Bank of Greece says NPE ratio up to 45.2 pct, provides more bad loan details
NBG sale of its 75 pct stake in Ethniki Insurance improves capital ratio by more than 100 bps
Bank branches fall in 2016, degree of concentration highest in EU
Alpha Bank posts net profits of 48.1 mln in Q1, Greek NPE formation turns slightly negative on write-offs
Piraeus Bank records net losses of 6 mln in Q1, further reduction in NPE stock
NBG net profits at 5 mln in Q1, NPEs drop for fourth straight quarter
Piraeus Bank’s bottom line turns profitable with 20 mln net profits in Q2
Piraeus Bank turned net losses of 37 million euros in the first quarter (Q1) of 2016 to profits of 20 million in Q2, which include a one-off trading gain of 77 million from the acquisition of Visa Europe from Visa Inc.
Excluding this one-off item, recurring pre-provision income (PPI) improved by 8 percent QoQ to 288 million in Q2 on the back of a 5 percent rebound in core income mitigated by a rise in core expenses by 3 percent.
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