PIRAEUS BANK GROUP PRESENTATION/media/Com/2018/... · PRESENTATION BASED ON Q2.18 FINANCIAL...

November 2017

PIRAEUS BANK GROUP

PRESENTATIONBASED ON Q218 FINANCIAL RESULTS

TABLE OF CONTENTS

01 EXECUTIVE SUMMARY

02 FINANCIAL PERFORMANCE

03 ASSET QUALITY

04 LIQUIDITY

05 APPENDIX

01E X EC U T I V E S U M M A RY

| EXECUTIVE SUMMARY

01

4

11 CONCLUSION OF THE GREEK ESM PROGRAMME

bull For the first time since 2010 Greece will not rely on official sector loans

bull The 21 June 2018 Eurogroup agreement to ensure Greek debt

sustainability for the medium and longer term euro24bn cash buffer

bull The country will remain under Enhanced Surveillance Procedure (ESP)

for many years to ensure continuation of fiscal and structural reforms

bull The economy has been growing and unemployment has been falling

since 2017 and both trends will likely accelerate in the coming years

bull The Greek banking system is stronger following major consolidation

restructuring and deleveraging efforts

bull Greecersquos rating has been upgraded by all key four rating agencies this

year while three out of four assign a positive outlook to their rating

bull Greece is gradually regaining investor trust having successfully

returned to the capital markets in 2017 and early 2018

2000 euro190bn

2016 euro185bn

2017 euro187bn

140

150

160

170

180

190

200

210

220

230

240

250

260

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Real GDP Long term average

July18 190 (monthly data)

00

50

100

150

200

250

300

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Unemployment rate Long term average

Unemployment Rate ()

Real GDP (eurobn nsa)

20 22

-30

-20

-10

00

10

20

30

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

2018

2019

QoQ change YoY change

| EXECUTIVE SUMMARY

01

5

12 OUTLOOK FOR THE GREEK ECONOMY

Sources ELSTAT BoG Bloomberg Piraeus Bank Economic Research

Real GDP Returns to Growth Trajectory (2017 +14 H118 +22)

Unemployment Rate Fallen Significantly (2017 215) Economic Sentiment Indicator (ESI) amp Manufacturing PMI Point to Improving GDP Dynamics

30

35

40

45

50

55

60

Q2

04

Q2

05

Q2

06

Q2

07

Q2

08

Q2

09

Q2

10

Q2

11

Q2

12

Q2

13

Q2

14

Q2

15

Q2

16

Q2

17

Q2

18

75

80

85

90

95

100

105

110

115

Economic Sentiment Indicator (left axis) PMI Manufacturing (right axis)

190169

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Unemployment Rate

2018-2019

outlook

2016 euro56bn

2017 euro60bn

10

20

30

40

50

60

70

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Exports of goods and services

Long term average

Exports Improve Notably

2018-2019

outlook

05

01

| EXECUTIVE SUMMARY

01

6

13 PIRAEUS BANK RECENT DEVELOPMENTS

Concluding Restructuring Plan commitments bull Agreement for the sale of Tirana Bank (capital accretive transaction)bull Binding offers for Piraeus Bank Bulgaria received

NPE sales bull Arctos amp Amoeba transactions agreed in H118bull 2 new NPE sales in H218 and H119 in the

pipeline Project Iris regarding consumer small business loans and Project Nemo regarding shipping loans

Project Solarthe 4 Greek systemic Banks entered into an agreement with doBank SpA for the management of SME NPE common borrowers (euro18bn)

1st e-loan in Greece (personal loan 17k applications since Jun18)

No impact from the ECB waiver upliftthrough the use of Greek assets as

collateral in interbank repo market

ELA funding zeroedas of mid July 2018

Rating upgradesbull DBRS assigned Investment

Grade (BBB low) rating to

Piraeus Bankrsquos Global

Covered Bonds (CB) As a

result euro4bn of retained CBs

are eligible for ECB

refinancing

bull SampP upgraded 2 Piraeus

Bank Structured Finance

Notes (RMBS) to IG (BBB-)

02 03 04

06

07

| EXECUTIVE SUMMARY

01

7

14 GROUP FINANCIAL HIGHLIGHTS

Results Liquidity NPEs Core Bank

euro24mn SHs net profit in Q2 from euro15mn(1) in Q1

92 LDR in Greece

-euro35bnNPE in H1

euro206mn net profit in H1

bull NIM of 246 in H1

bull OpEx down 4 yoy in H1

bull CoR 158 in H1

bull Deposits in Greece +euro1bn in H1

bull Repos ceuro4bn (Αug18)

bull Covered Bonds BBB(low) rating

bull Sales euro17bn in Q2

bull Decreasing NPE inflows

bull Increased restructurings

bull NIM of 306

bull NFI of 073

bull RoA at 11

(1) excluding euro132mn VES cost on a post-tax basis both euro24mn and euro15mn exclude result from discontinued operations

| EXECUTIVE SUMMARY

01

8

15 PIRAEUS BANK TURN-AROUND

bull euro35bn provisions in the past 3qrsquos accelerated NPE clean-up process with euro44bn NPE decrease in the past 3qrsquos

bull Supervisory reviews including CFR performed on euro135bn loans and collective provisions review on euro392bn loans

bull Management actions address supervisory expectations and input from the reviews post conclusion of capital plan

bull RWA size for Piraeus Legacy Unit at euro194bn contracting by euro18bn qoq -euro47bn yoy

bull DG Comp Restructuring Plan is near completion with Albanian and Bulgarian business classified as discontinued

bull Strong growth for Piraeus Core Bank with net recurring profit of euro206mn in H118

bull Increasing new loan generation to euro31bn in 2018 from euro27bn in 2017

bull RWA size at euro295bn +euro05bn qoq +euro1bn yoy

bull Cost optimization with ceuro200mn cumulative cost savings for 2018-2020 period

bull Customer base at 52mn with cross selling ratio to 346x compared to 333x a year ago first e-loan in the Greek market

Clean-up

Business model

Piraeus Legacy Unit (PLU)

Piraeus Core Bank

Note CFR Credit File Review

9

16 GROUP BALANCE SHEET01

| EXECUTIVE SUMMARY

Group eurobn Dec17 Jun18

Assets (1) 674 568

Gross Loans (2) 603 537

Net Loans (2) 447 394

Loan Loss Reserves (2 3) 155 144

Customer Deposits (2) 427 421

Eurosystem Funding 97 18

92 LDR-Greeceenhanced liquidity profile

ELA eliminated in mid-July 2018

27LLRs over loans

euro31bnnew loan generation

budgeted for 2018

(H1 on track)

(1) Assets of Jun18 vs Dec17 exclude completed sales (Avis Serbia Romania) αswell as planned divestments (Albania Bulgaria agreed NPE sales)

(2) Gross loans net loans loan loss reserves and customer deposits of Jun18 excludeoperations in Bulgaria and Albania which as of Q218 were classified asdiscontinued

(3) Loan loss reserves as of 01012018 amounted to euro171bn incl IFRS9 FTA impact

10

17 SELECTED GROUP BALANCE SHEET ITEMS DEVELOPMENT01

| EXECUTIVE SUMMARY

Assets (eurobn)

Loan Loss Reserves (eurobn)

Gross Loans (eurobn)

Deposits (eurobn)

603

-10 -16 -18 -16 -06

537

Dec17 DiscOperations

SeasonalAgri Loan

Sales Write-offs H1Net delta

Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]

Sales Write-offs Costof risk

Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568

Dec17 Disc Ops SeasonalAgri Loan

Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18

Note in assets movement discontinued operations delta includes Avis Serbia Romania Albania Bulgaria and the 2 NPE sales portfolios In the other items this elementincludes Bulgaria and Albania which were classified as discontinued during H118

+euro10bn

Q118 -euro04bnQ218 -euro02bn

11

18 GROUP OPERATIONAL PERFORMANCE01

| EXECUTIVE SUMMARY

Group (1) euromn Q118 Q218 qoq

Net Revenues | recurring 450 484 8

Operating Expenses | recurring (244) (261) 7

Pre Provision Income | recurring 206 224 8

Loan Impairment (163) (149) -9

Other Items (2) (17) (31) -

Non Recurring Items (3) (142) 7

Pre Tax Result -115 51 -

Net Results Attrib to SHs -79 24 -

Net Result from Discrsquod Ops Attrib to SHs (4) (3) (309)

246bps NIMover assets in Q2

54 CIdown qoq

53bps NFI over assets in Q2

151bps CoRin Q2

Note assets adjusted for discontinued and held for sale operations (1) PampL figures illustrated exclude the Grouprsquos discontinued operations

(2) Other Items line includes associatesrsquo income amp other impairments

(3) Non Recurring Items include

for Q118 euro142mn VES and staff costs related to FTEs who left the Bank in H1 [reported in OpEx]

for Q218 euro24mn loss [reported in other income] euro4mn staff costs [reported in OpEx] reversal of loan impairment ofeuro67mn from the sale of 2 NPE portfolios [reported in loan impairment] and euro32mn loss [reported in other impairment]

(4) Discontinued operations posted a loss of euro3127 million in H118 This figure incorporates a negative amount of euro139mnof FX reserves from Romania and Serbia with no effect in equity capital as it had affected it in the past

H118 -4 yoy

12

19 GROUP PampL DYNAMICS01

| EXECUTIVE SUMMARY

Loan Disbursements (eurobn)

bull Resiliency of NII on the back of

o new loan generation priced higher than legacy book (Q218 477 vs 352) along with increasing loan generation

o deposit costs are also trending lower (Q218 044 vs 046 in Q1)

o covered bonds eligibility for ECB funding

bull NFI contribution expected stronger in H218 on the back of bancassurance revenues cards business farmers business etc

bull 16 key initiatives to reduce cost base in Greece gteuro200mn in 2018-2020 (actions of euro86mn already taken) FY18 c-6 yoy est

0508

00

10

20

30

40

Q118 Q218 FY18

OpEx (euromn)Net Fee Income (euromn)

74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18

Net Interest Income (euromn)

