Greece’s systemic banks are continuing tackling several key issues as the summer sets in and against the general tide of a pre-election slowdown.
The Bank of Greece’s (BoG) latest overview of the Greek financial system has shown that the rate of card use among businesses and individuals has steadily increased over recent years.
Piraeus Bank’s closely watched Tier II bond issue was deemed a success after raising 400 million euros on Wednesday. In total, bids of over 850 million euros were submitted.
The financial stability report published by Bank of Greece (BoG) on Tuesday details the credit risk in Greece’s banking system related to the major challenge of dealing with the stock of Non-Performing Exposures (NPEs).
A major NPL deal moved closer towards realisation yesterday when Piraeus Bank announced that it had entered into a strategic agreement with Intrum for the management of NPLs worth a total of 27 billion euro via a special purpose vehicle.
Piraeus Bank’s first quarter (Q1) results revealed net results from continued operations showing a profit of 14 million euros compared to a net profit of 145 million in Q4 2018. The latest results reflect a fourth continuous quarter of profitability for the bank.
Eurobank recorded net profits of 19.7 million euros in the first quarter (Q1) of 2019, representing a year-on-year (YoY) decline of 42.9 percent versus net profits of 34.5 million euros in Q1 2018.
Alpha Bank reported net profits of 27.5 million euros for the first quarter (Q1) of 2019, improving on the net loss of 1 million euros noted in Q4 2018.
National Bank of Greece (NBG) reported a net profit of 131 million euros from continued operations in the first quarter (Q1) of 2019, gaining on the profits of 8 million euros reported in Q4.
Piraeus Bank’s fourth quarter (Q4) results showed that net profits from continued operations came to 145 million euros from 94 million euros in the third quarter (Q3).