Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions

EconomyBanking Tags: Banking, Piraeus
Photo by MacroPolis
Photo by MacroPolis

Piraeus became on Wednesday the third Greek bank to report a net loss in Q4 of 2015 after declaring a profit in Q3.

More specifically, Piraeus said its losses came to 1.24 billion euros in the final quarter of last year compared to profits of 502.3 million in Q3. Q4 results were burdened by a jump in loan impairments to 1.38 billion from 243.5 million in Q3 and a not...

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