IRF.L Regulatory News (IRF)

6 Mar 2007 13:50

IRF European Fin Investments Ltd 06 March 2007 IRF European Finance Investments Ltd6 March 2007 IRF European Finance Investments Limited ('IRF' or 'the Company') Proton Bank's 2006 financial results The Company is pleased to announce that Proton Investment Bank S.A. ('ProtonBank'), in which the Company owns a 20.16 per cent. interest, yesterday reportedoperating results for its financial year ending 31 December 2006. Due to the recent merger between Proton Bank with Omega Bank S.A. and ProtonSecurities S.A., Proton Bank's 2006 figures are not directly comparable withthose for 2005. However, the performance indicators are favourable given thenon-consolidated and consolidated figures reported exhibit an upward trend. A copy of Proton's press release is attached. About IRF IRF was formed to invest in the financial services industry throughout Europewith a primary focus on credit institutions and insurance companies in SouthEastern Europe. IRF's current strategy is the acquisition of financialinstitutions having valuations which do not reflect their potential and wheremarketing and operational efficiencies are possible. IRF owns a 20.16 per cent.interest in Proton Bank. About Proton Bank Proton Bank is a full service financial services institution, including retailand investment banking as well as the provision of specialized corporateadvisory and investment services. Proton Bank is listed on the Athens StockExchange. PRESS RELEASE Proton Bank's 2006 Financial Results Consolidated net profit after tax €34.014 Dividend per share €0.28 The financial figures and the income statement confirm Proton Bank's constanttrend to achieve high growth rates. The growth strategy and profitable courseare also boosted by the completion of the merger by absorption of Omega Bank.Proton Bank keeps moving forward with a fast pace toward dynamic but rationaldevelopment and expansion. 2006 FIGURES AT A GLANCE (All amounts are expressed in thousands, except "net profit per share" and "dividend per share" As of 31 December 2006, the consolidated turnover amounted to €87.955 (2005:€35.368), where the relevant non-consolidated figure reached €77.202 (2005:€24.399). The consolidated profit before tax amounted to €39.246 (2005: €24.668), whilethe consolidated profit after tax rose to €34.014 (2005: €22.062). The parent company profit before tax amounted to €37.530 (2005: €22.862), whilethe non-consolidated profit after tax rose to €32.651 (2005: €20.819). Net profit per share is calculated at €0.72 (2005: €0.48) where the relevantnon-consolidated figure stands at €0.69 (2005: €0.46). Balance sheet items "Loans and advances to customers, net of provisions" and "Due to customers" totalled €947.338 and €1.064.599, with "Total Assets" reaching€1.577.986. The BIS tier I ratio and BIS total capital adequacy ratio for 2006 areestimated at 16,74% and 15,99% respectively. It is worth noting, that any 2006 figures are not directly comparable with thoseof 2005 due to the recent merger between Proton Bank with Omega Bank and ProtonSecurities. In general, however, performance indicators are particularlysatisfactory since all the non-consolidated and consolidated figures exhibit anupward trend. 2006 DIVIDEND In the recent meeting, on March 5th, 2007, the Board of Directors decided topropose a dividend of €0.28 to be approved by the Annual General Meeting of theShareholders. This information is provided by RNS The company news service from the London Stock Exchange