Live Breaking News & Updates on Benefited By Lower Funding Costs

Greek Core Banks Remained Profitable-EUROXX
December 10, 2020
In Q3’20, 
Alpha Bank posted profit from continued ops before taxes of €76m (Exx at €71m) vs. profits of €74m in Q2’20 on higher fees and lower impairments which offset the lower NII and weaker trading income. 
Eurobankreported Q3’20 profit from continued ops of €172m (Exx at €122m) compared to €66m in Q2’20, reflecting mainly higher non-core banking Income (above Exx estimates) which offset the lower NII due to the interest income lost post the completion of Cairo transaction. Should we account for the VRS costs, bottom line landed at €85m vs. losses of €1,223m in Q2’20 due to the negative impact from the Cairo project (c€1.3bn).  ....

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