350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak

Dec16 Dec17 Mar18 qoq discops Jun18

144

138 collateral

provisions

01

13

110 ASSET QUALITY TRACK RECORD

| EXECUTIVE SUMMARY

Group NPE Development (eurobn)

On track with 2018 NPEreduction target

-euro28bnQ218 ΝPE quarterly

reduction

euro51bnNPE reduction in the last 12 months

euro83bnNPE reduction from Sep15 peak

Coverage

96

14

111 NPE DEFAULTS TRENDING LOWER01

(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults

Bank data amounts in eurobn

Curing RestructuringLiquidationsCollections

Write-offs

NPEs euro338 euro333 euro326

Q416 Q117 Q217

02

04

Required effort per quarter on average until

Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up

Note adjustment relates with the automated application of lsquoUnlikely to Payrsquo criteria as per ECBrsquos 2017 NPE Guidance (impact of one-off nature)

04 adjustment

deep restructuring

01

15

112 NPL amp NPE OPERATIONAL TARGETS

| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99

Dec15a Dec16a Dec17a Jun18a Dec18f Dec19f

Piraeus aims to further reduce parent stock of

NPEs by euro8bn from Jun18 to Dec19

The reduction by 2019 will be driven by

bull restructuringsbull collectionsbull liquidations

bull debt forgivenessbull write-offsclean-upbull sales

Remaining effort will be achieved through

NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203

Dec17 organic effort inorganic effort 2020restructurings curings

liquidations collections sales

euro314bneuro338bneuro341bn

16

113 NPE SALES IN THE PIPELINE01

| EXECUTIVE SUMMARY

Project Amoeba euro14bn gross book value bull Secured large SME and corporate loans

bull Sale agreed with Bain Capital Credit LP on 29

May 2018

Project Arctos euro04bn gross book value bull Unsecured personal loans amp credit cards

bull Sale agreed with APS Investments Capital sro

on 29 June 2018

Project Iris euro04bn gross book value bull Unsecured personal loans amp credit cards

small business loans leasing exposures

Project Nemo euro04bn gross book value bull Secured shipping loans

Η218 H119

| EXECUTIVE SUMMARY

01

17

114 REAL ESTATE PRICES WILL SUPPORT COST OF RISK NORMALISATION

Source BoG

Real Estate Prices Gradually Recovering

+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0

5 House Price Index yoy

+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0

5 Office Price index yoy

Piraeus Bank in Greece has ceuro23bn of real

estate assets as underlying collateral for

loans οf which half for its PLU portfolio

Therefore the real estate price recovery will

gradually have a positive knock-off result in

provision cost for Piraeus Bank

Q218 +08 yoy

collateral capped at loan amount

18

115 IMPROVED LIQUIDITY01

| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03

Dec14 Jun15 Dec15 Dec16 FY17 Mar18 Δ Q218 Jun18 lateAug18

Domestic Deposits (eurobn)

ELA Funding (eurobn)

351 361393 409 414 +05 419 +05

495


bull Positive deposit movement in Q218 and Q318 (end Aug)

bull Consistent deposit inflows

bull Eurosystem funding decreased by euro43bn in Q218

bull Repos in Q218 with non-ECB eligible collateral at euro33bn

bull ELA use eliminated in 12 July 2018

Eurosystem Financing (eurobn)

14

33

37 38

Dec17 Jun18 Jul18 late Aug18

40

15 10 10

57

030 0


ELA

ECB

19

116 PROGRESS ON FUNDING STATUS01

| EXECUTIVE SUMMARY

Interbank Repos (eurobn)

bull Normalising funding conditions reduce the need for Eurosystem funding

bull Zero ELA reliance since mid-July 2018

bull Early repayment of euro30bn TLTRO participation

bull euro40bn covered bonds receive Investment Grade Rating widening ECB eligible collateral

bull Interbank repo funding has more than doubled since the start of the year at a cost lower than ELA

bull Removal of waiver for Greek assets has been known fact for a long time impact absorbed

20

117 GROUP CAPITAL ADEQUACY RATIOS01

| EXECUTIVE SUMMARY

euro bn | Jun18 Jun18 Jun18 Jun18

CET-1 Capital 66 48 66 48

RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio

SREP Capital Requirement (TSCR)

bull Capital enhancement plan is currently being

executed to maintain capital ratios in excess of

SREP minimum requirements

bull IFRS9 FTA moved from euro16bn to euro20bn

bull Discontinued operations impact amp prudent

adjustment justify quarterly reduction in

CET1 capital

2018

Pillar 1 CET1 450

Pillar 2 Requirement (P2R) 375

AT1 150

T2 200

Total SREP Capital Requirement (TSCR) 1175

Conservation buffer (CB) 1875

Overall Capital Requirement (OCR) 13625

Note ratios adjusted for RWA relief from the sale of the 2 agreed NPE portfolios (Amoeba Arctos) and Albania Bulgaria divestment (euro16bn in total)

Phased-In Fully LoadedPhased-In Fully Loadedreported pro-forma

21

118 CAPITAL RATIOS DEVELOPMENTS01

| EXECUTIVE SUMMARY

70

-03 -01

66

Mar18 prudent adjustment disc ops impact Jun18

503

-05 -09 -05 -10

474

Mar18 qoq SerbiaRomania

AmoebaArctos

BulgariaAlbania

Jun18

Phased-In Capital (eurobn)

RWA (eurobn)

bull euro03bn reflects a prudent approach related to the IFRS9

FTA finalisation in H118

bull euro01bn negative impact attributed to the discontinued

operations concluding Restructuring Plan commitments

related to international operations divestments

RWA relief stemming from

bull NPE sales (Amoeba and Arctos) transactions and sale of Tirana Bank agreed actions with signed SPAs

bull Binding offers for Piraeus Bank Bulgaria received

pro forma adjustments

119 CAPITAL ENHANCEMENT PLAN UNDER WAY01

| EXECUTIVE SUMMARY22

Action Time StatusRWAsRelief

CET1 ratio Impact

A Sale of Assets | Completed

gtgt Avis [operating leasing company] Q118 ~euro02bn +6bps

gtgt Serbia [banking subsidiary] Q218 ~euro03bn +9bps

gtgt Romania [banking subsidiary] Q218 ~euro06bn +18bps

RWAs Impact | Sub-total ~euro12bn +33bps

B Sale of Assets | Signed SPAs

gtgt Amoeba [secured NPL portfolio] Q218 ~euro04bn +23bps

gtgt Arctos [unsecured NPL portfolio] Q218 ~euro01bn +5bps

gtgt Albania [banking subsidiary] Q318 ~euro04bn +2bps


C Sale of Assets| Under Way

gtgt Bulgaria [banking subsidiary] Q418 ~euro06bn

gtgt Other actions Q418 ~euro10bn

Total ~euro37bn

Piraeus Bank is executing a capital

strengthening plan since 2017

Post actions to increase NPE coverage

(2017 clean-up amp IFRS9 first time

adoption) Piraeus is now focusing on

accelerated balance sheet de-risking to

facilitate the execution of its plan

On top Piraeus is also exploring certain

alternatives in issuing non-dilutive

instruments

23

120 SEPARATE BUSINESS MODELS TO ENSURE VALUE CREATION01

| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0

Decisive Actions on Legacy IssuesEfficiency amp Risk-Adjusted Return

ldquoPiraeus Core Bankrdquo ldquoPiraeus Legacy Unitrdquo

eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24

121 PIRAEUS CORE BANK AND PIRAEUS LEGACY UNIT H11801

| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues

4 Operating costs (ex VES cost)

5 PPI (ex VES cost)

6 Impairments

7 Net Income (ex VES cost)

B Ratios

8 NIM over assets

9 NFampCI over assets

10 Cost-to-income (ex VES cost)

11 Cost of risk (over net loans)

12 RoA (ex VES cost)

PLU includes RBU international operations REO holdings discontinued operations and non-core Greek subsidiariesSelected items are mentioned on recurring basis excluding VES employee cost and related costs of euro145mn booked in H118

PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25

122 PIRAEUS CORE BANK AND PIRAEUS LEGACY UNIT | 2020 TRAJECTORY01

| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14

A Balance Sheet (eurobn)

1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY

Streamlining of business to pave the way for continuing de-risking

bull Restructuring Plan conclusion

bull ELA reliance elimination

bull Inorganic initiatives for NPLs

bull Growth in Core Bank

bull Cost optimisation

bull Digitisation acceleration

Improved PPI and normalized

provisioning to show earning

power

bull Medium-term targets to be achieved as per the ldquoAgenda 2020rdquo strategic plan

bull Strong potential for growth on the back of new loan generation

bull Sustainable healthy returns

Significant strides forward in using our strong capital base to strengthen reserves

bull Best-in-class NPL reduction

bull Q4 provisioning clean-up

bull IFRS9 boost to coverage ratio

bull Viable restructurings amp increased

collections for NPENPL portfolio

bull Satisfactory deposit growth

2019 - 202020182017

123 PIRAEUS BANKrsquoS STRATEGIC FOCUS

02F I N A N C I A L S02F I N A N C I A L S02F I N A N C I A L P E R F O R M A N CE

bull LDR at 94 Greece at 92

38

66

2522

394

1030

09

42

73

421

05331503

02

28

21 ASSETS amp LIABILITIES OVERVIEW

| FINANCIAL PERFORMANCE

Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities

bull Funding mix enhanced on the back oflower ELA reliance now zero improvedinterbank market access and increasingcustomer deposits

bull Interbank repo balances at cost lower thanELA

bull EFSF bonds dropped to zero as of Jan18 inthe context of short term measures for theHellenic Republicrsquos debt relief (euro168bn atthe peak)

bull Asset side comprises 66 by customerloans

() other includes ldquoother assetsrdquo (euro34bn) ldquogoodwill amp other intangible assetsrdquo (euro03bn) andldquoloans amp advances to customers mandatorily at FV through PampLrdquo (euro01bn)

Interbank loans

DTA

Discrsquod ops amp held for sale

29

22 GROUP BALANCE SHEET DE-RISKING AND LIQUIDITY IMPROVEMENT 02


Group Balance Sheet (euromn)

