Insider Business Capitalisation value of banks a big challenge

Capitalisation value of banks a big challenge

Banks in Cyprus are in the process of raising capital and distance themselves from the lows recorded in the previous months.

After the announcement of financial results for the first quarter of 2019 by Bank of Cyprus and those of 2018 by Hellenic Bank, they now have to convince investors of the prospects. And a big part of the strategy is the deleveraging and reduction of existing non-performing loans.

Hellenic Bank appears to be the winner since its stock market value has grown after a recent capital increase and introduction of new shares. Before the increase, its capitalisation value on the Cyprus Stock Exchange was approximately €145 million and now stands at €362 million. The total number of new shares is 412,805,076.

Bank of Cyprus’ current capital value on the CSE stands at €598.80 million and has an overall number of shares of 446,199,933. Its stock market value has gradually suffered great reductions. In 2018, it stood at €740 million and at €1.15 billion in 2017. The big bet for Bank of Cyprus is for red loans to be reduced to €2 billion by taking various actions.

Greek banks in Cyprus have recorded better performances, especially Eurobank which is ranked first in the Athens Stock Exchange with a capitalisation value of €2.76 billion. Alpha Bank is second with about 50% difference at €1.89 billion.

The National Bank of Greece which was once at the top of banking capitalisation value in the Athens Stock Exchange is only a breath away with a value of €1.81 billion. Piraeus Bank is the smallest in capitalisation value on ATHEX. However, it has escaped from the previous year’s low of €400 million. Today its capitalisation value stands at €720 million.

 

Read  more:

https://in-cyprus.com/%ce%b5u-commission-approves-aid-to-finance-the-orderly-market-exit-of-ccb/

 

Top Stories

Fourteen new corona virus cases detected out of 3,387 tests

According to the Epidemiological Surveillance Unit of the Ministry of Health 14 new cases of the SARS-CoV-II virus were detected out of a total...

Steps taken for the reduction of nuisance in cities

Measures are being taken by police to alleviate the phenomenon of public nuisance caused during the night hours in the cities. In addition to daily...

Remdesivir quantities in Cyprus – fight against Covid-19 intensified

Health Minister Konstantinos Ioannou said that Cyprus has received quantities of the medicine Remdesivir, strengthening its arsenal in the fight against the corona virus. In...

Three people wanted for shoplifting in Paphos

A store owner in Paphos made a formal complaint to police on Thursday claiming that three people - two men and a woman who...

Archaeologists find 1800-year-old entrance to historic Zerzevan castle in eastern Turkey

The 1800-year-old entrance to historic Zerzevan Castle, which is on the UNESCO World Heritage Tentative List has been unearthed by archaeologists in eastern Turkey. Excavations...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...