Piraeus bank Q2 profit up on higher net interest income (updated)

Piraeus Bank SA

31/07/2023 16:03

(Adds details)
       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.
    Greek banks are benefiting as the country's economy rebounds
from a decade-long debt crisis and the COVID-19 pandemic. The
government sees growth at 2.3% this year, from 5.9% in 2022, on
higher consumer spending, strong tourism and investment.
    Greek banks hope to pay out dividends in 2024 for the first
time since 2010, when the country's debt crisis erupted.
    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.
    ($1 = 0.9071 euros)

 (Reporting by Lefteris Papadimas
Editing by Mark Potter)
 ((renee.maltezou@thomsonreuters.com; +30 210 3376439; Reuters
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