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Piraeus Bank head sees profitable year in 'hundreds of millions'
May 26, 2016 / 8:42 AM / 2 years ago

Piraeus Bank head sees profitable year in 'hundreds of millions'

ATHENS, May 26 (Reuters) - Piraeus Bank, Greece’s biggest lender by assets, expects to return to profit this year with a considerable decline in its non-performing loans, chairman Michael Sallas told reporters.

“(We anticipate) Several hundreds of million in profitability this year, based on current data, and there will be a considerable decline in NPLs,” Sallas said on the sidelines of the Bank’s annual general meeting in Athens.

The bank had on Wednesday reported a loss of 37 million euros in the first quarter of 2016, sharply lower than a net loss of 1.24 billion in the last quarter of 2015. (Reporting By George Georgiopoulos)

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