Jun17 Mar18 Jun18 qoq yoy

CashBalances with Central Banks 3042 1524 864 -43 -73

Loans amp Advances to Banks 173 3532 1019 -71 -

Gross Loans 62048 57702 53749 -7 -13

(Loan Loss Reserves) (15685) (16344) (14368) -12 -8

Securities 12367 2882 2968 3 -76

- ow EFSF ΕSM Bonds 8504 0 0 - -

Intangibles amp Goodwill 277 305 295 -3 6

Fixed Assets 2088 2201 2204 0 6

Deferred Tax Assets 5329 6587 6559 0 23

Other Assets 3313 3388 3472 2 5

Assets of Discontinued Ops amp held for sale 966 1781 2461 38 -

Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3

Debt Securities 67 432 531 23 -

Other Liabilities 1584 1840 1840 0 16

Liabilities of Discontinued Ops 452 1446 1843 27 -

Total Liabilities 64170 55717 51875 -7 -19

Total Equity 9748 7842 7347 -6 -25

Total Liabilities amp Equity 73918 63559 59222 -7 -20

1

2

3

3

Eurosystem funding at euro18bn in Jun18 down euro140bn

yoy ΕFSF repos balance to zero in Nov17 other repos

with non ECB eligible collateral at euro38bn in late August

2018

1

2

Customer deposits on a like-for-like basis (excl Albania

and Bulgaria) increased by 1 qoq and 10 yoy

Q218 delta in gross loans reflects write-offs for clean-

up and deep restructurings (euro10bn) NPE sales (euro18bn)

and discontinued operations classification (euro10bn)

30

23 GROUP PampL HIGHLIGHTS STRONG PERFORMANCE IN COST CONTAINMENT ALONG WITH PROVISION NORMALIZATION02


Group Profit amp Loss (euromn)

H118 recurring OpEx decreased by 4 yoy excluding the

extraordinary cost associated with 2018 VES Main driver

for this trend has been the lsquocost reduction programmersquo

that started bearing fruits with the launch of VES in early

2018 as well as other actions aiming at administrative

costs decline

1

2

NII reduction in H118 by 16 yoy mainly attributed to

lower accruing balances post IFRS9 FTA and deleveraging

impact while in Q218 NII was flattish at euro349mn and NFI

was flattish at euro149mn in H118 with momentum for

H218

H118 loan impairment at euro312mn against euro522mn in

H117 following the substantial increase in coverage

levels in previous semester and the IFRS9 transition

3

4

Q118 Q218 qoq H117 H118 yoy

Net Interest Income 350 349 0 832 699 -16

Net Fee Income 74 75 0 149 149 0

Core Banking Income 425 424 0 982 848 -14

Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15

Total Net Revenues 450 460 2 1078 910 -16

Total Net Revenues (recurring) 450 484 8 1012 934 -8

Employee Costs (259) (125) -52 (264) (384) 45

Employee Costs (recurring) (117) (122) 3 (264) (239) -10

Administrative Expenses (100) (114) 15 (215) (214) 0

Depreciation amp Other (27) (25) -7 (47) (52) 10

Total Operating Costs (386) (264) -31 (526) (650) 24

Total Operating Costs (recurring) (244) (261) 7 (526) (505) -4

Pre Provision Income 64 196 - 552 260 -53

Pre Provision Income (recurring) 206 224 8 486 430 -12

Result from Associates (8) (16) 89 (26) (24) -9

Impairment on Loans (163) (149) -9 (522) (312) -40

Impairment on Other Assets (8) 20 - (26) 12 -

Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -

Net Results Attrib to SHs (79) 24 - 3 (55) -

Minorities Attrib to SHs (1) (2) 26 (2) (3) -

Discontinued Ops Result (3) (310) - (78) (313) -

1

2

4

3

H118 Group recurring PPI decreased -12 yoy as the

progress on cost reduction and the resilient contribution

of the net fee and commission income line was more than

outstripped by the decline in net interest income

Note for Q117 euro21mn were flagged as one-off stemming from the sales of EFSF bonds to the Central Bank and inQ217 euro45mn were flagged as one-off stemming from the effect of the PICAR investment propertyfinance leaseobligation remeasurement In addition VES and other extraordinary staff costs of euro142mn and euro4mn wereclassified as one-off items in Q118 and Q218 respectively

5

A gain of euro67mn provision reversal from Arctos and

Amoeba portfolio sales is included in the other

impairment line

5

31

24 NET INTEREST INCOME IMPACTED BY INCREASED PROVISIONS02


1

2

Interest income in Q218 remained flattish qoq

NIM expanding by 11bps at 246 in Q2 vs Q118

ELA cost to be eliminated as ELA zeroed in mid July while

positive impact is expected from covered bonds eligibility

for ECB use post their investment grade rating assignment

in late Aug18

H117 H118

Fixed Income Securities 52 29

Net Loans 1022 878

ow in Greece 990 851

Other Assets 54 47

Interest Income 1128 954

Customer Deposits 100 100

ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17

Other Liabilities amp Equity 113 122

Interest Expense 295 254

Net interest Income 832 700

NIM 1 274 246

1 on assets excluding discontinued operations and held for sale loans (Arctos amp Amoeba portfolios)

Net Interest Income Decomposition (euromn)amounts in euromn

3

832

-124 -20 +51 -39

H117 Impact fromHigher LoanProvisions

LoanDeleverage

Funding Other H118

700

02

32

25 DOMESTIC LOAN PORTFOLIO YIELDS FRONT BOOK PRICING AT HIGHER LEVELS


Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381

Actual rates shown above refer to total Greek banking operations quarterly averages

Customer Rates Time Deposit Rate Declines Further

Front book rates relate with minimal disbursements for retail loans while for business new production came stronger mainly from both corporate and SME segment

Loan Rates

Q218 Total Stock Front Book

Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48

Loan Rates Front Book Rates Steadily Above Legacy Book

Q218

Business Loan Rates Total Stock Front Book

Corporate amp SME 35 45

SBL 58 65

Total 38 46

33

26 UPGRADED OPERATING EFFICIENCY02

16

1311

~09

bull ldquoProject Horizonrdquo commenced in Q417 to

re-invent the operational model of the Bank

bull 16 key initiatives to reduce the cost base in

Greece by gteuro200mn during period 2018-2020

Wholesale efficiency

gains

Retail efficiency

gains2016 2020

Effects of cost initiatives eurobn 2017-2020

2017

Cost savings of more than euro200mn for the 3-year period 2018-2020

2013Reshape

corporate functions

Redesign core

processes

Procurement efficiency

gains


euro200mn initiatives in place

euro96mn actions taken amp will kick off

euro47mn admin costs relief

euro49mn staff costs relief

03A S S E T Q UA L I T Y

03

35

31 GROUP NPE amp NPL RATIOS ON TRACK

| ASSET QUALITY

Note NPE on balance sheet data

NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799

Group NPL Ratio per Product Category

Group NPL Mix

355 358

299

486

331 322 309

458

Total Business Mortgages Consumer

Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387

Group NPE Ratio per Product Category

Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36

32 NPL amp NPE STOCK FALLING ACROSS MOST SEGMENTS [PARENT DATA]

| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18

NPL Development yoy (eurobn)

NPE Development yoy (eurobn)

-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn

Mortgages Consumer LoansBusiness Loans

-37-32

-04

-30

-17

-21 +1-25

03

37

33 SIZEABLE CURING POTENTIAL FROM FORBORNE LOANS UNDER PROBATION

| ASSET QUALITY


(eurobn) 0 dpd 1-89dpd NPLs NPEs

Business 70 23 110 202

Mortgages 09 08 46 63

Consumer 04 02 23 28

TOTAL 83 33 178 294

NPEs per Bucket (Jun18)

49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL

Cash Coverage Ratio per Product and Status (Jun18)

Forborne Loans (Jun18 euro136bn)

NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25

euro62bn forborne with 0dpd

NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]

pace of NPE exits from restructurings evidently to be accelerated

bull euro03bn in 2017 per quarter on average

bull euro04bn est 2018 per quarter on average


38

34 DOMESTIC NPL amp NPE FORMATION IN Q21803

NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508

Mar18 NPE formation WO clean-up Sales(NPE portion)

Adjustment Jun18

19673

-516 -488 -1579

17091

Mar18 NPL formation WO clean-up Sales(NPL portion)

Jun18

Formation NPLs in Greece

Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516

Formation NPEs in Greece

Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY

Note total NPL wo euro704mn incl deep restructurings

Note total NPΕ wo euro1033mn incl deep restructurings

39

35 PRE WRITE-OFF FORMATION IN NEGATIVE TERRITORY IN Q21803

| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Greek NPL Formation by Segment

Notes pre write-off quarterly NPL formation in euromn NPE on balance sheet data

Greek NPE Formation by Segment

Business Mortgages Consumer

334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

NPE formation was negative in business and consumer in Q218 with business having a significant negative movements of NPEs

formation while mortgages had a slightly positive formation

NPL formation remained negative for business while mortgages and consumer had a slightly positive formation


03

40 | ASSET QUALITY

36 SOLID COVERAGE IN ALL SEGMENTS

LLRs (euromn) Jun18LLR

Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264

International 472 419

TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18

NPE Coverage Ratio per Product NPL Coverage Ratio per Product

Group LLRs at 27 Over Loans

NPL mix 62 26 13

Total NPE coverage ratio at 94 for business portfolio including

collateral

Strong NPL coverage ratio at 95 for the business portfolio that

comprise 62 of total NPL stock

Cumulative provisions at 27 over Group gross loans

51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120

Cash coverage Collateral coverage

03

41

37 CASH COVERAGE AUGMENTED BY COLLATERAL

| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE

coverage at 96Total NPL

coverage at 125

31

70


42

68


pre-haircut tangible collateral (guarantees not included) capped at loan amount

03

42

38 LOAN PORTFOLIO DIVERSIFICATION

| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279

Other service activities

Agriculture

Transportation amp Storage

Electricity Gas Steam

Shipping

Real Estate

Financial amp Insurance

Accommodation amp Food

Construction

Other

Wholesale amp Retail Trade

Manufacturing

Consumer

Mortgages

Loans KPIs per Segment (Jun18) Domestic Loan Composition (Jun18 )

in euromn | TOTAL Business Mortgages Consumer

GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43

39 AUCTIONSrsquo PROGRESS03

41

54

5

completed

non completed

cancelled due to debtor request forrestructuring

Feb28 - Oct26 2018

2064 auctionsProperty auctions 2014 2015 2016 2017

201828 Feb - 26 Oct

auctions carried out by Piraeus 124 124 219 3962064

ow 851 completed

bull Measure for carrying out solely e-auctions of foreclosed property commenced in

