In a joint statement released by Alpha and Eurobank on Friday evening, the two banks announced the acquisition of Alpha’s branch network in Bulgaria by Eurobank’s subsidiary in Bulgaria, Postbank.
National Bank (NBG) posted net losses of 159 million euros in the first quarter (Q1) of 2015 from 1.11 billion in Q4 2014, which were entirely due to one-offs.
Alpha Bank reported lower quarter on quarter (QoQ) net losses of 115.8 million euros in the first quarter (Q1) of 2015, from 440.2 million in Q4 2014. The improving bottom-line result mainly reflects lower operating expenses and impairment losses.
Piraeus Bank posted net losses of 69 million euros in the first quarter (Q1) of 2015 significantly lower than those reported in Q4 2014 of 332 million and in Q1 2014 of 247 million.
The Hellenic Financial Stability Fund (HFSF) reported extended losses of 9.92 billion euros last year from 9.61 billion in 2013, according to its 2014 annual report.
National Bank (NBG) posted a net loss of 1.11 billion in the fourth quarter (Q4) of 2014 from profit of 30 million in Q3.
Piraeus Bank reported net losses of 332 million euros the fourth quarter (Q4) of 2014 from 1.56 billion in Q3, which were exceptionally high due to a sharp rise in impairment losses to 2.24 billion.
Alpha Bank posted an increase in net losses to 440.2 million euros in the fourth quarter (Q4) of 2014 from 156.9 million in Q3.
Eurobank posted a net loss of 523.7 million euros in the fourth quarter (Q4) of 2014 from 186.6 million in Q3.
In an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.