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Piraeus Bank Posts First-Quarter Net Profit After Merger Deals

Piraeus Bank (TPEIR.AT), one of Greece's largest lenders, on Monday reported a first-quarter net profit of 3.62 billion euros ($4.64 billion), largely due to a one-off capital gain of EUR3.4 billion relating to a negative goodwill contribution following the acquisition of the Greek units of troubled Cypriot banks.As part of a rapid consolidation taking place in Greek banking, Piraeus Bank last year bought the healthy assets of ATEbank and Geniki Bank, and in March this year acquired the Greek banking operations of Cyprus's Bank of Cyprus PCL (BOC.CP), Cyprus Popular Bank PCL (CPB.CP), also known as Laiki Bank, and Hellenic Bank, as part of a bailout agreement for the crisis-hit island.In April this year, Piraeus Bank also agreed to buy the Greek unit of Portuguese lender Banco Comercial Portugues SA in a deal that provided Piraeus with a capital boost and helped prevent the Greek government from taking complete control.Before selling the Millennium Bank unit, BCP recapitalized it with ...

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  1. Troika concludes Greek bailout review, next aid tranche soon: source

    An inspection team of international lenders has finished its review of Greece's reforms, paving the way for another 10 billion euros aid payment, a source with knowl...

  2. Greek PM says deposits are safe, banks shielded: paper

    Greek bank deposits are safe and the country's lenders are protected due to a recapitalization scheme which will be completed by the end of April, Prime Minister Ant...

  3. Deposits keep trickling back to Greece amid Cyprus woes

    Greece saw deposit inflows of more than 1.5 billion euros in March, despite fears the Cypriot banking crisis would spark outflows in other troubled euro zone economi...

  4. EUROPE MARKETS: Portugal Stocks Slump In Otherwise Upbeat Europe

    Portuguese stocks slumped in an otherwise upbeat Europe on Monday, after the country's high court struck down some of the austerity measures enacted as part of its 7...

  5. Greece Suspends Bank Merger

    Greece has suspended the merger of the country's two largest lenders, National Bank of Greece SA (NBG, ETE.AT) and Eurobank SA (EUROB.AT), following objections from ...

  6. Greece's Eurobank , National Bank Shares Plunge

    Shares in National Bank of Greece SA (NBG) and Eurobank Ergasias SA (EUROB.AT)--the country's two biggest lenders--were sharply lower in early trade Monday after the...

  7. National Bank Of Greece Sinks After Merger Halt

    Shares of National Bank of Greece SA and Eurobank Ergasias SA both sank 30% in early action on Monday, after a merger between the two banks was halted by the governm...

  8. Greece's NBG-Eurobank merger suspended, official says

    National Bank's plan to absorb Eurobank to form Greece's biggest banking group will be suspended until both are recapitalised, and a state bank support fund will dec...

  9. Banco do Brasil Bidding For a Florida Bank Owned by Bankia

    Latin America's largest bank in terms of assets, Banco do Brasil SA, is among bidders for a small bank up for sale in Florida, as it seeks to offer more services to ...

  10. Banco do Brasil May Pay $750 Million for Bankia's Florida Unit

    Latin America's largest bank in terms of assets, Banco do Brasil SA BBAS3.BR, BDORY), is in advanced talks to buy City National Bank of Florida, a unit of Spain's Ba...

  11. Banco do Brasil May Pay $750 Million for Bankia's Florida Unit -Source

    Latin America's largest bank in terms of assets, Banco do Brasil SA BBAS3.BR, BDORY), is in advanced talks to buy City National Bank of Florida, a unit of Spain's Ba...

  12. EU, IMF resisting merger of Greek banks NBG, Eurobank : paper

    Greece's international lenders have asked Athens to halt the merger of National Bank with Eurobank , worried that the resulting lender would be too big for the state...

  1. Greece to sell Postbank, Proton in July, stress-test big banks

    Greece's bank rescue fund will aim to sell Hellenic Postbank and Proton by mid-July with big banks continuing to absorb small lenders as part of plans to revive the ...

  2. Banco do Brasil Expects To Announce Acquisition in U.S in May -Banker

    Latin America's largest bank in terms of assets, Banco do Brasil SA (BBAS3.BR), is in the final stages of negotiations to acquire a small bank up for sale in Florida...

  3. U.S., Latin America Are Focus for Banco do Brasil Expansion

    The focus for any overseas acquisitions by Brazil's government-run Banco do Brasil will be other countries in Latin America as well as the U.S., the bank's vice pres...

  4. Deutsche Bank Shares Surge After Capital Hike, Solid Results

    Deutsche Bank AG (DB) shares rallied as much as 7% Tuesday after the bank completed a EUR2.96 billion capital raising and reported stronger-than-expected first-quart...

  5. Barclays' senior MENA financial institutions banker departs: sources

    Michael Helou, a Barclays banker who headed the British lender's financial institutions group in the Middle East and North Africa, has resigned from the bank, three ...

  6. Greek Lenders Work to Fill Gaps from Debt Restructure

    Greece's largest lenders are working to raise money to cover massive holes left behind by the country's debt restructuring, with one bank admitting Monday it has giv...

  7. Portugal's BCP Bank Sells Greek Unit to Piraeus

    Greece's Piraeus Bank SA (TPEIR.AT) has agreed to purchase the Greek unit of Portuguese lender Banco Comercial Portugues SA (BCP.LB, BPCGY) in a deal that will provi...

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