Piraeus Bank aims for return on assets of more than 1.0 pct

Piraeus Bank aims for return on assets of more than 1.0 pct

“Our aim is to become the bank with the biggest profits in Greece and to achieve return on assets of more than 1.0 pct, meaning profits of more than 700 million euros,” Christos Megalou, Piraeus Bank’s CEO said addressing a meeting of the bank’s executives last week.

Megalou said Piraeus Bank was robust and capital ratios surpassed supervisory requirements, adding that the bank should fully cut dependence from ELA mechanism the soonest possible. “We must have access to markets as we did in the past,” he noted. Piraeus Bank’s CEO said the aim was to regain deposits that left the domestic banking system, adding that resolving the NPLs problem should be an intensive work.

Piraeus Bank must reduce NPLs by around 4.0 billion euros this year and to stop creation of new NPLs in corporate banking, he stressed. Megalou underined that Piraeus Bank was focusing on healthy, dynamic, extrovert sectors and enterprises for new funding.

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