During Q2.2016, Piraeus Bank Group posted a positive net result that amounted to €20 mn, while its recurring pre-provision income rose by 8% on a quarterly basis to €288 mn, on the back of the rise in net operating income by 5%.
As G.Poulopoulos, Acting CEO of Piraeus Bank Group stated that the stabilization of economic activity in Greece was also reflected in the gradual improvement of liquidity, with deposit inflows during the last 3 months, further easing of capital controls, as well as reinstatement of European Central Bank’s waiver for Greek Government bonds.
«Our disciplined policy of active management of non-performing loans continues to make significant progress with a further reduction of 90 days past due loans by €445 mn on a quarterly basis. During the nine-month period from September 2015, when Piraeus Bank Group’s NPLs peaked, to the end of June 2016, total loans in arrears dropped by €1.6 bn. The Group’s CET-1 capital ratio remained stable at a satisfactory level of 17.5%, among the highest in the European banking sector. As a result of the Q2.2016 financial performance, the Bank remains on course to achieve its 2016 targets and is well-positioned to meet its medium term plans», the Banker highlighted.
Piraeus Bank has joined the united network of branches of Ukrainian banks Power Banking, which will operate and serve clients even with a possible...