trending Market Intelligence /marketintelligence/en/news-insights/trending/G1r0drKNJjP_lG8-mK00UA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Piraeus Bank slips back to Q4'16 loss as impairments grow

Blog

Latin American and Caribbean Market Considerations Blog Series: Focus on LGD

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing


Piraeus Bank slips back to Q4'16 loss as impairments grow

Piraeus Bank SA posted a fourth-quarter 2016 net loss attributable to shareholders from continuing operations of €18 million, compared to a profit of €31 million in the previous quarter.

Net interest income for the quarter came in at €453 million, compared to €455 million in the third quarter. Net fee and commission income increased quarter over quarter to €91 million from €82 million.

The bank recorded fourth-quarter 2016 impairment losses on loans of €310 million, widening from €210 million in the previous quarter. The bank's pre-provision income for the fourth quarter of 2016 decreased quarter over quarter to €227 million from €253 million.

The bank reported a full-year 2016 net loss attributable to shareholders from continuing operations of €4 million, compared to a loss of €1.86 billion in 2015. Net interest income for 2016 amounted to €1.81 billion, compared to €1.88 billion in 2015, while net fee and commission income increased to €326 million from €306 million.

The bank recorded full-year 2016 impairment losses on loans of €1.02 billion, compared to €3.49 billion in the previous year.

At 2016-end, the group coverage ratio of loans in arrears over 90 days by cumulative provisions increased to 69.5% from 67.5% at the end of September 2016 and 65.0% at 2015-end. Some 37.5% of the bank's loans were in arrears over 90 days, but the group noted that it had reduced bad loans by a total of €2.5 billion over the course of 2016.

Nonperforming exposures, a European metric that includes some restructured loans, amounted to 52.0% of the total loan book at year-end.

At the end of December 2016, the bank's phased-in and fully loaded common equity Tier 1 ratios were 17.0% and 16.2%, respectively.