent company (18.395) 4.468
Non-controlling interest 615 491

(Loss)/profit for the period (17.780) 4.959

Basic and diluted (loss)/earnings per share (€cent) 8 (9,27) 2,25

3
HELLENIC BANK GROUP
Condensed Consolidated Income Statement
for the three-month period from 1 July 2017 to 30 September 2017

Three-month period from
1 July to 30 September
2017 2016
€'000 €'000

Turnover 61.720 65.463

Net interest income 32.885 35.986
Net income from fees, commissions, net gains on disposal and
revaluation of foreign currencies and financial instruments and
other income 19.651 19.078

Total net income 52.536 55.064
Total expenses (39.031) (35.498)
Profit from ordinary operations before impairment losses
and provisions to cover credit risk 13.505 19.566
Impairment losses and provisions to cover credit risk (7.688) (15.359)
Profit before share of results of associate company 5.817 4.207
Share of results of associate company net of taxation 469 --
Profit before taxation 6.286 4.207
Taxation (1.181) (351)

Profit for the period 5.105 3.856

Profit attributable to:

Shareholders of the parent company 4.988 3.764
Non-controlling interest 117 92

Profit for the period 5.105 3.856

4
HELLENIC BANK GROUP
Condensed Consolidated Statement of Comprehensive Income
for the nine-month period ended 30 September 2017

Nine-month period
ended 30 September
2017 2016
Note €'000 €'000

(Loss)/profit for the period (17.780) 4.959
Other comprehensive income/(expenses)
Items that will not be reclassified in the income statement

Taxation relating to components of other comprehensive
income (39) (31)
(39) (31)
Items that are or may be reclassified subsequently in the
income statement
Surplus on revaluation of investments in equity and debt
securities available for sale 29.961 5.073
Transfer to the income statement on disposal of investments in
equities available for sale -- (12.381)
Amortisation of revaluation of reclassified debt securities
available for sale 17 (74) (582)
29.887 (7.890)
Other comprehensive income/(expenses) for the period net of
taxation 29.848 (7.921)
Total comprehensive income/(expenses) for the period 12.068 (2.962)

Total comprehensive income/(expenses) for the period
attributable to:

Shareholders of the parent company 11.454 (3.500)
Non-controlling interest 614 538
12.068 (2.962)

5
HELLENIC BANK GROUP
Condensed Consolidated Statement of Comprehensive Income
for the three-month period from 1 July 2017 to 30 September 2017

Three-month period
from 1 July to 30
September
2017 2016
€'000 €'000

Profit for the period 5.105 3.856
Other comprehensive income
Items that will not be reclassified in the income statement

Taxation relating to components of other comprehensive
income (19) 28
(19) 28
Items that are or may be reclassified subsequently in the
income statement
Surplus on revaluation of investments in equity and debt
securities available for sale 11.235 2.650
Amortisation of revaluation of reclassified debt securities
available for sale -- (189)
11.235 2.461
Other comprehensive income for the period net of taxation 11.216 2.489
Total comprehensive income for the period 16.321 6.345

Total comprehensive income for the period attributable to:

Shareholders of the parent company 16.198 6.244
Non-controlling interest 123 101
16.321 6.345

6
HELLENIC BANK GROUP
Condensed Consolidated Statement of Financial Position
at 30 September 2017

30 September 31 December
2017 2016
Note €'000 €'000
Assets
Cash and balances with Central Banks 2.068.849 2.083.444
Placements with other banks 444.047 548.902
Loans and advances to customers 9 2.747.553 2.926.033
Debt securities 10 1.046.030 1.149.132
Equity securities & Collective Investment Units 16.743 16.008
Investment in associate company 23 7.280 --
Property, plant and equipment 12 100.966 99.648
Intangible assets 12 32.142 26.526
Tax receivable 186 127
Deferred tax asset 13 10.808 8.465
Other assets 14 214.018 179.319
Total assets 6.688.622 7.037.604

Liabilities

Deposits by banks 112.108 100.652
Customer deposits and other customer accounts 5.732.261 6.111.088
Tax payable 5.476 5.422
Deferred tax liability 13 2.206 1.980
Other liabilities 118.543 111.924
5.970.594 6.331.066

Loan capital 15 139.667 139.667

Equity

Share capital 16 99.237 99.237
Reserves 475.706 464.252

Equity attributable to shareholders of the parent company 574.943 563.489
Non-controlling interest 3.418 3.382

Total equity 578.361 566.871
Total liabilities and equity 6.688.622 7.037.604

Contingent liabilities and commitments 916.033 854.887

Dr E. A. Polykarpou I. A. Matsis L. Papadopoulos L. Kramer
Chairman of the Board of Chief Executive Officer Chairman of the Audit Committee of Chief Financial Officer
Directors the Board

7
HELLENIC BANK GROUP
Condensed Consolidated Statement of Changes in Equity
for the nine-month period ended 30 September 2017

Attributable to shareholders of the parent company

Reduction
of share Share Revaluation
Share capital capital premium Revenue Translation reserve Non-controlling
(Note 16) reserve reserve reserve reserve (Note 17) Total interest Total

€'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000
Balance
1 January 2017 99.237 260.269 515.609 (349.168) 33 37.509 563.489 3.382 566.871
Total comprehensive (expenses)/
income for the period net of
taxation
(Loss)/profit for the period -- -- -- (18.395) -- -- (18.395) 615 (17.780)
Other comprehensive
income/(expenses) -- -- -- -- -- 29.849 29.849 (1) 29.848
Transfer due to disposal of
immovable property -- -- -- 429 -- (429) -- -- --
Transfer of excess depreciation
on revaluation surplus -- -- -- 96 -- (96) -- -- --
-- -- -- (17.870) -- 29.324 11.454 614 12.068

Transactions with shareholders
Dividends by subsidiary -- -- -- -- -- -- -- (578) (578)

30 September 2017 99.237 260.269 515.609 (367.038) 33 66.833 574.943 3.418 578.361

8
HELLENIC BANK GROUP
Condensed Consolidated Statement of Changes in Equity
for the nine-month period ended 30 September 2017

Attributable to shareholders of the parent company

Reduction
of share Share Revaluation
Share capital capital premium Revenue Translation reserve Non-controlling
(Note 16) reserve reserve reserve reserve (Note 17) Total interest Total

€'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000
Balance
1 January 2016 99.217 260.269 515.592 (286.013) 39 50.493 639.597 3.199 642.796
Total comprehensive
income/(expenses) for the period
net of taxation
Profit for the period -- -- -- 4.468 -- -- 4.468 491 4.959
Other comprehensive
(expenses)/income -- -- -- -- -- (7.968) (7.968) 47 (7.921)
Transfer of excess depreciation
on revaluation surplus -- -- -- 219 -- (219) -- -- --
-- -- -- 4.687 -- (8.187) (3.500) 538 (2.962)

30 September 2016 99.217 260.269 515.592 (281.326) 39 42.306 636.097 3.737 639.834

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