Athens Exchange

Piraeus Bank grows Q2 profit as bad debt provisions fall

Piraeus Bank grew second quarter net profit as provisions for impaired loans decreased, Greece's largest lender by assets said on Friday.

Piraeus Bank, which is 26.2 percent owned by the country's HFSF bank rescue fund, reported a net profit from continued operations of 20 million euros ($22.29 million) after net earnings of 14 million in the first quarter.

National, Alpha’s Q1 results show rise in profits, efforts to clear NPLs

National and Alpha, two of Greece's top banks, alongside Piraeus and Eurobank, continued their bid to rid themselves of their bad loans, half-year results revealed on Thursday. Both banks' efforts to repair their balance sheets resulted in significantly improved profits.

ATHEX: Stock market losses contained

Anticipation of positive feedback from Fitch in its report on Greece, expected late on Friday, and the advance of Greek bonds helped contain the stock drop at Athinon Avenue at the end of the week, compared to significant retreats on other eurozone markets.
The Athens Exchange (ATHEX) general index ended at 885.11 points, shedding 1.11 percent from Wednesday's 895.04 points.

ATHEX: Banks carry index closer to 900 points

Banks led the way on Monday at Athinon Avenue, where trade was notably slower due to it being the start of the traditional summer holiday season, while the election frenzy that started on May 27 appears to have subsided. The benchmark edged nearer the 900-point landmark, but the majority of stocks ended up on the losing side.