Piraeus eyes major NPE deal as banks remain focused on bad loans
Alpha Bank and Eurobank start new year with further bad loan sales
Piraeus Bank posts net profit of 94 mln in Q3 and 40 mln in 9M
NBG net profits decline to 8 mln in Q3, NPLs continue to fall
Alpha Bank profits at 41 mln in Q3, reach 53.3 mln in 9M
BoG highlights areas of concern in underlying NPE data
Piraeus Bank net losses at 332 mln in Q4 2014, NPLs drop under 39 pct
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.
At the end of 2014, that bank realised 88 percent of the targeted cost synergies and 100 percent of funding synergies related to the acquisition of 5 banks (ATEbank, 3 Cypriot banks’ operations in Greece and Millennium Bank) over the past two years.
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