12/02/2008 11:04
According to the average forecast in a Reuters poll of nine analysts, Piraeus Bank is likely to post net profit of 645.4 million euros. Estimates ranged from 625 to 665 million euros.
“The bank is expected to report a 48.5 percent jump in full-year 2007 net profit thanks to strong loan growth and one-off capital gains from share sales. Last March, Piraeus sold its 8.07 percent stake in Bank of Cyprus (BOC) after its proposal to take it over was rejected. It made a capital gain of 153 million euros on the transaction”, the analysts said.
Net interest income is seen up 27.7 percent at 913.2 million euros.
Piraeus Bank will announce its results later today. In the first nine months of 2007, the bank achieved profits of €512.1 million against €342.1 million in the corresponding period of 2006 (+50%). The bank aims to achieve profits of €1.2 billion by 2010.
“The bank is expected to report a 48.5 percent jump in full-year 2007 net profit thanks to strong loan growth and one-off capital gains from share sales. Last March, Piraeus sold its 8.07 percent stake in Bank of Cyprus (BOC) after its proposal to take it over was rejected. It made a capital gain of 153 million euros on the transaction”, the analysts said.
Net interest income is seen up 27.7 percent at 913.2 million euros.
Piraeus Bank will announce its results later today. In the first nine months of 2007, the bank achieved profits of €512.1 million against €342.1 million in the corresponding period of 2006 (+50%). The bank aims to achieve profits of €1.2 billion by 2010.
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