BUSINESS

Sallas predicts Piraeus Bank will post profit in 2016

TAGS: Banking

Piraeus Bank, Greece’s biggest lender by assets, expects to return to profit this year, as well as a big drop in its nonperforming loans, chairman Michael Sallas told reporters.

“[We anticipate] several hundreds of millions 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 on Thursday.

[Reuters]

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