Piraeus bank announced losses of 1.238bn following conservative NPL policy

09.03.2016 18:10

 

Piraeus bank announced losses of 1.238bn following conservative NPL policy to account for remaining AQR impairments while mark to market valuation in marketable securities and impairment assets of burdened bottom line with another €290m. 

The following table summarise results vs our estimates:

 

Bank of Piraeus           Overview  
(In Million Euro) 4Q14 3Q15 4Q15 Α* QoQ YoY 4Q15 E vs Est.
NII 513 478 463 -3,2% -9,7% 477 -2,9%
Fee income 87 73 79 7,5% -9,2% 73 7,8%
Trading -39 37 46 26,0% 218,2%
Other Income -1 52 16 -69,4% 1330,8% 30  
Total income 559 641 604 -5,7% 8,1% 580 4,1%
Operating costs -448 -373 -488 -30,7% -8,9% -500 2,4%
Pre-provision-profits 111 268 116 -56,6% 4,8% 80 45,1%
Provisions -519 -276 -1.384 -401,1% -166,7% -1.600 13,5%
Other results -179 6 -262 -4174,7% -46,4% -100 -162,0%
PBT -593 38 -1.530 -4167,4% -157,9% -1.620 5,6%
Corporate taxes 254 444 290 -34,6% 14,2% -470 161,7%
Net profit (continued) -339 483 -1.240 -350,1% -256,3% -1.150 -5,1%
Discontinued operations 7 20 31    
Net profit -332 503 -1.271
Minorities -7 0 -2
Attributable net profit -325 503 -1.238

 

*Figures not directly comparable due to the exclusion of Egyptian subsidiary in 4Q 2015 figures.

 

In order to participate in the teleconference, please use one of the following telephone numbers (Wed. 09/03 18:00 GR time):

 

  • Greek participants:               +30 210 94 60 800   or  +30 211 180 2000
  • UK participants:                  +44 (0) 800 368 1063
  • USA participants:                 +1 516 447 5632

Μanos Chatzidakis

Head of research

Beta Securities S.A.

29 Alexandras Ave.

GR – 11473

Athens, Greece

*Τα όσα αναγράφονται στη στήλη είναι προιόν δημοσιογραφικής έρευνας και δεν αποτελούν προτροπή αγοράς, πώλησης ή διακράτησης μετοχών



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