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Sallas exit from Piraeus marks end of era in Greek banking sector
EconomyBankingMichalis Sallas, the non-executive chairman of Piraeus Bank, resigned during a Board of Directors (BoD) meeting on Wednesday afternoon, marking the end of an era in the Greek banking sector.
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Piraeus reports net loss of 37 mln in Q1, records negative NPL formation for first time since 2008
EconomyBankingPiraeus Bank posted a net loss of 37 million euros in the first quarter (Q1) of 2016 from 1.24 billion in the previous quarter, primarily burdened by exceptionally high loan provisions, and 67 million a year ago.
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Piraeus first Greek bank to repay Pillar II bonds, others to follow
EconomyBankingPiraeus Bank said on Thursday that its remaining Pillar II bonds will be redeemed on Friday, which will make it the first Greek bank with zero reliance on any of the three pillars of the capital and liquidity support programme (Law 3723/2008) that was initiated in 2008.
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Piraeus posts 1.24 bln loss in Q4 on jump in loan provisions
EconomyBankingPiraeus became on Wednesday the third Greek bank to report a net loss in Q4 of 2015 after declaring a profit in Q3.
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Piraeus Bank reveals mitigating actions aimed at reducing size of capital increase
EconomyBankingPiraeus Bank revealed on Monday the capital actions that it intends to submit to the ECB’s Single Supervisory Mechanism (SSM) to cover the capital shortfall that resulted from the comprehensive assessment.
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Piraeus Q3 trading update shows significant acceleration in NPL formation
EconomyBankingFollowing a more detailed trading update for the second quarter (Q2) published last week, Piraeus Bank released on Monday a condensed trading update for Q3 outlining the evolution of the key balance sheet items.
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Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer
EconomyBankingFollowing meetings held with the Single Supervisory Mechanism (SSM) of the ECB in Frankfurt on Wednesday and Thursday, media reports indicate that Greek bankers appear more optimistic on the final outcome of the ongoing assessment noting that capital needs could be manageable.
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Piraeus Bank brings Q1 2015 losses down to 69 mln
EconomyBankingPiraeus Bank posted net losses of 69 million euros in the first quarter (Q1) of 2015 significantly lower than those reported in Q4 2014 of 332 million and in Q1 2014 of 247 million.
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Piraeus Bank net losses at 332 mln in Q4 2014, NPLs drop under 39 pct
EconomyBankingPiraeus Bank reported net losses of 332 million euros the fourth quarter (Q4) of 2014 from 1.56 billion in Q3, which were exceptionally high due to a sharp rise in impairment losses to 2.24 billion.
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Piraeus Bank seals milestone deal with KKR over 1.2 bln of non-core assets
EconomyBankingIn an unusual move by the standards of the Greek banking sector, Piraeus Bank has announced an agreement with leading global investment firm KKR for the transfer and securitisation of 1.2 billion of non-core assets to a new structure managed and controlled by KKR Credit and serviced by Piraeus.