Piraeus posts 7 mln net profit in Q2, NPE stock down for seventh straight quarter

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

Piraeus Bank reversed its first-quarter (Q1) net losses of 7 million to profit of 7 million in Q2, resulting in a break-even bottom-line result in the first half (H1) of 2017.

At the same time, pre-provision income (PPI) improved by 13 percent quarter on quarter (QoQ) to 292 million in Q2, mostly due to other income. Net interest income (NII) and operating expenses stayed broadly flat.

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