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☆ Greece's National Bank attracts strong demand in 20% stake sale - source
▼ + stars: | 2023-11-15 | by ( Lefteris Papadimas | ) www.reuters.com time to read: +2 min

"Demand covered 6.2 times the shares offered," the source involved in the process said on condition of anonymity. On Monday, HFSF concluded the sale of a 9% stake in Alpha Bank to UniCredit and announced plans to sell a 20% stake in NBG. The value of the 20% stake is estimated at about 1 billion euros ($1.09 billion). HFSF currently holds a 40.4% stake in NBG and a 27% holding in Piraeus Bank, (BOPr.AT), Greece's third-largest lender. A source told Reuters on Monday that out of the 20% stake in NBG, 17% would be offered to funds and 3% to retail investors.

Persons: Alkis, HFSF, Greece's, JP Morgan, Goldman Sachs, Morgan Stanley, Lefteris Papadimas, Louise Heavens, Sharon Singleton Organizations: National Bank, REUTERS, Rights, Greece's National Bank, Reuters, P Global, Alpha Bank, Piraeus Bank, UBS, Thomson Locations: Athens, Greece, UniCredit, NBG

☆ Greece starts process to sell 20% stake in National Bank
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

People walk outside the National Bank of Greece headquarters in Athens, Greece, January 17, 2022. REUTERS/Louiza Vradi/File photo Acquire Licensing RightsATHENS, Nov 13 (Reuters) - Greece on Monday announced plans to sell a 20% stake in National Bank of Greece (NBG) after concluding the sale of a 9% stake in Alpha Bank to UniCredit as it looks to divest from the country's lenders. It currently holds a 40.4% stake in NBG and a 27% stake in Piraeus Bank (BOPr.AT), Greece's third largest lender. NBG's shares were down about 1% at 5.39 euros at 1012 GMT on Monday, with the 20% stake valued at about one billion euros ($1.07 billion). Earlier on Monday, HFSF said it sold its 9% stake in Alpha Bank (ACBr.AT) to UniCredit for 293.5 million euros after an improved bid from the Italian bank.

Persons: Louiza, HFSF, Lefteris Papadimas, Jason Neely Organizations: National Bank of, REUTERS, Rights, Monday, National Bank of Greece, Alpha Bank, Hellenic, Stability, Piraeus Bank, Reuters, Global, Thomson Locations: National Bank of Greece, Athens, Greece, UniCredit, NBG

☆ Disgruntled Europeans hit out at banks for not passing on higher rates on savings
▼ + stars: | 2023-08-31 | by ( Silvia Amaro | ) www.cnbc.com time to read: +6 min

Those words from Marco Oliveira, a 50-year-old graphic designer from Portugal, underscore a deep lying annoyance in Europe with people bemoaning a lack of return on their savings despite surging interest rates. This, in practice, should translate into higher rates both on mortgages, but also on deposits. The key metric used by analysts is the deposit delta — which represents the increase in policy rates that banks pass through to the interest rates on deposits. For instance, Croatia's deposit delta is 12%, Cyprus is 30% and Portugal stands at 32%. And indeed, Portuguese banks show one of the lowest deposit delta, being the fifth worst in Europe," Teixeira said.

Persons: Marco Oliveira, Carlos Stilianopoulos, Marta Ferro Teixeira, Teixeira, Nicolas Charnay, Filipe Garcia, Banks, Garcia Organizations: Bank SA, Bloomberg, Getty, CNBC, European Central Bank, ECB, ABN Amro, ABN AMRO, P Global, P, SA, Reuters Locations: Thessaloniki, Greece, Portugal, Europe, Cyprus, France, Italy, Portuguese, Barcelona, Spain, PNL, —

☆ Piraeus bank Q2 profit up on higher net interest income
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

ATHENS, July 31 (Reuters) - Piraeus Bank (BOPr.AT), Greece's third-largest lender by market value, on Monday reported higher net earnings for the second quarter from the same period last year on a rise in net interest income. The government sees growth at 2.3% this year, from 5.9% in 2022, on higher consumer spending, strong tourism and investment. Piraeus Bank, 40% owned by the country's HFSF bank rescue fund, reported net earnings of 120 million euros ($132 million) from 92 million euros in the same quarter last year. Net interest income reached 461 million euros from 266 million euros a year ago, it said. The group's non-performing loan exposure ratio (NPE) improved to 5.5% of its total loan portfolio from 9.3% in the second quarter of 2022.

Persons: Lefteris, Mark Potter Organizations: Piraeus Bank, Thomson Locations: ATHENS, Piraeus

☆ Piraeus Bank posts higher Q1 profit on strong net interest income
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

ATHENS, May 5 (Reuters) - Piraeus Bank (BOPr.AT), Greece's third-largest lender by market value, reported higher quarterly net earnings on Friday on strong net interest income. The bank, which is 27% owned by the country's HFSF bank rescue fund, reported net earnings of 180 million euros ($198.7 million) in the first three months of the year, compared with a profit of 170 million euros in the last quarter of 2022. Net interest income in the first quarter rose to 420 million euros from 407 million euros in the fourth quarter, benefiting from the favorable interest rate environment. The bank lifted its earnings per share target to about 0.55 euros this year from a previous estimate of 0.45 euros. Piraeus CEO Christos Megalou said in a press release that the bank had also upgraded its target for return over tangible book to 12%.

☆ Piraeus Bank reports higher Q4 profit on strong net interest income
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: 1 min

ATHENS, Feb 24 (Reuters) - Piraeus Bank (BOPr.AT), Greece's fourth-largest lender by market value, reported on Friday strong net earnings in the last quarter of 2022 on higher fees and net interest income. The bank, which is 27 percent owned by the country's HFSF bank rescue fund, reported net earnings of 170 million euros, after a profit of 116 million euros in the third quarter last year. Reporting by Lefteris Papadimas Editing by Karolina TagarisOur Standards: The Thomson Reuters Trust Principles.

☆ Piraeus Bank to reduce bad loan exposure ratio to below 6% in 2023
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

ATHENS, Jan 30 (Reuters) - Piraeus Bank (BOPr.AT), Greece's fourth-largest lender by market value, said on Monday that it will cut its non-performing exposures (NPEs) ratio to below 6% of its loan portfolio in 2023. Under a business plan for 2022-2025, unveiled last year, Piraeus aimed to decrease its NPEs ratio to 3.0% by 2025 and possibly start paying out dividends from 2024 onwards. The bank targets earnings per share above 0.45 euros ($0.48) this year, up from estimated earnings per share of 0.27 euros for 2022. Piraeus, which is 27% owned by the country’s HFSF bank rescue fund, said it expects a cost-to-income ratio of below 42% this year. It aims to reduce the ratio to below 40% by the end of 2025.

☆ Piraeus Bank swings to 9-month profit, ups full-year guidance
▼ + stars: | 2022-11-11 | by ( George Georgiopoulos | ) www.reuters.com time to read: +2 min

The bank reported net earnings of 729 million euros ($746.86 million) after a loss of 3.085 billion euros in the nine-month period in 2021. Net earnings in the third quarter grew to 116 million euros from 92 million in the second quarter. Piraeus Bank generated 0.28 euros of earnings per share in the nine-month period and expects to outperform its previous 0.35 euro full-year 2022 guidance, he said. Its performing-loans portfolio expanded by 800 million euros in the third quarter and by 2.3 billion in the nine-month period, topping a revised annual target of 2.0 billion euros. Likewise, net fee income rose 12% year-on-year in the nine-month period thanks to new loan originations and bancassurance.

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