After the high losses that were registered in 2004, with the registered activities during the first 9 months of the 2005 fiscal year, equilibrium was attained.

This result was obtained in a context of important reorganisations according to the announced transformation plan:
- The restructuring of the network has been already realised (two large clients operational control centres, 3 regional delegations, 12 groups and their related branches are operational as well as their central support).
- The programme of branches openings and renovations is moving quickly. The simultaneous inauguration of 31 sales points took place on October 13th, 2005. -The first production figures concerning private clients are encouraging. During the first 9 months of 2005, the disposal of mortgage loans amounted to 174 million EUROS, compared to 93 million EUROS for the same period in 2004.
- The market entry of the product Aneta, which provides insurance against the consequences of loss or theft of payment means, ID documents, keys and the fraudulent use of mobile telephones, has surpassed the expected objectives.
- The activities in corporate loans and consumer loans are now under strict control after an important decrease occurred in doubtful debts in 2004. The control that was enforced explains partly the slight increase of these outstanding amounts.

The increase of the capital which occurred successfully in the course of the summer allowed the financial structure of the bank and the solvency ratio to be at 11.34% on September 30th 2005. The total of client deposits (REPOs excluded) reached 2.4 billion EUROS in the end of September 2005, compared to 2 billion EUROS at the end of December 2004. This strong growth (+20%) reflects tax evolutions which rendered REPOs less attractive, a fact that led certain clients to transferring their REPOs to time deposits. The total of clients loans remained stable at 2.2 billion EUROS (+2.8%) with an increase of clients outstanding amounts in Retail compensating for the decrease of outstanding amounts in Corporate loans resulting from the reorganisation of the commercial SMEs enterprises network (creation of regional business centres). The activity of the first 9 months resulted to a Net Banking Income of 129.5 million EUROS, compared to 124.4 million EUROS during the same period in 2004, i.e. an increase by 4%. Expenses have been kept under control (+4.8% in relation to the same period in 2004) despite the high rise of investments and of costs to adapt the control mechanisms for credits and management control, conforming to the procedures of the Societe Generale Group. The evolutions of activities, the exceptional figures and the evolutions in consolidation terms create difficulties in the comparison of the evolution in each location. The net risk costs have decreased significantly after the important credit devaluations, realised in 2004. However, the situation demands great vigilance since the position of certain economic factors could be deteriorated rapidly. The result before taxes is a profit of 5.1 million EUROS for the first 9 months of 2005, compared to a loss of 64.6 million EUROS for the same period in 2004. Hence a positive net result after tax of 2.6 million EUROS is generated, for Geniki Bank. On consolidated basis, the Geniki Group has displayed during the first 9 months of 2005 positive net results of 3.9 million EUROS.