28 Feb18 The measure affects all auctions regardless of when a foreclosure notice was

imposed

bull The Code of Civil Procedures introduces the preferential coverage of the Banksrsquo claims

from auctionsrsquo proceeds provided that the following cumulative conditions are satisfied

i) new financing post 170118 ii) with new underwritingmortgageor pledged collateral

of 1st class and iii) this collateral is auctioned

| ASSET QUALITY

44

310 REO MANAGEMENT03

Piraeus REO holdings concentrated in Attica amp NorthGreece jointly making up ~50 of the portfolio

Current Status

bull ~56k properties accumulated mainly in the last yearsfrom acquisitions amp repossessions (22k residential 16k

commercial 04k industrial 14k plots)

bull Current market value of those properties euro10bn

bull In Η118 144 properties were sold and in 2017 148 vs

61 in 2016 22 in 2015 and just 10 in 2014

Actions

bull Run the Real Estate re-organisation project

bull Improve on the current strengths of Piraeus Real Estateand transform it in the marketing company for REO

utilising the newly introduced innovative platform forauctions in Greece wwwproperties4salegr

bull Enhance the capabilities of the Group with property and

facility management contracts

bull Create an RBU unit to reverse engineer both therestructuring and foreclosure processes with REO input

and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail

Large assets gteuro5mn

200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018

Number of Properties Sold ()

| ASSET QUALITY

45

311 PIRAEUS REO ONLINE PLATFORM PROGRESS03Piraeus Bank was the 1st Bank to launch the innovative site wwwProperties4salegr achieving the sale of REO assets

through online amp publicly accessible auctions

1st Auction | 29 properties sold at 15 discount over market values

2nd Auction | 29 properties sold at 9 discount over market values

3rd Auction | 26 properties sold at 15 discount over market values

20

17

4th Auction | 33 properties sold at 5 discount over market values

TypeMarket Price

(euromn)Bid Price

(euromn)Delta

1st Auction 36 30 -15

2nd Auction 72 66 -9

3rd Auction 45 38 -15

4th Auction 40 38 -5


Total 221 197 -11

gtgt Residential 1576 1414 -10

gtgt Commercial 578 494 -14

gtgt Land plots 061 058 -5

Online Auctions | Results to Date

2017 2018

1st Auction 2nd Auction 3rd Auction 4th Auction 5th Auction

27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18 20-21 Jun18

of properties 58 57 48 49 37

of registered users ~2900 ~5000 gt6000 gt8500 gt10000

of properties that received bids 39 (67) 41 (72) 35 (73) 37 (76) 24 (65)

of bids from total bidders 196 (80 bidders) 230 (86 bidders) 196 (74 bidders) 206 (73 bidders) 136 (71 bidders)

of the assets with approved bids 50 (29 properties) 51 (29 properties) 54 (26 properties) 67 (33 properties) 59 (22 properties)

of properties ldquoBuy Nowrdquo 939 1341 635 1337 424

20

18

Next Planned Auction | December


| ASSET QUALITY

46

312 MORE THAN 45 OF PERSONAL BANKRUPTCY CASES ARE REJECTED IN COURT 03

Retail Loan Balances Under the Protection of L38692010 (bankruptcy law for individuals) - all classified as NPEs

Secured Loans UnsecuredTotal Secured amp

Unsecured

in euromn | June 2018 Total Mortgages Consumer Total

Total 2493 2331 162 888 3381

ow final court decision 765 728 37 298 1063

bull in favor of customer 412 393 19 140 552

bull in favor of the Bank 353 335 18 158 511

of court decisions in favor of Bank 46 46 48 53 48

Filings that are deemed by the court as eligible for protection can regulate their debts in line with their income and 3debt settlement plans are usually foreseen

bull monthly payments over 4 yearsbull monthly payments over 20 years towards the preservation of the owned primary residence if such exists

these are calculated based on 85 of such propertyrsquos commercial valuebull sale or exploitation of other real estate

48 of euro1063mn of cases that had been filed and were dealt by the courts have been rejected [data up to Jun2018]

Rejected cases of euro511mn [data up to Jun2018] will be repaid at par from the customer as the court decided that they have the ldquoabilityrdquo to repay the debt in full

| ASSET QUALITY

47

313 AMENDMENTS IN LEGAL FRAMEWORK WILL DRIVE FURTHER ACCELERATION OF NPENPL DELEVERAGE 03

Changes Introduced in 2014 - 2016

bull Seizures and auctions expedited (from 18-38 months to lt12 months) and ranking and recovery of creditors with liens or encumbrances substantially improved (banks receive 65-100 ofthe commercial value) Significant reduction of relevant cost for the banks (c20)

bull Expedition of insolvency process

bull Efficiency of consolidation process (art 99) - enforcement proceedings can be stayed when 30 of the creditors (20 of which hold debt secured with liensencumbrances) agree toparticipate in the consolidation process which has a maximum duration of 12 months

bull Simplification and expedition of the winding-up process

bull A process of bankruptcy for natural persons similar to Chapter 13 or Chapter 7 of the US Bankruptcy Code (first time with L38692010 lastly modified with L43462015)

bull Provides individuals (not merchants or business customers) the opportunity to propose a payment plan of financial reorganization under the protection of the court The payment planshould comply with the ldquono creditor worse offrdquo principle

bull The only protected asset under the law is the debtorrsquos primary residence Certain criteria apply for eligibility Pool A (family with 2 kids) property taxable value lteuro200k and income lteuro21kPool B (family with 2 kids) property taxable value lteuro260k and income lteuro35k In order to ensure a residence protection the debtor must submit a payment plan for all hisher creditors

bull Amendments for immediate liberalization of management and sale of all performing and non-performing loans with temporary exception for the sale of NPLs secured by primary residencewith an objective value of the property up to euro140k for which the liberalization will enter in force on 010118

Changes Introduced in 2017

bull Law 44692017 on Out of Court Workouts (ldquoOCWrdquo) introduces a new process of extrajudicial settlement of debts gteuro20000 to the extent that the restructuring of such debts is considered byall participants as necessary for the sustainability of the debtorrsquos business The OCW aims to accelerate the NPL deleverage effort and tackle the category of strategic defaulters

bull Law 44722017 introduced among others

(a) provisions to ensure that there is no civil or criminal liability of credit or financial institutions and public sector officials when involved in debt restructuring provided that suchrestructuring is in compliance with a set of objective criteria (indemnity)

(b) amendments to the legal framework for the licensing and operating of banking receivablesrsquo servicing platforms with the purpose to simplify the process and documentation requiredand

(c) an amendment to the Greek Code of Civil Procedure will enable the electronic auctions for foreclosed properties so as to avoid disruptions in the auction procedures by activists


bull Measure for carrying out solely e-auctions of foreclosed property commenced in 21 Feb 2018 The measure affects all auctions regardless of when a foreclosure notice was imposed

bull The Code of Civil Procedures introduces the preferential coverage of the banksrsquo claims from auctionsrsquo proceeds provided that the following cumulative conditions are satisfied i) newfinancing post 17012018 ii) with new underwritingmortgageor pledged collateral of 1st class and iii) this collateral is auctioned

bull Amendments in the L38692010 include among others i) the lift of the banking secrecy for individuals that are sheltered under the provisions of the law both new applications and thosealready made ii) automatic exemption from the provisions of the law in case of no compliance of the payments set by the courts (through temporary and final rulings)

| ASSET QUALITY

04L I Q U I D I T Y04L I Q U I D I T Y

04 41 GREEK MARKET LIQUIDITY GRADUALLY RESTORED

| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB

Eurosystem at euro12bn in Sept18 (ELA euro4bn ECB euro9bn) -euro114bn vs Jun15 peak

Eurosystem Funding (eurobn)Deposits amp Βanknotes in Circulation (eurobn)

Banknotes at euro32bn in Sept18 -euro19bn vs Jun15 peak

euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits

Currency in Circulation

euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans

Net Loans to Deposits Ratio ()Loans amp Deposit Balances (private sectoreurobn)

LDR at 98 in Sept18 -40pp vs Jun15 peak

Deposits up euro9bn in Sept18 yoy Loans down euro10bn yoy in Sept18 ow euro7bn write-offs

euro176

euro132

98

Source Bank of Greece on top of write-offs the loan market has been impacted by ceuro2bn FX fluctuations and other adjustments yoy

50

42 DOMESTIC DEPOSITS PICKING UP

| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18

Time deposits Savings-Sight deposits

Domestic Deposit Mix ()

Deposit Movement by Segment (eurobn)

Greek market Piraeus - Greece Greek market Piraeus - Greece

Customer Deposit Movement in Greece (eurobn)

361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419

Dec15 Δ Q116Δ Q216Δ Q316Δ Q416 Dec16 Δ Q117Δ Q217Δ Q317Δ Q417 Dec17 Δ Q118Δ Q218 Jun18

PiraeusFY17delta

Q118delta

Q218delta

Jun18balance

Mass|Farmers +05 -01 - 154

Affluent|Private Banking +07 +03 +02 142

SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22

Govt amp Other -03 +08 -01 52

Total +16 +05 +05 419

04

04

51

43 EUROSYSTEM FUNDING UTILIZATION DROPS FURTHER

| LIQUIDITY

Dec14 Dec15 Dec16 Dec17 Mar18 Jun18 Late Aug

ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -

GGBs and T-bills - 08 - - - - -

L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10

Eurosystem Funding (eurobn)

