Piraeus Bank reports 2 bln NII in 2023, income from fees at 547 mln
Sale of Alpha, NBG stakes move state's bank divestment forward as realised losses near 12 bln
Eurobank's NII climbs by 55.3 pct to 1.6 bln in 9M
NBG's NII rises by 73 pct to 1.64 bln in 9M
Piraeus Bank posts 721 mln profit in 9M, NII up to 1.47 bln
Alpha Bank NII jumps by 46 pct YoY in 9M, reaching 1.34 bln
Alpha-UniCredit deal marks step change in developments for banking sector
The developments in the Greek banking sector moved up a gear on Monday with the announcement of a strategic partnership between Alpha Bank and Italy’s Unicredit, a deal that includes the Romanian business of the two parties, the sale of the Greek lender’s insurance and the prospect of UniCredit acquiring the 9 pct stake in Alpha held by HFSF.
As we had noted at the end of September, the Greek banking sector story had been building positive momentum over a period of months. Systemic lenders had shed most loans off their books via securitisations and sales of NPEs, and the ECB policy framework...
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