Alpha Bank posts net profits of 48.1 mln in Q1, Greek NPE formation turns slightly negative on write-offs
Alpha Bank concluded the release of Greek banks’ first quarter (Q1) results, remaining profitable for the third successive quarter with net profits more than doubling.
Piraeus Bank trimmed its net losses to 6 million euros in the first quarter (Q1) of 2017 from 12 million in the previous quarter.
The National Bank of Greece (NBG) posted net profits of 5 million euros in the first quarter (Q1) of 2017, compared to 73 million in the previous quarter.
Eurobank's Q1 results reported net profits of 36.5 million euros, slightly lower than the Q4 2016 figure of 38.3 million.
Greek banks met their non-performing exposure (NPE) and non-performing loan (NPL) reduction targets in the fourth quarter (Q4) of 2016, the second quarterly report on operational targets for NPEs published by the Bank of Greece (BoG) revealed on Wednesday afternoon.
Piraeus Bank concluded the release of Greek banks’ fourth quarter (Q4) results on Friday evening by announcing that it posted net losses of 17.7 million euros in Q4 from profits of 30.6 million in the previous quarter.
National Bank of Greece (NBG) remained profitable in the fourth quarter (Q4) of 2016, with net profits of 73 million euros from 6 million in the previous quarter.
Alpha Bank remained profitable for the second straight quarter in Q4 2016, with net profits of 20.1 million euros from 41.1 million in the previous quarter.
Eurobank recorded net profits of 38.3 million euros in the fourth quarter (Q4) of 2016 from 85.4 million in the previous quarter, which included a one-off gain of 55 million from the disposal of its insurance unit, Eurolife ERB.
In an interview with Skai TV on Wednesday, the head of the Single Supervisory Mechanism (SSM) Daniele Nouy confirmed that the first two months of the year were “a little bit disappointing” regarding both the deposit flow and the evolution of non-performing exposures (NPEs) of Greek banks.