The financial stability report published by Bank of Greece (BoG) on Tuesday details the credit risk in Greece’s banking system related to the major challenge of dealing with the stock of Non-Performing Exposures (NPEs).
A major NPL deal moved closer towards realisation yesterday when Piraeus Bank announced that it had entered into a strategic agreement with Intrum for the management of NPLs worth a total of 27 billion euro via a special purpose vehicle.
Piraeus Bank’s first quarter (Q1) results revealed net results from continued operations showing a profit of 14 million euros compared to a net profit of 145 million in Q4 2018. The latest results reflect a fourth continuous quarter of profitability for the bank.
Eurobank recorded net profits of 19.7 million euros in the first quarter (Q1) of 2019, representing a year-on-year (YoY) decline of 42.9 percent versus net profits of 34.5 million euros in Q1 2018.
Alpha Bank reported net profits of 27.5 million euros for the first quarter (Q1) of 2019, improving on the net loss of 1 million euros noted in Q4 2018.
National Bank of Greece (NBG) reported a net profit of 131 million euros from continued operations in the first quarter (Q1) of 2019, gaining on the profits of 8 million euros reported in Q4.
Piraeus Bank’s fourth quarter (Q4) results showed that net profits from continued operations came to 145 million euros from 94 million euros in the third quarter (Q3).
Alpha Bank reported net results as neutral in the fourth quarter (Q4) of 2018 compared to a profit of 41 million euros in the third quarter (Q3) of the year, attributable entirely to profits originating from continued operations.
National Bank of Greece (NBG) reported a net profit of 1 million euros from continued operations for the fourth quarter (Q4) of 2018, declining from profits of 9 million noted in the third quarter (Q3).
Eurobank recorded net profits of 29 million euros in the fourth quarter (Q4) of 2018 from 58.8 million in the previous quarter, representing a quarter-on-quarter (QoQ) decline of 50.7 percent.