Eurobank's quarterly profit rises 21.4% to 287 million euros (updated)

Eurobank SA

16/05/2024 16:01

(Adds CEO quote in paragraph 5, details in paragraph 6)
       May 16 (Reuters) - Eurobank  EURBr.AT , Greece's
second-largest lender by market value, on Thursday reported
first-quarter net earnings of 287 million euros ($311.68
million) versus 237 million euros in the January-to-March period
last year.
    Net interest income rose by 13.7% from the first quarter of
2023 to 571 million euros, driven by loans, bonds and
international business.
    Net fee and commission income rose 4.9% to 136 million
euros.
    Eurobank's non-performing loan exposure ratio (NPE) stood at
3.0%, down from 5.1% at the end of March last year.  
    Fokion Karavias CEO of Eurobank said the group had submitted
an official application to the Single Supervisory Mechanism,
which supervises banking in Europe, to pay a dividend.
    "The proposed payout ratio is 30%, which corresponds to a
dividend higher than 9 cents per share," he said in a statement.
        Greek banks, emerging from European supervision after a
10-year economic crisis, need permission for payouts to
investors. 
  
        Total operating income for the first quarter increased
by
  
    21.8% to 755 million euros. The performing loans grew
organically by 0.4 billion euros in January-to-March period and
customer deposits declined by 0.1 billion euros in the same
period amounting to 57.30 billion euros.     
  
        
  
($1 = 0.9208 euros)

 (Reporting by Antonis Triantafyllou in Gdansk; Editing by
Kirsten Donovan and Sharon Singleton)
 ((Antonis.Triantafyllou@thomsonreuters.com;))