Bank of Greece to offer 817.8 mln euros to state budget‏

20:00 21/1/2014 - Πηγή: Matrix24

In its annual financial report on Monday, the central bank said its profits totaled 831 million euros last year, from 318.6 million euros in 2012, reflecting mainly a reduction in bad debt provisions to 468 million euros in 2013, from 2.34 billion euros

in 2012, helped by a drastic reduction of banks’ borrowing from the Emergency Lending Assistance mechanism to 9.79 billion euros in 2013, from 101.8 billion euros a year earlier. On the other hand, however, Greek banks’ dependence from European Central Bank’s lending mechanisms grew to 63.23 billion euros, from 19.4 billion euros in 2012.
The Bank of Greece said its net revenue totaled 1.6 billion euros last year, down 46.6 pct from 2012, reflecting banks’ reduced lending because of an improving economic climate and a successful recapitalisation of Greek banks. Net revenue from interest, financial transactions and redistribution of monetary income totaled 1.466 billion euros, down 49.3 pct from 2012. Net revenues from payroll and commissions fell 2.2 pct to 70.2 million euros, while revenues form shares and participations totaled 54.2 million euros in 2013, up from 20.1 million euros the previous year.
General operating expenses fell by 33.7 million euros to 300.4 million, while payroll spending fell 7.1 pct. The Bank of Greece said its provisions totaled 6.652 billion euros at the end of December 2013. The bank’s general council will seek shareholders’ approval to a plan to pay a 0.6720 euros per share dividend.

source: ΑΜΝΑ