SOURCE: Eurobank EFG

Eurobank EFG

May 26, 2011 13:49 ET

Eurobank EFG First Quarter 2011 Financial Results

ATHENS, GREECE--(Marketwire - May 26, 2011) - Eurobank EFG (ATHEX: EUROB) First Quarter 2011 Financial Results.

FIRST QUARTER 2011 HIGHLIGHTS

  • Net income at EUR 74m after the creation of EUR 130m collective reserve to cover potential future risks

  • Tier I ratio rises to 11.9% or by 130bps versus 2010 year-end

  • Deposits remain stable in the last six months, despite the modest decrease in 1Q11

  • Liquidity ratios unchanged -- The loans to deposits ratio recedes for the Group to 123%, from 127% in 2010 and for "New Europe" to 117%, from 131%

  • Recurring pre provision income improves by 2% against the previous quarter

  • Operating expenses decline by 3%yoy and by 8%qoq

  • Bad debt provisions increase by 4%qoq, further strengthening the balance sheet

Eurobank EFG First Quarter 2011 Financial Results Press Release:
(Please click on the link below to view full press release)
First Quarter 2011 Financial Results Press Release

Eurobank EFG First Quarter 2011 Financial Results Presentation:
(Please click on the link below to view 1Q 2011 Results Presentation)
First Quarter 2011 Financial Results Presentation

About Eurobank EFG
Eurobank EFG Group is a European banking organization with total assets of EUR 83.2bn, offering universal banking across 10 countries through its network of 1,600 points of presence and a human force of over 22,500 people. Greece' s second largest bank, Eurobank EFG also has an established presence in Bulgaria, Serbia, Romania, Turkey, Poland, Ukraine, United Kingdom, Luxembourg, and Cyprus.

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