ATHENS, GREECE--(Marketwire - Dec 20, 2012) - Eurobank EFG (ATHEX: EUROB), Second & Third Quarter 2012 Financial Results.


  • Total PSI loss of EUR 6bn after the new GGBs buyback. The Bank's initiatives strengthen capital organically by EUR 1.9bn cumulatively since the beginning of the crisis. Total recapitalization needs stand at EUR 5.8bn, determined by the Bank of Greece (including BlackRock diagnostics).

  • As a result of the above, the EBA Core Tier I Ratio reached 11.5% (pro-forma) 1, against a minimum of 9%.

  • Deposits in Greece rise by EUR 1bn in 3Q2012, a trend which continues until today.

  • Net interest income drops by 4% q-o-q, due to higher funding cost, widening of euribor vs ECB, lower bond income and delay in recapitalization.

  • Operating expenses further down by 5% in the quarter. Cumulative 22% reduction since 2008.

  • Non performing loans increase to 17% of total loans, from 14% in 1Q2012. 90+ formation in Greece spiked in 2Q2012, contracting in 3Q2012. Bad debt provisions up by 23% y-o-y in the nine months of 2012.

  • Net result negative by EUR 223m in 3Q2012, hit by higher provisions and lower income.

  • Self-funded international operations. Profits outside Greece recover in 3Q2012.

Eurobank EFG Second & Third Quarter 2012 Financial Results Press Release:
(Please click on the link below to view full press release)
Second & Third Quarter 2012 Financial Results Press Release

Eurobank EFG Second & Third Quarter 2012 Financial Results Presentation:
(Please click on the link below to view 1Q 2012 Results Presentation)
Second & Third Quarter 2012 Financial Results Presentation

About Eurobank EFG
Eurobank EFG group is a European banking organization with total assets of EUR 73.6bn, offering universal banking across eight countries. Eurobank is Greece's second largest bank. It holds lead positions in Bulgaria, Romania and Serbia, offers discerning Wealth Management services in Cyprus, Luxembourg and London and is also present in the Ukraine.

The Group offers a full range of banking and financial products and services to households and enterprises. Retail Banking, Corporate Banking, Investment Banking and Asset Management are part of its activities. The Group offers customised client service, based on the combined knowledge and experience of its employees, across all countries of presence. The performance of the Eurobank people is recognized through numerous awards and distinctions that the Group receives at a local and international level.
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Contact Information:

EFG Eurobank Ergasias, 20 Amalias Avenue, 105 57 Athens, Greece
Fax: +30 210 3337 160
Reuters: EFGr.AT
Bloomberg: EUROB GA

Investor Relations
Dimitris Nikolos
Tel: +30 210 3337688

Yannis Chalaris
Tel: +30 210 3337954

Anthony Kouleimanis
Tel: +30 210 3337537