149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118

Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18

ELA

ECB

Collateral Used for Eurosystem Funding - Cash Values (eurobn)

ELA Utilization amp Buffer

1

2

ELA eliminated in 12 July 2018

ELA collateral buffer estimated at euro13bn based on existing collateral

valuation and haircuts

04

52

44 INTERBANK REPO ACTIVITY

| LIQUIDITY

Funding from Non-ECB Eligible Collateral (eurobn)

Interbank Repos Τrends

Following the completion of the ldquoESM bond exchangerdquo in the framework of short term measures for Greek

Public Debt relief Piraeus Bank holds no EFSFESM bonds as of late-November 2017

Initiation of interbank repo activity with non-ECB eligible collateral balance increased to euro33bn at the end

of June

Increased volumes assisting reduction of Eurosystem reliance

1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53

45 CAPITAL CONTROLS UPDATE FURTHER RELAXATION AS OF OCT18

| LIQUIDITY

Cash Withdrawal Limit

bull No limit for withdrawals performed domestically

(applicable from 01102018)

bull euro5000 equivalent per month per customer for withdrawals

performed abroad

Purchase of Greek Mutual

Fundsbull Allowed

New Account Opening bull Allowed with no exceptions (applicable from 01032018)Greek Capital Market

Instrumentsbull Allowed

Additional Account

Beneficiarybull Allowed (applicable from 01032018)

Foreign Investments

Liquidationbull Proceeds can be re-invested

Transfers from abroad bull 100 of incoming funds can be re-transferred abroadChange of Custodian

Bankbull Prohibited when changing to foreign custodian

Outgoing Wire Transfers

abroad

bull Private individuals can transfer up to euro4000 per 2 months

(applicable from 01072018)Trade Related Payments

bull lteuro1m approval at bank level


bull Weekly limit for bank-level committee at euro250mn

bull gteuro1m approval by the Banking Transactions

Approval Committee (applicable from 181018)

Time Deposit Break bull Allowed Early Loan Repayment bull Allowed

27 ministerial decisions since imposition of Capital Controls indicating a gradual relaxation of the relative framework

05A P P E N D I X

05

55 | APPENDIX

51 PIRAEUS BANK LEADING POSITION IN GREECE

Gross Loans - Greece Customer Deposits - Greece Greek Branch Network

55

352

469

485

574

1

19

22

27

29

2

21

21

26

29

Source Bank of Greece for Greek market data and financial information for banks as of Jun18 (Attica Βank as of Mar18)

32 business

05

56 | APPENDIX

52 HIGH CUSTOMER EXPERIENCE AT THE STARTING POINT

24 45 25 41

Excellent Very Good Good Moderate Poor

Overall ExperienceQ Having in mind your banking experience with Piraeus Bank how would you rate it overall

Preference ScoreQ How strongly do you prefer Piraeus Bank to any other bank

Sample size n=153k customers

TRIM Index

93

75

84

18 27 43 8 32

Extremely Very Strongly Strongly Moderately At all NA TRIM Index Benchmarks - Banking

Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56

Source TNS normative database Europe 536k interviews among retail bank customers (Y2013-Y2016)

2016 92

2016 72

2016 82

The customer retention index TRIM (Measuring Managing and Monitoring) shows the strength ofrelationship between the customer and the Bank taking into account their overall experience with and theirpreference to the Bank

Customer Satisfaction Survey 20171

1 Quantitative research using Computer-Assisted Telephone Interviewing (CATI) Fieldwork was conducted between June 20th and August 9th 2017 by ldquoKANTAR TNSrdquo

05

57 | APPENDIX

53 SHAREHOLDER STRUCTURE

HFSF

26

Institutional Investors amp Legal

Entities

68

Individuals

6

Piraeus Shareholder Structure (Jun2018)

Shareholder structure of Piraeus Bank presents great diversity total number of common shareholders 30k

The Hellenic Financial Stability Fund holds 26 of outstanding common shares

The remaining 74 is held by the private sector 68 by legal entities and 6 individuals

Strong international presence with significant part of free float held by foreign institutional investors

Common Shares

Private sector 323 mn

HFSF 114 mn

Total 437 mn

05

58 | APPENDIX

54 GROUP RESULTS DOMESTIC amp INTERNATIONAL

Greece (euromn) International (euromn)

Q118 Q218 qoq Q217 yoy

Net Interest Income 340 340 0 403 -16

Net Fee Income 73 74 1 74 -1

Trading amp Other Income 21 39 87 68 -43

Total Net Revenues 434 453 4 546 -17

Total Net Revenues (recurring) 434 478 10 500 -5

Employee Costs (257) (123) -52 (130) -6

Employee Costs (recurring) (115) (119) 3 (130) -9

Administrative Expenses (96) (111) 16 (103) 8

Depreciation amp Other (26) (25) -7 (22) 10

Total Operating Costs (380) (259) -32 (256) 1

Total Operating Costs (recurring) (238) (255) 7 (256) 0

Pre Provision Income 54 195 - 290 -33

Pre Provision Income (recurring) 196 222 13 244 -9

Result from Associates (8) (16) - (18) -12

Impairment on Loans (159) (130) -19 (249) -48

Impairment on Other Assets 11 24 - (17) -

Pre Tax Result (101) 73 - 5 -

Tax 35 (30) - 8 -

Net Result Attrib to SHs (66) 43 - 14 -

Minorities Attrib to SHs 0 0 0 (1) -54

Discontinued Operations Result (4) (6) - (23) -


10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX

55 LOAN amp DEPOSIT PORTFOLIOS

Gross Loans Evolution (euromn)

Dec16 Jun17 Dec17 Mar18 Jun18 yoy qoq

Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34

Deposits Evolution (euromn)


Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89

Notes loan balances exclude seasonal agri-loan of euro17bn and euro16bn for Dec16 and Dec17 respectively Serbian operations excluded from Jun17 onwards Piraeus Bank Romania from Dec17 onwards Piraeus Bank Bulgaria and Tirana Bank from Jun18 onwards

05

60 | APPENDIX

56 IFRS9 SEGMENT amp STAGE ANALYSIS | GROUP

impact

euro1621mn


Dec171 Mar18 Jun18 Δ

Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18

Mortgages Consumer Business Total

Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49

Jun17 Dec17 Jun18 IFRS 9

NPE Coverage Evolution ()

Notes excluding loans accounted for at fair value through the PampL (euro280mn) and seasonal loan to farmers (euro16bn)

IAS 39

05

61 | APPENDIX

57 CONTINGENT CONVERTIBLE BONDS

Term amp Ranking

Payment of interest

Perpetual

Pari passu with common equity junior to all claims of all creditors (including subordinated) at special liquidation of issuer

Annual

Fully discretionary amp Paid in cash or shares

Coupon is tax deductible impacting directly equity position as dividend

No dividend shall be paid on the issuerrsquos common stock if issuer has decided not to pay the previous coupon payment in full

Coupon Initial 7 years 8 per annum (initial interest rate)

Post 7 years interest rate calculated as prevailing 7y Mid-swap rate + (8 less 7y Mid-swap rate at issuance 7543 per cent pa)

Conversion events

The securities shall automatically convert into ordinary shares if

At any time the CET1 ratio calculated on a consolidated basis or a solo basis falls below 7

2 annual coupons are missed (in whole or in part and do not need to be consecutive)

Optional to the holder at 7th anniversary of issuance

Conversion consideration The number of common shares issued on conversion is determined as 116 of the nominal amount of the outstanding securities divided by the

conversion price which shall be equal to the offer price subject to market standard adjustments in the event of certain corporate actions

Option to repay The issuer may in its sole discretion repay all or some only of the bonds at any time subject to approval by the ECB acting within the

framework of SSM at their initial nominal amount plus any interest accrued but unpaid unless cancelled

Applicable law Greek law

Basel III Classification Classified as Common Equity Tier 1

Transferability Transferable by HFSF to another holder with the consent of the issuer and the regulator per Art 7(5)(b) of the HFSF Law

Issue Size euro2040000000

62 | GLOSSARY

GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES

1 NII Net Interest Income

2 DTAs Deferred Tax Assets

3 PPA adjustment

Purchase price allocation (PPA) adjustments relating to the acquisition of the seven banks [ie former ATEbank

the Greek banking operations of Cypriot Banks in Greece (Bank of Cyprus Cyprus Popular Bank Hellenic Bank)

Millennium Bank SA Geniki Bank SA and Panellinia Bank SA] amounting to euro46bn at the end of H118 and to

euro58bn at the end of 2017

4 Gross Loans before Impairments amp Adjustments Loans and advances to customers before allowances for impairments on loan losses gross of PPA adjustments

5 Net Loans Loans and advances to customers

6 Net Loans to Deposits Ratio (LDR) Net loans over deposits due to customers

7 Core Banking Income or NII+NFI Net interest income plus net fee and commission income

8 Non Recurring (One-off) Items

In Q217 euro45mn of other income relating to the net effect of remeasurement of the present value of a finance

lease obligation of Picar SA off-set by the loss on the remeasurement of the City Link investment property at fair

value was classified as one-off ldquo(Picar One-Offrdquo) In Q218 euro24mn loss in other income was flagged as one-off In

Q118 euro142mn of Voluntary Exit Scheme (ldquoVESrdquo) staff costs and in Q218 euro4mn of Voluntary Exit Scheme and other

extraordinary staff costs were classified as one-off (ldquoVES One-Offrdquo)

9 Pre Provision Income (PPI)Total net income less total operating expenses excluding one-off items The relevant amount corresponds to

ldquoProfit before provisions impairments and income taxrdquo excluding the one-off items

10 Cost to Income Ratio (CI) Total operating expenses before provisions over total net income excluding one-off items

11 Capital adequacy ratio Total regulatory capital over risk weighted assets

63 | GLOSSARY

GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES (contrsquod)

12 CET1 Capital Ratio on Pro-forma BasisCET1 capital ratio taking into account RWA relief for the divestments of Piraeus Bank Bulgaria and Albania and two

NPE sales (Amoeba and Arctos)

