removal of the expensive borrowing of ELA (This Mechanism of Liquidity)- and the release of liquidity to the economy, from reduced forecasts, but, because of the power and the dynamics of the same of Greek banks.
At a glance, the results of the first quarter of the four systemic banks this year is any indication, especially when compared with an extremely difficult fourth quarter of 2015, but with a difficult first quarter 2015.
This certified and in their messages, the administrations of the banks National, Piraeus, Alpha and Eurobank, as depicted in their statements on the occasion of the official announcements, but I warned the foreign investors, during the teleconferences that followed.
It is interesting that even where there were damages, there is a clear improvement with the compared intervals as well as the fact that the losses appear due to very high provisions for bad loans. Otherwise, all banks would have positive results and increase profits.
Important thing is that they began again to gather resources from organic operations, i.e. interest payments and commissions, an essential ingredient for the survival of the banking groups. The net interest income of Alpha was 482,9 million euros, Piraeus 478 million euro, of the National 396 million euros and Eurobank’s 383 million euro.
At the same time, achieved a reduction in operating costs and in particular operating costs payroll through voluntary retirement programs. Improved and the path of the net interest margin, ranging from 2,15% to 2,80%.
In accordance with the assets of the banks which is listed in the following table, prepared by the news247, the largest today banking group is of Piraeus Bank with assets of 85.682 million euros and follows the National, with assets of 83.802 million euros, Eurobank with 72.938 million euros and Alpha Bank with 68.207 million. euro.
Of these, the National has had a positive result after tax and provisions of 26 million euro compared to ζημιας 263 million euros last year corresponding quarter. The Piraeus was at the group level marginal damages of 37 million euro ( 25 million euro only for Piraeus bank), compared with a loss of 63 million euros last year. Almost negligible damage, by 2.2 million euro, presented by the Alpha Bank , compared with last year’s damage quarter 115,8 million euros. A big positive result of the Eurobank by 60 million euros, compared with a loss of 175 million euros last year.
On the altar of profitability sacrificed, the forecasts for arrears and bad loans, which in total amounted to 4 banks in 853,1 million euro (134 million euro for the National in Greece, 175 million euro for Eurobank, 255,1 million euros for Alpha bank and 289 million euros for Piraeus, greece.
Respectively have reduced their operating costs by 4.4% of the National, by 1.4% Eurobank 3% Piraeus and 1.5 Alpha Bank.
Despite the climate that was formed as to the lack of confidence and fear of the haircut of deposits, the National, the deposits amounted to 42.047 million euros in Piraeus in 37.911 million euros in Eurobank in 31.828 million euro and the Alpha 30.963 million euro.
And even if it seems weird, given and loans. The rest of the lending is 51.323 million euros in Eurobank, 48.900 in Piraeus, 45.826 in Alpha and 38.603 million euro to the National.
In addition to other new developments that will ignite the market, with regard to the levels of liquidity and the cost of financing the industry, even with the upcoming changes to the terms of the capital controls, the same Greek banks pass the message, that not only bore, but standing at the height of the circumstances.
Source
Greek banks: And again to the glory-grabbing!
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