ECONOMY

HSBC expects mixed bank H1 figures

First-half data for the major Greek banks will be mixed, according to HSBC. National Bank, which will announce its first-half figures on August 28, is expected to post a 6 percent decline in net profits to 825 million euros. However, its recurring net profits will grow by 10 percent to 847 million euros. Its total net revenues from interest will come to 1.7 billion euros, a 20 percent increase compared to the same period last year. For the second quarter alone, HSBC has forecast 19 percent growth in net earnings at National from interest to 878 million euros. Revenues from commissions and other payments will show a rise of 18 percent to 216 million euros. Alpha Bank For Alpha Bank, which will issue its H1 figures on August 26, HSBC expects a 9 percent shrinking of net profits to 413 million euros, while recurring net profits are expected to grow by 11 percent. Net revenues from interest will show a 20 percent rise to 902 million euros. Marfin Popular Bank’s figures for the January-June period will be released on August 28 and HSBC expects they will show a 34 percent drop in net profits to 226 million euros, while recurring net earnings will be marginally increased by 1 percent, also to 226 million euros.