ECONOMY

Sallas predicts Piraeus Bank will post profit in 2016

Sallas predicts Piraeus Bank will post profit in 2016

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]

Banking

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