Demetra Holdings increased investment in Hellenic Bank in first half of 2024

Demetra Holdings increased its investment value in Hellenic Bank (HB) during the first half of 2024, according to the company’s latest investment statement.

The statement showed that by the end of June 2024, the value of the company’s investment in Hellenic Bank had risen to €313.6 million, up from €262.8 million at the end of 2023.

This represents 78.32 per cent of Demetra Holdings’ assets, compared to 75.39 per cent in 2023.

Conversely, the value of Demetra’s investment in Logicom has decreased. The investment in Logicom now stands at 5.74 per cent (€23 million) from 6.47 per cent in 2023.

In the real estate sector, the company had invested €43.46 million, representing 10.88 per cent of its total assets, in land and property development in Cyprus, Romania, and Bulgaria by the end of June 2024.

This is a slight decrease from the corresponding investment of €44.4 million in 2023. The largest portion of the company’s real estate investments is in Cyprus (€31.1 million), followed by Romania (€10.3 million) and Bulgaria (€2.2 million).

Moreover, by the end of June 2024, Demetra Holdings had invested 3.13 per cent of its assets in other projects, down from 3.5 per cent in 2023.

In terms of bank deposits and cash, the company had invested a total of €1.4 million by the end of June 2024, representing 0.36 per cent of its total assets.

At the end of 2023, the company had €844,600 invested in cash, which accounted for 0.24 per cent of its total assets.

The net asset value per share of Demetra Holdings increased to €1.94 from €1.68 in 2023.

The company’s total assets amounted to €400.4 million, up from €348.6 million at the end of December 2023.