Piraeus bank reports strong 2023 performance with €800 mln net profits
Divestment. The board of bank bailout fund HFSF decided this week in favor of the sale of its entire 27% stake in Piraeus Bank, through a book-building process, as was the case last year with National Bank, provided that the government also views it positively and conditions in the market remain favorable, with strong interest.
Piraeus Financial Holdings on Wednesday announced net profits of 800 million euros and credit expansion of 1.6 billion euros in 2023.
Bank deposits rose 2% on annual and quarterly basis to reach 59.6 billion euros at the end of December 2023, with wide retail base deposits accounting for 51% of total deposits.
Nonperforming exposure fell to 1.3 billion euros at the end of 2023 from 2.6 billion a year earlier, with the NPE index dropping to 3.5% from 5.5% in the third quarter of 2023 and 6.8% in 2022.
