Attica Bank S A : 31/12/2023 - Financial Results Presentation

Attica Bank

FY 2023 Results

MARCH 2024

Table of contents

2

1.12M23 Financial Highlights	3
2.	Balance Sheet Analysis	6
3.	Capital	15
4.	NPEs	17
5.	Financial Performance Analysis	20
6.	Transformation Plan	27
7.	ESG	29
8.	Appendix	31
9.	Glossary & Disclaimer	35

1 12M23 Financial Highlights

3	Financial Results FY 2023

12M Performance Highlights - Strong operating recovery on robust volumes

€21.9 mln Recurring PPI

• 83% Recurring Net Interest Income YoY

+58% Net Fee & Commission Income

+93% Total Recurring Revenues €0.7bn new loan disbursements 7.7% market share in net credit flow +13% New customers

251% LCR; 133% NSFR

12.8% CET1

56.9% NPE Ratio

61.3% Reg. NPE coverage

€3.2 bn Group Deposits

FY23 PPI beats target by a wide margin; Q4 2023 PPI at € 10.4m, ie c. 50% of annual PPI, illustrating that the restructuring of the franchise is bearing fruits

Asset side repricing and higher volumes drive NII growth despite higher deposit rates

Robust growth by 19.5% in Q4 2023 on a quarterly basis mainly from business lending, driven by Project Finance & LGs

Strong outperformance with all three revenue lines (NII, fees and trading) contributing positively

Loan disbursements up 84% YoY at €688mln, driven from SMEs (€250mln), Corporate (€253mln) and structured finance (€155mln)

Net credit expansion at €324mln, leading to a strong 7.7% market share in net credit expansion

10.738 New customers added in 2023

Robust liquidity profile; LCR & NSFR ratios well above regulatory threshold; 45% (Net) Loans to deposits ratio

CET1 down 10bps QoQ as a result of increased credit expansion

NPE ratio below the 60% threshold, down by c. 12 percentage point since 2021.

NPE coverage at a robust 61.3%

Strong Deposit Base with balances up by 6% YoY

4

Financial Results FY 2023

5

P&L Group Figures

Amounts in €mln	FY 2023		FY 2022		YoY %		Q4 2023		Q3 2023		QoQ%		Q4 2022		YoY
Net interest income	74.2		40.6		83%		22.4		19.7		14%		11.5		95%
Net fee & commission income	9.0		5.7		58%		3.0		2.5		20%		1.1		180%
Non-core income	10.1		2.0		413%		3.1		2.0		57%		3.6		-13%
Total Recurring Income	93.2		48.3		93%		28.6		24.2		18%		16.1		77%
Total Recurring Operating	-71.3		-86.8		-18%		-18.1		-17.2		6%		-20.4		-11%
Expenses
Recurring Profit / (Loss) bf	21.9		-38.5		157%		10.4	7.0		49%	-4.3		344%
provisions & taxes
Reported Profit / (Loss) bf	27.7		-49.2		156%		13.7		13.5		2%		-14.0		198%
provisions & taxes
Profit / (Loss) before taxes	28.6		-356.6		108%		11.6		13.1		-11%		-324.5		104%

Key P&L ratios	12M 2023	12M 2022	Δ YoY	4Q 2023	3Q 2023	Δ QoQ	Q4 2022	YoY
NIM over average	2.2%	1.2%	+96bps	2.4%	2.2%	+22bps	1.4%	+101bps
assets (bps)
Cost to income ratio recurring	79%	158%	-79%	65%	97%	-32%	66%	-98%

Q4 2023 Group recurring PPI at €10.4mln benefiting from strong core income growth (NII + fees) and good cost control

Key Q4 2023 profitability drivers are NII growth by 14% QoQ, fee growth of 20% QoQ and OpEx rationalization; personnel expenses & G&As remained rather stable based on the Bank's business model, investing in upskilling and stronger infrastructure to drive transformation and growth.

Q4 2023 Reported profit at new record

of €13.7mln, benefiting from aforementioned PPI movements and other one-off gains

On a 12-month basis, recurring PPI reached €21.9mln, with recurring

revenues almost doubling (+93%) and effective cost control that resulted in OpEx dropping by 18% YoY

Financial Results FY 2023

2 Balance Sheet Analysis

6	Financial Results FY 2023

Balance Sheet | NPE clean-up actions in place

7

Cash

PPE & Intangible

Other

DTA

Securities

Net Loans

409

93

223

147

634

2,268

Fully eliminated DTC following DTC Conversion €64mln into equity

Securities:

• HTC €309
• HTCS €180mln
• Trading €146mln

Retail book: 30%

Wholesale & other: 70%

Total Equity

Tier II Bond

Other

Interbank

Funding

Core Deposits

Time Deposits

446

100

74

9

1,244

1,903

Client Deposits represent our main source of funding, constituting 83% of total liabilities and equity.

Individual deposits representing the bulk of deposits, at 64%

Financial Results FY 2023

Loan Book

Loan Book evolution*, Q1 2022 - Q4 2023 (€mln)

1,331

1,142

970	1,009	995	1,012	1,001	1,056

1,171

824	863	849	865	857	912	997

146	146	146	147	144	145	145	160
Q1 2022	Q2 2022	Q3 2022	Q4 2022		Q1 2023	Q2 2023	Q3 2023	Q4 2023
					Retail		Wholesale

Gross Loans breakdown* (€mln)

					1,331
1,012	53	120	13	141
Q4 2022	SME	Large	Retail	Structured	Q4 2023
		Corporate		Finance

8

• Excluding loans of securitized portfolios (Astir 1&2, Omega, Metexelixis)

Financial Results FY 2023

9

Loan Book - Q4 2023

Wholesale Loans Breakdown*, Q4 2023 (€mln)

Structured

Finance

12%

	Large &
SME	other
26%	62%

Retail Loans Breakdown*, Q4 2023 (€mln)

Credit Cards

7%

SB

13%

Consumer

16%Mortgage

64%

* Excluding loans of securitized portfolios (Astir 1&2, Omega, Metexelixis)

Loans * per sector, Q4 2023 (€mln)

	Transfers
Trade	2%	Construction
Tourism 15%		19%
2%
Real estate
1%
Pharmaceutic			Energy
als			19%
2%
Other			F&B
31%			3%
		Health	Financial
	Manufacturing	1%

3%	services
2%

Financial Results FY 2023

Business performance | Credit expansion fuels up in Q4 2023

Net Credit Expansion, Q1 2023 - Q4 2023 (€mln)

New Disbursements, Q1 2023 - Q4 2023(€mln)

-10			59		120			155
	€324mln net credit						12
	expansion, leading to
	7.7% market share in
	net disbursements	6
				7							294
6
					185
				114
65
-72				-56		-65			-144
-8			-7		-6
												-7
	Q1 2023		Q2 2023			Q3 2023	Q4 2023
			Wholesale Disbursements			Retail Disbursements
			Wholesale Repayments			Retail Repayments

70	121	191	306
Total disbursements
in 12M 2023: €688mln, of			12
which: wholesale: €658mln
Retail: €30mln
				6
	7			294
6				185
	114
65
Q1 2023	Q2 2023	Q3 2023	Q4 2023
			Wholesale		Retail

New Disbursements 2023
EUR m
Corporate Finance	503
o/w Large & other	253
o/w SME	250
Structured Finance	155
Total Wholesale	658
Mortgages	16
Consumer	7
SBL	7
Total Retail	30
Total All loans	688

10

Financial Results FY 2023