13 IFRS 9 First Time Adoption (FTA)The final impact on regulatory capital (fully loaded) from first time adoption of IFRS 9 on 1 January 2018 of

approximately euro20 billion

14 Adjusted total assets

Total assets excluding assets of discontinued operations and two NPE sales (Amoeba and Arctos) amounting to

euro26bn in June 2018 and assets of discontinued operations amounting to euro18bn in March 2018 and euro10bn in June

2017 respectively

15 Net Interest Margin (NIM) Net interest income over adjusted total assets

16 Net Fee Income over Assets Net fee and commission income over adjusted total assets

17 NPLs - Non Performing Loans Loans and advances to customers in arrears over 90 days past due gross of PPA adjustments

18 NPEs - Non Performing Exposures

On balance sheet credit exposures before allowances for impairments on loan losses gross of PPA adjustments that

are (a) past due over 90 days (b) impaired or those which the debtor is deemed as unlikely to repay its obligations

in full without liquidating collateral regardless of the existence of any past due amount or the number of past due

days (c) forborne and still within the probation period under EBA rules (d) subject to contagion from (a) under

EBA rules and other unlikely to pay (UTP) criteria

19 NPL Ratio Non-performing loans over gross loans before impairments amp adjustments

20 NPE Ratio Non-performing exposure over gross loans before impairments amp adjustments

64 | GLOSSARY


21 NPL Coverage Ratio Allowances for impairment on loan losses gross of PPA adjustments over Non-Performing Loans

22 NPE Coverage Ratio Allowances for impairment on loan losses gross of PPA adjustments over Non-Performing Exposures

23 NPE FormationChange of the stock of adjusted NPEs adding back write-downs or other adjustments ie loan sales or debt to

equity transactions over loans and advances to customers before allowances for impairment on loan losses

24 NPL FormationChange of the stock of adjusted NPLs adding back write-downs or other adjustments ie loan sales or debt to


25 New NPL formation over loansChange of the stock of NPLs over 90 days past due adding back write-downs or other adjustments eg loan sales or

debt to equity swaps over loans and advances to customers (before impairments)

26 Net Fee Income (NFI or NF+CI) Net fee and commission income

27 Cost of Risk (CoR) Allowances for impairment on loans and advances to customers over net loans

28 Return on Assets (RoA) Profit (loss) for the period over adjusted total assets

29 Net Results or Net Profit Profit (loss) for the period attributable to equity holders of the parent

30 Cumulative provisions (Loan loss reserves ndash LLR) Allowance for impairment on loans and advances to customers gross of PPA adjustment

31 Cumulative provisions (LLRs) over gross loans Cumulative provisions for loans and advances to customers over gross loans before impairments and adjustments

32 Operating Expenses (OpEx) Total operating expenses before provisions

65 | GLOSSARY


33 Loan impairment charges (Provision Expenses) Impairment losses on loans and advances to customers

34 Pre Tax Results Profit (loss) before income tax

35 New Loan Generation New loan disbursements that were realized after previous end period

36 Customers Number of customers both individuals and legal entities with a banking relationship (account) with Piraeus Bank

37 Cross Selling Ratio Total product groups over total number of customers

38 ELATotal Assets ELA Total adjusted Assets

39 GampA Costs Administrative expenses

40 DTC Deferred tax credit

41 PPE Property and equipment plus investment property

42 Tangible Book Value Equity minus value of cocos (euro 2040 mn) minus goodwill and intangibles (euro 295 mn)

43 FTEs Full time employees

66

The accompanying presentation has been prepared by Piraeus Bank SA and its subsidiaries and affiliates (the ldquoBankrdquo or ldquoWerdquo) solely for informational purposes For the purposes of this disclaimer thepresentation that follows shall mean and include materials including and together with any oral commentary or presentation and any question-and-answer session By attending a meeting at which thepresentation is made or otherwise viewing or accessing the presentation whether live or recorded you will be deemed to have agreed to the following restrictions and acknowledged that you understand thelegal and regulatory sanctions attached to the misuse disclosure or improper circulation of the presentation or any information contained herein The information contained in this presentation is confidentialand is solely for the use of the intended recipient

This presentation does not constitute an offer to sell or a solicitation of an offer to buy or a recommendation to buy or invest in any form of security issued by the Bank or its subsidiaries or affiliates nor does itconstitute an offer or commitment to lend syndicate or arrange a financing underwrite or purchase or act as an agent or advisor or in any other capacity with respect to any transaction or to commit capitalThis presentation is not intended to provide a basis for evaluations and does not constitute investment legal accounting regulatory taxation or other advice and does not take into account your objectives orlegal accounting regulatory taxation or financial situation or particular needs No representation warranty or undertaking is being made and no reliance may be placed for any purpose whatsoever on theinformation contained in this presentation in making any investment decision in relation to any form of security issued by the Bank or its subsidiaries or affiliates or for any other transaction You are solelyresponsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Bank You are solely responsible for seeking independent professionaladvice in relation to the Bank and you should consult with your own advisers as to the legal tax business financial and related aspects andor consequences of any investment decision No responsibility orliability is accepted by any person for any of the information or for any action taken by you or any of your officers employees agents or associates on the basis of such information

This presentation does not purport to be comprehensive and no representation warranty or undertaking is made hereby or is to be implied by any person as to the completeness accuracy or fairness of theinformation contained in this presentation The Bank its financial and other advisors and their respective directors officers employees agents and representatives expressly disclaim any and all liabilitywhich may arise from this presentation and any errors contained herein andor omissions therefrom or from any use of this presentation or its contents or otherwise in connection therewith The Bank itsfinancial and other advisors and their respective directors officers employees agents and representatives accept no liability for any loss howsoever arising directly or indirectly from any use of theinformation in this presentation or in connection therewith Certain information contained in this presentation is based on estimates or expectations of the Bank and there can be no assurance that theseestimates or expectations are or will prove to be accurate This presentation speaks only as of the date hereof and neither the Bank nor any other person gives any undertaking or is under any obligation toupdate any of the information contained in this presentation including forward-looking statements for events or circumstances that occur subsequent to the date of this presentation

Each recipient acknowledges that neither it nor the Bank intends that the Bank act or be responsible as a fiduciary to such attendee or recipient its management stockholders creditors or any other personBy accepting and providing this document each attendee or recipient and the Bank respectively expressly disclaims any fiduciary relationship and agrees that each recipient is responsible for making its ownindependent judgment with respect to the Bank and any other matters regarding this document

The Bank has included certain non-IFRS financial measures in this presentation These measurements may not be comparable to those of other companies Reference to these non-IFRS financial measuresshould be considered in addition to IFRS financial measures but should not be considered a substitute for results that are presented in accordance with IFRS

Certain statements contained in this presentation that are not statements of historical fact including without limitation any statements preceded by followed by or including the words ldquotargetsrdquo ldquobelievesrdquoldquoexpectsrdquo ldquoaimsrdquo ldquointendsrdquo ldquomayrdquo ldquoanticipatesrdquo ldquowouldrdquo ldquocouldrdquo or similar expressions or the negative thereof constitute forward-looking statements notwithstanding that such statements are notspecifically identified Examples of forward-looking statements include but are not limited to statements which are not statements of historical fact and may include among other things statements relatingto the Bankrsquos strategies plans objectives initiatives and targets its businesses outlook political economic or other conditions in Greece or elsewhere the Bankrsquos financial condition results of operationsliquidity capital resources and capital expenditures and development of markets and anticipated cost savings and synergies as well as the intention and beliefs of the Bank andor its management or directorsconcerning the foregoing Forward-looking statements are not guarantees of future performance and involve certain risks uncertainties and assumptions which are difficult to predict and outside of the controlof the Bank Therefore actual outcomes and results may differ materially from what is expressed in such forward-looking statements We have based these assumptions on information currently available tous and if any one or more of these assumptions turn out to be incorrect actual market results may differ significantly While we do not know what impact any such differences may have on our business ifthere are such differences our future results of operations and financial condition could be materially adversely affected You should not place undue reliance on these forward-looking statements Forward-looking statements speak only as of the date on which such statements are made The Bank expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-lookingstatement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events

