ATEbank is one of the leading financial institutions in Greece with a market share of 10% in terms of assets and deposits and 9% in terms of loans.

ATEbank is at the head of a dynamic, diversified group of financial companies active in banking, insurance, leasing, asset management, mutual funds and credit cards.

History

The Agricultural Bank of Greece was established in 1929. Until 1991, it operated as a specialized credit institution, charged by the Greek State with the mission of supporting the development of the country' s agricultural sector. The wider farming and agri-business sector is still one of the Bank's major areas of activity, both in terms of banking services and the provision of specialized operations, such as the prompt distribution of EU and national aid and subsidies to the sector.

In 1991, the Bank became a Societé Anonyme and in 2000 it was listed in the Athens Stock Exchange.

The large-scale recapitalisation in 2005, the wide-ranging restructuring of its loans portfolio, the successful implementation of the Panotokia law, the inclusion of the Bank's share in the FTSE/Athex 20 Index pertaining to large capitalization companies, and the recent revamping of its name and corporate image as ATEbank, confirm the Bank's position as one of the country's leading financial sector players.

In 2006 ATEbank has expanded its activities in the Balkans with the purchase of 57% of ?indbank in Romania and the 20% of AIKbanka in Serbia.

The new name, ATEbank, and new corporate image symbolize the passage of the Agricultural Bank to a new era as an institution serving the banking needs of all residents and businesses in Greece, by combining the provision of modern, competitive financial products and services with social responsibility.

Strategy

Today, ATEbank's scope of operations covers the entire spectrum of financial products and services offered to individuals and companies.

Based on its strong capital structure, efficient management, customer-centered business approach and transparency of operations, and competitive products, ATEbank intends to strengthen its position in the Greek banking market and gradually grow in the Balkan region.

ATEbank intends to take full advantage of its extensive and well-diversified branch network---second in Greece with 466 branches and 770 ATMs---which, combined with its sticky and low-cost depositor base, gives a competitive advantage to grow its operations. Currently the Bank has approximately 1.8 million depositor clients and 350,000 loan clients.

Emphasis is today on the higher return areas of retail banking and SMEs, in which ATEbank gradually gains market share. By the first half of 2006, consumer lending and mortgages account for 32% of the loan portfolio, while corporate and SME account for 28%. Agricultural lending is now 18% of the portfolio and the remaining 22% are loans to public sector entities. In addition, ATEbank puts emphasis on cross-selling by creating "bundles" of financial products (for example loans, credit cards, insurance and leasing) appealing to various categories of clients, such as SMEs and payroll clients.

Having invested heavily in the transformation of its entire distribution network, the Bank has introduced a new operational model, which has transformed every branch into an efficient sales and service center, with the aim of fully satisfying the requirements of specific customer groups. ATEbank is investing in staff training and incentive schemes with particular emphasis on sales promotion, marketing and customer service.

Its size and long history guarantee the development of long-term, mutually beneficial relations with its customers and high returns for its shareholders.

Key Numbers

as of 30 June 2006
Total assets - €20,250m
Gross customer loans - €13,100m
Customer deposits - €17,331m
Shareholders equity - €1,114m
Loans / Deposit ratio - 75.6%
Tier I capital ratio - 12.2%


as of 30 June 2006 Return on equity - 14.7%
Return on assets - 0.85%
Net interest margin - 3.15%
Cost/income ratio - 62.8%
Provision coverage - 85.7%