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Piraeus Bank (BPIRY)
OTHER OTC:BPIRY
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Earnings Data
Report Date
Feb 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.22Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 30, 2018
|% Change Since: 24.40%
|Next Earnings Date:Aug 31, 2018
Earnings Call Sentiment|Positive
Piraeus Financial Holdings demonstrated a strong performance with record profits, robust asset growth, and improved financial metrics. However, challenges remain in the mortgage market and potential spread compression in loan production.Company Guidance
During the conference call, Piraeus Financial Holdings provided robust guidance for the remainder of 2024 and beyond, highlighting several key financial metrics. The bank reported a normalized net profit of €320 million for the third quarter, contributing to a total of €932 million for the 9-month period. Net interest income (NII) growth was driven by increasing volumes, with a third-quarter earnings per share (EPS) of €0.25, up 16% year-on-year, and €0.72 for the 9-month period. This strong performance led Piraeus to update its 2024 EPS target to over €0.90. The return on tangible book value stood at 18% for both the third quarter and the 9-month period, prompting an upward revision of the 2024 target to above 17%. The bank achieved a 9% year-on-year net revenue growth for the 9-month period, with assets under management rising to €11 billion. Operating expenses were stable, with a cost-to-core income ratio of 29%, while the non-performing exposure (NPE) ratio decreased to 3.2%, with a target to reduce it further to below 3% by year-end. Piraeus also expanded its performing loan book by €2 billion in the 9-month period, setting a new target of €33 billion by December 2024. The CET1 ratio increased by 150 basis points year-to-date, reaching 14.7%, and the total capital ratio stood at 20%. The MREL ratio was the highest in Greece at 29%, and the distribution accrual target for 2024 was upgraded to 35%, with a 50% payout ratio planned for 2025.Record-Breaking 9-Month Performance
Piraeus Financial Holdings reported a record 9-month performance with a €932 million net profit and €320 million in Q3 alone. Earnings per share increased 16% year-on-year in the quarter.
Revenue and Asset Growth
Net revenue grew by 9% year-on-year for the 9-month period. Assets under management increased to €11 billion, a 29% year-on-year growth.
Improved Financial Metrics
Return on tangible book was 18% in Q3. Cost-to-core income ratio was at a low of 29%. NPE ratio was reduced to 3.2% with a target of below 3% by year-end.
Capital and Liquidity Strength
CET1 ratio increased by 150 basis points year-to-date to 14.7%, while the total capital ratio stands at 20%. MREL ratio is the highest in Greece at 29%.
Loan Book Growth
Performing loan book expanded by €2 billion in the 9-month period, with a target of €33 billion by December 2024, representing a 10% year-on-year growth.
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BPIRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BPIRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | $3.73 | $3.83 | +2.68% |
| Jul 31, 2024 | $4.07 | $4.22 | +3.69% |
| Apr 30, 2024 | $4.12 | $3.98 | -3.40% |
| Feb 14, 2024 | $4.04 | $4.15 | +2.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Piraeus Bank (BPIRY) report earnings?
Piraeus Bank (BPIRY) is schdueled to report earning on Feb 24, 2025, TBA Not Confirmed.
What is Piraeus Bank (BPIRY) earnings time?
Piraeus Bank (BPIRY) earnings time is at Feb 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BPIRY EPS forecast?
BPIRY EPS forecast for the fiscal quarter 2024 (Q4) is 0.22.
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