ECONOMY

Forecasts positive for Piraeus profitability in Q2

forecasts-positive-for-piraeus-profitability-in-q2

Analysts expect the second quarter to be profitable for Piraeus Bank, which is announcing results on Tuesday.

According to Beta Securities, the bank received significant forecasts in the first quarter to address the impact of the pandemic and so risk costs are expected to normalize, leaving room for positive profitability.

Axia Research expects that the profits of Piraeus Bank in the second quarter will reach 66 million euros, thus bringing the losses of the first half to 163 million euros.