Piraeus Bank is set to release its 4Q/FY14 today post market close – estimates

19.03.2015 12:52

Piraeus Bank (Q4/FY 2014 Results):  Piraeus Bank is set to release its 4Q/FY14 today post market close. A cc will follow at 18:00 (GR time). We expect improvements on NII (+0.3% Q-o-Q and +7.4% Y-o-Y) on lower funding costs and effective pricing, lower commissions feew (-4.6% q-o-q) and higher NPL formation following the recent AQR. On our figures we included to loan impairments aprox. 95m additional impairments related to assets and marketable securities. The following table summarizes our estimates:

 

Conference Call (Thu. 19 Mar. 19:00 GR Time):

 

¡  Greek participants (1):    +30 210 94 60 800

¡  Greek participants (2):    +30 211 180 2000

¡  UK participants:               +44 (0) 800 368 1063

¡  USA participants:             +1 866 288 9315

 

Bank of Piraeus Overview
(In Million Euro) 4Q13 3Q14 4Q14 E QoQ YoY
NII 475 509 510 0.3% 7.4%
Fee income 91 87 83 -4.6% -9.1%
Trading 45 -23 -40 73.9% -189.2%
Other Income -25 19 0 -100.0% -100.0%
Total income 586 591 553 -6.4% -5.7%
Operating costs -584 -359 -460 28.1% -21.3%
Pre-provision-profits 2 232 93 -59.9% 5197.1%
Provisions -848 -2,257 -550 -75.6% -35.1%
Other results -24 7 -175 -2600.0% 616.1%
PBT -871 -2,018 -632 -68.7% -27.4%
Corporate taxes 161 460 200 -56.5% 24.4%
Net profit -721 -1,560 -432 -72.3% -40.0%

 

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



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