DISCLAIMER

Investor Relations Contacts

Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION

4 Amerikis St 105 64 Athens

Tel (+30 ) 210 3335026

investor_relationspiraeusbankgr

Bloomberg TPEIR GA | Reuters BOPrAT

ISIN GRS014003024

wwwpiraeusbankgroupcom

Latest update 30 October 2018

PIRAEUS BANK GROUP HEADQUARTERS

4 Amerikis Str 105 64 Athens Greece T +30 210 333 5026wwwpiraeusbankgroupcom



TABLE OF CONTENTS

01 EXECUTIVE SUMMARY

02 FINANCIAL PERFORMANCE

03 ASSET QUALITY

04 LIQUIDITY

05 APPENDIX


| EXECUTIVE SUMMARY

01

4















2000 euro190bn

2016 euro185bn

2017 euro187bn

140

150

160

170

180

190

200

210

220

230

240

250

260

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



00

50

100

150

200

250

300

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017




20 22

-30

-20

-10

00

10

20

30

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

2018

2019


| EXECUTIVE SUMMARY

01

5





30

35

40

45

50

55

60

Q2

04

Q2

05

Q2

06

Q2

07

Q2

08

Q2

09

Q2

10

Q2

11

Q2

12

Q2

13

Q2

14

Q2

15

Q2

16

Q2

17

Q2

18

75

80

85

90

95

100

105

110

115


190169

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Unemployment Rate

2018-2019

outlook

2016 euro56bn

2017 euro60bn

10

20

30

40

50

60

70

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017


Long term average


2018-2019

outlook

05

01

| EXECUTIVE SUMMARY

01

6
















refinancing




02 03 04

06

07

| EXECUTIVE SUMMARY

01

7




92 LDR in Greece

-euro35bnNPE in H1




bull CoR 158 in H1







bull NIM of 306

bull NFI of 073

bull RoA at 11


| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024








| EXECUTIVE SUMMARY

01

4















2000 euro190bn

2016 euro185bn

2017 euro187bn

140

150

160

170

180

190

200

210

220

230

240

250

260

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



00

50

100

150

200

250

300

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017




20 22

-30

-20

-10

00

10

20

30

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

2018

2019


| EXECUTIVE SUMMARY

01

5





30

35

40

45

50

55

60

Q2

04

Q2

05

Q2

06

Q2

07

Q2

08

Q2

09

Q2

10

Q2

11

Q2

12

Q2

13

Q2

14

Q2

15

Q2

16

Q2

17

Q2

18

75

80

85

90

95

100

105

110

115


190169

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Unemployment Rate

2018-2019

outlook

2016 euro56bn

2017 euro60bn

10

20

30

40

50

60

70

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017


Long term average


2018-2019

outlook

05

01

| EXECUTIVE SUMMARY

01

6
















refinancing




02 03 04

06

07

| EXECUTIVE SUMMARY

01

7




92 LDR in Greece

-euro35bnNPE in H1




bull CoR 158 in H1







bull NIM of 306

bull NFI of 073

bull RoA at 11


| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







20 22

-30

-20

-10

00

10

20

30

Q1

15

Q2

15

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

2018

2019


| EXECUTIVE SUMMARY

01

5





30

35

40

45

50

55

60

Q2

04

Q2

05

Q2

06

Q2

07

Q2

08

Q2

09

Q2

10

Q2

11

Q2

12

Q2

13

Q2

14

Q2

15

Q2

16

Q2

17

Q2

18

75

80

85

90

95

100

105

110

115


190169

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

Unemployment Rate

2018-2019

outlook

2016 euro56bn

2017 euro60bn

10

20

30

40

50

60

70

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017


Long term average


2018-2019

outlook

05

01

| EXECUTIVE SUMMARY

01

6
















refinancing




02 03 04

06

07

| EXECUTIVE SUMMARY

01

7




92 LDR in Greece

-euro35bnNPE in H1




bull CoR 158 in H1







bull NIM of 306

bull NFI of 073

bull RoA at 11


| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

01

| EXECUTIVE SUMMARY

01

6
















refinancing




02 03 04

06

07

| EXECUTIVE SUMMARY

01

7




92 LDR in Greece

-euro35bnNPE in H1




bull CoR 158 in H1







bull NIM of 306

bull NFI of 073

bull RoA at 11


| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







| EXECUTIVE SUMMARY

01

7




92 LDR in Greece

-euro35bnNPE in H1




bull CoR 158 in H1







bull NIM of 306

bull NFI of 073

bull RoA at 11


| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







| EXECUTIVE SUMMARY

01

8












Clean-up

Business model


Piraeus Core Bank


9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







9


| EXECUTIVE SUMMARY


Assets (1) 674 568


Net Loans (2) 447 394






27LLRs over loans


budgeted for 2018

(H1 on track)




10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







10


| EXECUTIVE SUMMARY

Assets (eurobn)



Deposits (eurobn)

603

-10 -16 -18 -16 -06

537


SeasonalAgri Loan


Jun18

155 +17

-13 -16

+03

-04

144

Dec17 IFRS9[loans]


Other Jun18

427

-16 -06

+04 +10 +02 421


SeasonalAgri Loan

StateDeposits

HouseholdDeposits

BusinessDeposits

Jun18

674

-46-16 -05 -14 -20 -05

568


Sales EFSFBonds

IFRS9FTA

H1Net delta

Jun18


+euro10bn


11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







11


| EXECUTIVE SUMMARY






Other Items (2) (17) (31) -






54 CIdown qoq


151bps CoRin Q2







H118 -4 yoy

12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







12


| EXECUTIVE SUMMARY








0508

00

10

20

30

40

Q118 Q218 FY18


74 75

0

100

200

300

400

Q118 Q218 FY18

244 261

0

300

600

900

1200

Q118 Q218 FY18


350349

0

500

1000

1500

Q118 Q218 FY18

~euro14bn

~euro035bn

~euro31bn

~euro104bn

377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







377 358329 322

-24 -04

294

Sep15peak


144

138 collateral

provisions

01

13


| EXECUTIVE SUMMARY




reduction



Coverage

96

14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







14


(11)(07) (09) (09) (09) (09) (09)

(03)(07)

(06)(05) (05) (02)

(05)(03)

(05)(02)

(17)

GeorgeHandjini

colaou(11)

(05)

(04)

07 04 05 05 05 04 03

04

04 04 03 04 04 04

Re-defaults

Defaults



Write-offs


Q416 Q117 Q217

02

04


Dec2019

Q318 ndash Q419

Sales

Q317

euro320 euro314

Q417 Q118

euro308

| EXECUTIVE SUMMARY

euro283

Q218

clean up


04 adjustment

deep restructuring

01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







01

15


| EXECUTIVE SUMMARY

252230 198 171

149104

89108

116112

109

99








NPE

NPL

euro203bn

euro259bneuro283bn

198 248 200

00

-euro56bn-euro24bn

-203




16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







16


| EXECUTIVE SUMMARY



May 2018



on 29 June 2018




Η218 H119

| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







| EXECUTIVE SUMMARY

01

17


Source BoG


+05

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

H1

18

-15

-10

-5

0


+37

Η1

09

Η2

09

Η1

10

Η2

10

Η1

11

Η2

11

Η1

12

Η2

12

Η1

13

Η2

13

Η1

14

Η2

14

Η1

15

Η2

15

Η1

16

Η2

16

Η1

17

Η2

17

-15

-10

-5

0








Q218 +08 yoy


18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







18


| EXECUTIVE SUMMARY

222

119

5721

-18

000

167

03




351 361393 409 414 +05 419 +05

495








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024








14

33

37 38


40

15 10 10

57

030 0


ELA

ECB

19


| EXECUTIVE SUMMARY








20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







20


| EXECUTIVE SUMMARY



RWAs 488 469 474 454

CET-1 ratio 136 102 140 106

CET-1 Ratio








CET1 capital

2018

Pillar 1 CET1 450


AT1 150

T2 200






21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







21


| EXECUTIVE SUMMARY

70

-03 -01

66


503

-05 -09 -05 -10

474


AmoebaArctos

BulgariaAlbania

Jun18


RWA (eurobn)













CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024










CET1 ratio Impact














Total ~euro37bn










instruments

23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







23


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWA ROA

Jun18 194 lt0

Mar18 212 lt0

Dec17 219 lt0

Sep17 237 lt0

Jun17 241 lt0

Mar17 252 lt0



eurobn RWA ROA

Jun18 295 11

Mar18 290 11

Dec17 286 11

Sep17 287 11

Jun17 286 11

Mar17 280 11

24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







24


| EXECUTIVE SUMMARY

A PampL (euromn)

1 NII

2 NFI

3 Net revenues


5 PPI (ex VES cost)

6 Impairments


B Ratios

8 NIM over assets






PIRAEUS CORE BANK

578

137

781

(407)

374

(74)

206

306

073

52

068

11

PLU

122

11

129

(97)

31

(238)

(473)

128

012

76

270

lt0

PIRAEUS GROUP

699

149

910

(505)

406

(312)

(267)

246

052

55

158

lt0

25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







25


| EXECUTIVE SUMMARY

f forecast

PLU

Jun18 2020f

19 13

19 13

13 10

01 01

76 92

lt0 lt0

PIRAEUS CORE BANK

Jun18 2020f

38 53

30 32

31 26

07 09

52 41

11 14


1 Assets

2 RWAs

B PampL (ratios)

3 NIM over assets


5 Cost-to-income

6 RoA

26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







26

01

| EXECUTIVE SUMMARY










power











2019 - 202020182017




38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024









38

66

2522

394

1030

09

42

73

421

05331503

02

28



Other

Cash

AssetMix

Total

Securities

Net Loans

Fixed assets

592

amounts in eurobn

Total

ECBELA

Interbank Repos

Deposits

Total Equity

Other

592

FundingMix

Jun18 Jun18

Debt Securities






Interbank loans

DTA


29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







29







Gross Loans 62048 57702 53749 -7 -13


Securities 12367 2882 2968 3 -76



Fixed Assets 2088 2201 2204 0 6


Other Assets 3313 3388 3472 2 5


Total Assets 73918 63559 59222 -7 -20

Due to Banks 21149 8846 5559 -37 -74

Deposits 40918 43151 42102 -2 3





Total Equity 9748 7842 7347 -6 -25


1

2

3

3




2018

1

2






30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







30









costs decline

1

2





H218




3

4

Q118 Q218 qoq H117 H118 yoy


Net Fee Income 74 75 0 149 149 0


Trading Income 13 17 26 59 30 -50

Other Income 12 20 61 38 32 -15



Employee Costs (259) (125) -52 (264) (384) 45











Pre Tax Result (115) 51 - (22) (64) -

Tax 35 (29) - 23 6 -




1

2

4

3






5



impairment line

5

31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







31



1

2






in late Aug18

H117 H118


Net Loans 1022 878


Other Assets 54 47



ow in Greece 99 100

Due to Banks 83 32

ow ELA 85 17




NIM 1 274 246



3

832

-124 -20 +51 -39


LoanDeleverage

Funding Other H118

700

02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







02

32



Q416 Q117 Q217 Q317 Q417 Q118 Q218

Deposits 051 047 046 045 046 046 044

Sight 059 054 052 050 055 052 051

Savings 010 008 008 008 008 007 006

Time 086 082 081 078 076 075 073

avg 3m euribor

-031 -033 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 360 352

Mortgages 227 222 219 218 217 215 212

Consumer 831 763 762 730 714 684 660

Business 419 423 412 401 392 390 381




Loan Rates


Mortgages 21 31

Consumer 66 98

Business 38 46

Total 35 48


Q218



SBL 58 65

Total 38 46

33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







33


16

1311

~09






gains

Retail efficiency

gains2016 2020


2017


2013Reshape

corporate functions

Redesign core

processes


gains







03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024








03

35


| ASSET QUALITY


NPLs (euromn) Jun18

Business 10976

Mortgages 4565

Consumer 2258

TOTAL 17799

NPLs (euromn) Jun18

Greece 17091

International 708

TOTAL 17799


Group NPL Mix

355 358

299

486

331 322 309

458


Mar18

Jun18

NPEs (euromn) Jun18

Business 20223

Mortgages 6316

Consumer 2848

TOTAL 29387

NPEs (euromn) Jun18

Greece 28508

International 879

TOTAL 29387


Group NPE Mix

557611

415

578547

594

428

577


Mar18

Jun18

NPE mix 69 21 10 NPL mix 62 26 13

03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







03

36


| ASSET QUALITY

3828

Jun16 Jun18

46 46

Jun16 Jun18

244

171

Jun16 Jun18



-euro00bn

33

23

Jun16 Jun18

165

103

Jun16 Jun18

342

283

Jun16 Jun18

62 63

Jun16 Jun18

242

191

Jun16 Jun18

-euro10bn

-euro72bn

-euro62bn

-euro60bn

+euro01bn-euro10bn

-euro51bn


-37-32

-04

-30

-17

-21 +1-25

03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







03

37


| ASSET QUALITY



Business 70 23 110 202



TOTAL 83 33 178 294


49 51

31

736878

36

848195

42

91


NPE NPEgt0dpd NPL



NPEF 0dpd45

NPEF 1-30dpd8

NPEF 31-90dpd11

NPEF gt90dpd11

PF25


NPΕ mix 28 11 61 100

[1] [2] [3] [1+2+3]





