Piraeus records loss of 3.09 bln as aggressive NPE reduction carries impairments

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

Piraeus Bank posted a loss of 3.09 billion euros in the first nine months (9M) of 2021 due to impairments related to the NPE clean-up from loan securitisations and sales and Covid-19.

In Q3 2021, pre-tax losses were 603 million euros, mostly coming from 811 million euros of impairments.

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