EuroBic profits to more than quintuple to 40 million euros by 2022

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EuroBic has booked a net profit of 40.3 million euros in 2022, a figure more than five times higher than the 7.5 million euros recorded the previous year, the bank said in a statement.

“The net result for 2022 amounts to 40.3 million euros, which compares very positively with the previous year’s result of 7.5 million euros,” said the institution, which reported that it had “succeeded in 2022 in improving its business activity indicators, recording a 2% increase in sales, which reached 12.180 million euros.”

EuroBic justified this positive development by “a 1.8% growth in loans and advances to customers, which reached 5,666 million euros” and by “a 2.2% increase in customer funds, which reached 6,234 million euros”.

According to the institution, its activity last year was “essentially oriented towards the development of financial solutions to support businesses and entrepreneurs”, highlighting “the financing available in the portfolio of institutional measures to support economic activity”, notably “through protocol and economic support credit lines”.

The bank also indicated that it continued to “support families in their structural investments, notably with loans for home purchases”, adding that its balance sheet reflected “the activity carried out by the commercial network”.

“Customer renewal capacity was particularly strong, with the attraction of new business relationships up 21.3% on 2021,” the institution noted.

EuroBic revealed that it “maintained a solid position in terms of liquidity and capital, with the CET1 ratio reaching 14.7% (in EuroBic’s case, made up of 100% equity), exceeding regulatory requirements”.

On the other hand, its non-performing loans ratio fell to 3.5% in gross terms and 0.8% in net terms.

According to data disclosed in the same note, in 2022 EuroBic reduced the number of employees by 1.8%, to 1,439.

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