38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







38


NPL Greece (euromn)

NPE Greece (euromn)

31026

-722 -488 -1706

+398 28508


Adjustment Jun18

19673

-516 -488 -1579

17091


Jun18


Q218 euromn

Mortgages +107

Consumer +19

Business -642

Total -516


Q218 euromn

Mortgages +56

Consumer -38

Business -740

Total -722

| ASSET QUALITY



39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







39


| ASSET QUALITY

-41 -33

-208

47

-187

-740

131

23 6

-120-53

56 19

-19

9

-47 -61 -38

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





334

-254-358

-612

-57

-642

89

-12 -48 -32

58 10728

-43 -39 -47 -18

19

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18

Q1

17

Q2

17

Q3

17

Q4

17

Q1

18

Q2

18





03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







03

40 | ASSET QUALITY



Loans

Business 10375 305

Mortgages 1927 131

Consumer 2066 419

TOTAL 14368 267


Loans

Greece 13896 264


TOTAL 14368 267

8089

44

94

81

95

42

91


Mar18 Jun18



NPL mix 62 26 13


collateral




51 52

32

79

49 51

31

73


Mar18 Jun18

NPE mix 69 21 10


9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







9120


03

41


| ASSET QUALITY

95

40


Mortgage

Business

Consumer

51

43


7321


Mortgage

Business

Consumer

Total 135

Total 110

Total 112

Total 94

Total 101

Total 94

Total NPE


coverage at 125

31

70


42

68



03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







03

42


| ASSET QUALITY

25

17

28

34

41

36

37

58

70

69

105

109

91

279


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages



GROUP Loans 53749 34057 14757 4934

NPL Ratio 331 322 309 458

NPL Coverage 807 945 422 915

NPE Ratio 547 594 428 577

NPE Coverage 489 513 305 725


GREECE Loans 52623 33113 14700 4809

NPL Ratio 325 312 310 458

NPL Coverage 813 964 420 914

NPE Ratio 542 587 429 579

NPE Coverage 487 513 304 723

Retail 37

43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







43


41

54

5

completed

non completed


Feb28 - Oct26 2018


201828 Feb - 26 Oct


ow 851 completed



imposed





| ASSET QUALITY

44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







44



Current Status





61 in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

132

79

80

63

46

137

Commercial

Retail


200

(euromn)

343

1022

61

148 144

2014 2015 2016 2017 Η12018


| ASSET QUALITY

45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







45






20

17


TypeMarket Price

(euromn)Bid Price

(euromn)Delta






Total 221 197 -11





2017 2018









20

18



| ASSET QUALITY

46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







46




Unsecured


Total 2493 2331 162 888 3381










| ASSET QUALITY

47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







47





















| ASSET QUALITY



| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024









| LIQUIDITY49

40

60

80

100

120

140

2009 2011 2012 2013 2014 2015 2016 2018

0

20

40

60

80

100

120

140

160

2009 2011 2012 2013 2014 2015 2016 2018

ELA

ECB




euro4euro9

euro130

euro42

0

10

20

30

40

50

60

2009 2011 2012 2013 2014 2015 2016 2018

100

150

200

250

300 Deposits


euro32

euro147

100

120

140

160

180

200

220

240

260

280

2009 2011 2012 2013 2014 2015 2016 2018

Deposits

Loans




euro176

euro132

98


50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







50


| LIQUIDITY

26 23

74 77

Jun18 Jun18

Business Retail

39 40

61 60

Jun18 Jun18






361

-10

+04 +09+29 393

-13

+02+09 +18 409 +05 +05 419


PiraeusFY17delta

Q118delta

Q218delta

Jun18balance



SB +04 - +03 37

SME +01 - +01 12

Corporate +01 -04 +01 22


Total +16 +05 +05 419

04

04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







04

51


| LIQUIDITY


ECB 141 160 90 40 40 15 10

EFSF|ESM Bonds 57 153 73 15 - - 01

GGBs and T-bills 10 - 09 10 10 09 -

L3723 68 - - - - - -

Other 06 07 08 15 30 06 09

ELA - 167 119 57 21 03 -


L3723 - 57 - - - - -

Loans amp Other - 102 119 57 21 03 -

Total 141 327 209 97 61 18 10


149 151 146 160 144124 111

9045 55 42 40 40

15

154

222212 167

161

144127

119

110 103

7857

2103

100

141

303

373 358

327304

268

238209

155 158

120

97

6118


ELA

ECB



1

2




04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







04

52


| LIQUIDITY






of June


1

3

2

euro39bn

00

05

10

15

20

25

30

35

40D

ec1

6

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Ap

r1

8

May

18

Jun

18

Au

g18

euro33bn

04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







04

53


| LIQUIDITY





performed abroad


Fundsbull Allowed



Additional Account


Foreign Investments





abroad










05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05A P P E N D I X

05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

55 | APPENDIX



55

352

469

485

574

1

19

22

27

29

2

21

21

26

29


32 business

05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

56 | APPENDIX


24 45 25 41





TRIM Index

93

75

84

18 27 43 8 32


Top-10 Index 94

Top-33 Index 81

TRIM Index Mean 74

Bottom-33 Index 68

Bottom-10 Index 56


2016 92

2016 72

2016 82




05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

57 | APPENDIX


HFSF

26


Entities

68

Individuals

6






Common Shares


HFSF 114 mn

Total 437 mn

05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

58 | APPENDIX









Employee Costs (257) (123) -52 (130) -6












Tax 35 (30) - 8 -





10 9 -14 10 -10

1 1 -30 2 -61

5 (3) - 1 -

16 7 -57 13 -48

16 7 -57 13 -48

(2) (2) 13 (2) 6

(2) (2) 13 (2) 6

(3) (3) -5 (2) 54

0 0 - 0 -

(6) (6) -3 5 19

(6) (6) -3 5 19

10 1 - 8 -

10 1 - 8 -

(1) 1 - (1) -

(4) (19) - (15) -

(19) (4) - 0 -

(14) (21) - (7) -

0 1 - 2 -

(13) (19) - (4) -

(1) (1) 36 0 -

1 (303) - (55) -

05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

59 | APPENDIX




Group 64947 62048 58627 57702 53749 -13 -7

Business 42511 40389 37962 37276 34057 -16 -9

Mortgages 16162 15696 15183 15007 14757 -6 -2

Consumer 6274 5964 5482 5419 4934 -17 -9

Greece 61296 58905 56597 55680 52623 -11 -5

Business 39792 38027 36317 35655 33113 -13 -7

Mortgages 15707 15330 14973 14797 14700 -4 -1

Consumer 5797 5548 5307 5229 4809 -13 -8

Intrsquol 3650 3143 2030 2022 1126 -64 -44

Business 2719 2362 1645 1621 944 -60 -42

Mortgages 455 366 210 210 57 -84 -73

Consumer 476 416 175 190 125 -70 -34



Group 42365 40918 42715 43151 42102 3 -2

Savings 14995 14379 15134 14945 14430 0 -3

Sight 11190 10860 11682 10982 10851 0 -1

Time 16179 15679 15900 17225 16821 7 -2

Greece 39322 38185 40889 41404 41903 10 1

Savings 14613 14069 14825 14624 14415 2 -1

Sight 10536 10123 11125 10473 10765 6 3

Time 14172 13993 14938 16308 16723 20 3

Intrsquol 3043 2733 1826 1747 199 -93 -89

Savings 382 310 309 321 15 -95 -95

Sight 654 737 556 509 86 -88 -83

Time 2007 1686 961 917 98 -94 -89


05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

60 | APPENDIX


impact

euro1621mn



Stage 1 192 189 186 -03

Stage 2 69 70 59 -11

Stage 3 323 318 293 -25

Total 584 577 537 -40

Coverage () Jun18


Stage 1 0 2 1 1

Stage 2 6 18 8 8

Stage 3 29 67 50 47

Total 13 42 30 27

47 47 49




IAS 39

05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







05

61 | APPENDIX


Term amp Ranking

Payment of interest

Perpetual


Annual






Conversion events













62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







62 | GLOSSARY




3 PPA adjustment



















63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







63 | GLOSSARY









2017 respectively












64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







64 | GLOSSARY

















65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







65 | GLOSSARY













66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







66







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024








Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

Αmalia Missailidi

George Doukas

67

COMMUNICATION


Tel (+30 ) 210 3335026



ISIN GRS014003024







PIRAEUS BANK GROUP PRESENTATION/media/Com/2018/... · PRESENTATION BASED ON Q2.18 FINANCIAL...

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Transcript of PIRAEUS BANK GROUP PRESENTATION/media/Com/2018/... · PRESENTATION BASED ON Q2.18 FINANCIAL...