“A second consecutive quarter of profitability enables Eurobank to focus on its strategic objectives. Our main priority is the active management of NPLs at an accelerated pace. It is particularly encouraging that 90 days past due formation came negative in the previous quarter, for the first time in recent years. In this area we will further intensify our efforts,
devoting additional resources, in order to reduce our stock of NPLs at a fast pace, through all means available within the current legal framework.
Deposit increase by €1.1bn., mainly driven by Greece, demonstrates the ability of the Bank to significantly strengthen its deposit base, if the general economic conditions improve. At the same time, the reduction of ELA funding and the repayment of Pillar
II bonds continues at a fast pace. Eurobank's capital position strengthened by 50 basis points to 17% (CET1), as a result of profit generation and the completion of the sale of Eurolife insurance, in which we maintain a substantial stake. Finally, the robust performance
of our international business is of particular importance for the Group, and we expect a steady strong contribution to Eurobank results from international activities, as countries where we operate have returned to satisfactory growth levels
with a positive medium - term outlook.”
Fokion Karavias, CEO