Money Buzz! Europa

Tag: eurobank

  • Eurobank to finance the Crete – Attica electrical interconnection project

    Eurobank to finance the Crete – Attica electrical interconnection project

    The common bond loan has a repayment period of ten (10) years with a possibility of partial withdrawals according to the implementation course of the interconnection.

    In addition to bank lending, the project will be implemented using equity of €200 million while the co-finance of Greece and the European Union will be used for the remaining €400 million.

    The Crete – Attica Interconnection is a landmark project in Greece. It is the largest energy project under construction and the second largest overall and it will contribute significantly in the process for economic recovery with a special positive sign for the economy of Crete.

    The project has a total budget of €1 billion.

  • Eurobank net profit at €60m in Q1 2020

    Eurobank net profit at €60m in Q1 2020

    Eurobank operating performance in the first three months of the current year has been robust, with net profit increasing to €60m.

    Net interest income fell by 0.9% y-o-y to €339m in 1Q2020, with the net interest margin receding by 27 basis points over the same period to 2.08%.

    Net fee and commission income grew by 40.4% y-o-y to €92m, mainly due to rental income, fees capital markets and asset management business.

    Core income increased by 5.7% against 1Q 2019 to €432m, while total operating income rose by 2.9% y-o-y to €434m.

    Operating expenses decreased by 2.8% y-o-y in Greece and were up by 1.7% y-o-y at a group level due to the merger with Grivalia and Piraeus Bank Bulgaria. The cost to income ratio improved to 50.7% in 1Q2020 from 51.3% a year ago.

    International operations remained profitable, as net profit rose by 11.6% y-o-y to €42m. Core pre-provision income grew by 3.3% y-o-y to €65m and pre-provision income expanded by 0.6% y-o-y to €66m.