ATB Continues Strong Quarterly Performance with Net Banking Income of €93.205 Million
The ATB has maintained its strong quarterly performance, posting a net banking income (PNB) of €93.205 million for the third quarter of 2024. This represents a 4.7% year-over-year increase. However, the performance would have been even better if the revenue from the commercial and investment portfolio had not decreased by 27.8% to €18.947 million. This decline is not a cause for concern, as these revenues are dependent on the periodicity of coupon payments, although the bank has reduced its portfolio to €961.140 million.
Interest Margin and Net Commissions on the Rise
The interest margin has increased by 19.1% to €53.355 million, while net commissions have risen by 16.1% to €20.903 million.
Year-to-Date Performance
Since the beginning of the year, the PNB has reached €275.494 million, representing a 7.5% year-over-year increase. The bank has managed to control its operating expenses, which have only increased by 3.5% to €174.834 million. The commercial activity of the ATB has enabled the credit outstanding to reach €5.399 billion.
Focus on Asset Quality
The bank is seeking sustainable growth. After being penalized twice in recent years due to risk costs, it is now crucial to focus on asset quality. Ultimately, profitability has nothing to do with the size of the credit outstanding, and examples abound. Moreover, deposits can be costly if they are not invested in profitable projects. The market will be watching the ATB's results closely, and management has a golden opportunity to convince stakeholders of the viability of its new strategy.
