PIRAEUS BANK - ΤΡΑΠΕΖΑ ΠΕΙΡΑΙΩΣ

In a bid to reach these targets, the bank will move ahead with the 5 billion euro Vega securitization project and the 2 billion euro Phoenix project. This means that the target to slash NPLs in 2020 is being increased to 11 billion euros, up from 6.4 billion euros previously.

Piraeus Bank Group on Friday reported pre-tax profit of 146 million euros in the January-September period, with net profit of 87 million euros in the nine-month period from a loss of 304 million last year.

In a very well-coordinated operation tens of officials from the Competition Committee raided the head offices of Greece's four systemic banks - Eurobank, Alpha Bank, National Bank and Piraeus Bank - and the Hellenic Bank Association. The Competition Committee did not inform the banks about the reason behind the operation.

Intrum aims for a long-term investment in Greece, Mikael Ericson the company's CEO said on Friday. Speaking to reporters in Athens, Ericson expressed his satisfaction over the quality of the human resources and of the management team of Intrum in Greece and noted that the aim of Intrum Hellas was the offer long-term and sustainable repayment solutions to Piraeus Bank's debtors, while it also aspires to take over the management of third-party portfolios in the future.

Piraeus Bank and Intrum concluded yesterday to a strategic agreement in order to establish credit management servicer in Greece. The new servicer is licensed and regulated by the Bank of Greece.