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F I N A N C I A L R E S U L T S P R E S E N T A T I O NΗ 1 2 0 1 7 P I R A E U S G R O U P F I N A N C I A L R E S U L T S

3 0 A U G U S T 2 0 1 7

2

C O N T E N T S

01 Η117 HIGHLIGHTS

02 Η117 DEVELOPMENTS

03 ASSET QUALITY

04 LIQUIDITY

05 APPENDIX

01

3

Η 1 1 7 H I G H L I G H T S

11 Η117 AT A GLANCE

12 KEY FIGURES

13 SELECTED RATIOS

14 OPERATING PERFORMANCE

15 LIQUIDITY

16 NPL NPE DEVELOPMENT

17 COVERAGE RATIOS

18 NPL NPE OPERATIONAL TARGETS

19 NPL NPE SOLO PERFORMANCE PER SEGMENT

110 CAPITAL

111 GREEK MACRO UPDATE

Note as of Q12017 the operations of two domestic subsidiaries namely Olympic SA (Avis Greece) andImithea SA (HDunant hospital) were recorded as discontinued On top as of Q22017 the Bankrsquosoperations in Serbia (Piraeus Bank Beograd and the local leasing subsidiary) have been also classifiedas discontinued All PampL figures mentioned for 2016 and H12017 have been restated accordingly

4

11 H12017 AT A GLANCE

PampL

bull H1 result attr to SHs from continued ops at break-even Q2 at +euro7mn

bull Net revenues at euro1131mn in H1 +3 yoy

bull Operating costs at euro582mn in H1 -5 yoy

bull Cost to income ratio for H1 at 51 from 56 a year ago

bull Pre provision income at euro549mn in H1 +14 yoy

NPLs|NPEsbull NPL stock down to euro23bn in June -euro29bn yoy

bull NPL formation back in negative territory (-euro329mn) in Q2

bull NPE operational target attained for 3rd quarter in a row -euro2bn yoy

Liquidity

bull Deposits in Greece +euro02bn in Q2 reversing the downward trend of Q1

bull +euro03bn in Q3 till mid-August LDR at 113 down from 116 in Q1

bull Eurosystem reliance at euro158bn -euro5bn ytd ELA at euro85bn in late August

bull ΕFSF|ESM holdings at euro85bn in June down euro47bn ytd

Re-sizing

bull Disposal of Avis Hellas [SPA initiatedin the process of finalizing legal documentation]

bull Disposal of Hellenic Seaways stake [SPA signed]

bull Classification of Serbian operations as discontinued

bull Greek footprint at 639 units -39 yoy FTEs at 13928 -1030 respectively

| H12017 HIGHLIGHTS

Operating profitability improving

NPL amp ΝPE stock down for 7th consecutive quarter in Q2

Deposit outflows have eased since early Mar17

Making progress against restructuring plan commitments

5

12 KEY FIGURES01

Group euro bn|mn Greece Intrsquol Jun17 Jun16 yoy

Total Assets 686 53 739 847 -13

Gross Loans 589 31 620 662 -6

Net Loans 440 24 464 489 -5

Loan Loss Reserves 149 08 157 173 -9

Customer Deposits 382 27 409 388 5

Eurosystem Funding - - 158 268 -41

Equity - - 97 99 -2

NII amp NFI 956 80 1036 1047 -1

Net Revenues 1048 83 1131 1093 3

Operating Costs 514 68 582 610 -5

Pre Provision Income 534 15 549 484 14

Impairment on Loans 504 14 518 492 5

Net Result attr to SHs 2 (2) 0 (13) -

Branches () 639 230 869 939 -7

Employees () 13928 3160 17088 18525 -8

+euro21bn inflows of customer deposits yoy

euro110bn reduction of Eurosystem funding yoy

flattish sum of NII amp NFI yoy both Group amp Greece

euro549mn PPI +14 yoy +17 in Greece

euro7mn Group Q2 result euro14mn in Greece

breakeven Group Q2 bottom line euro2mn in Greece

-7 footprint optimization yoy

-8 headcount reduction yoy

| H12017 HIGHLIGHTS

6

13 SELECTED RATIOS01

371 NPL ratio -210ppts yoy

682 NPL coverage 685 in Greece

523 NPE ratio with 45 cash coverage

271bps NIM with NFI over assets at 50bps

51 Cost to income in Q2 49 in Greece

169 CET-1 with 165 fully loaded CET-1 ratio

Group Greece Intrsquol Jun17 Jun16

Liquidity

Loan Deposits 115 87 113 126

Eurosystem Assets - - 25 40

Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046

Cost Income 49 82 51 55

Cost of Risk ( of net loans) 23 12 22 20

Capital

CET-1 (phased-in) - - 169 168

CET-1 (fully loaded) - - 165 160

Asset Quality

gt90dpd ratio 370 382 371 392

gt90dpd coverage ratio 685 631 682 668

NPE ratio 525 486 523 521

NPE coverage 449 457 450 470

Note ratios over assets exclude EFSF|ESM bonds and discontinued operations

| H12017 HIGHLIGHTS

7

14 OPERATING PERFORMANCE01

euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws

bps on net loans 2014 2015 2016 Q117 Q217

PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29

Group euromn Q217 Q117 qoq H117 yoy

NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -

Net result 7 (7) - 0 -

H117 PPI +14 yoy Bottom Line at Breakeven

Notes (a) recurring PampL data ie excluding one-off items ratios over assets excl ΕFSF|ESM bonds(b) PampL for 2016 excl extraordinary financial gain of euro77mn from the sale of Visa Europe stake

| H12017 HIGHLIGHTS

Note data exclude Serbia for Q1 and Q22017

8

15 LIQUIDITY01

ELA down by euro07bn qoq in Q2 at euro103bn vs 2015 peak of euro22bn

1

2 Eurosystem funding decreased by euro51bn in H1

Interbank repos at euro52bn in Q2 incl euro06bn with non-ECB eligible

collateral

Domestic Deposits (eurobn)

Eurosystem Funding (eurobn)

3

4

5

Positive deposit movement in Q2 in Greece

Zero reliance of L3723 as of April 2016

-29

209

373327

-23-34

-55

141 -31+04

158

-08

Dec14 Jun15 Dec15Δ Q116Δ Q216Δ Q316Δ Q416Dec16Δ Q117Δ Q217 Jun17 Δ Jul17

351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03

Dec14 Jun15 Dec15 Δ Q116Δ Q216Δ Q316Δ Q416 Dec16 Δ Q117Δ Q217 Jun17 Δ Jul17

Q317

- deposit increase qtd gteuro03bn till mid August

- ELA use has dropped to euro85bn [late August]

ΕLA from euro103bn in June at euro85bn in late August

| H12017 HIGHLIGHTS

6 Continued participation to ESM bond exchange

52 52

279269

264259

253

244241

230

Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17

382

369 369 368 367 362355 349


4037

01

9


1

2

NPL stock marked a drop of euro11bn qoq and euro49bn from Sep15peak

Q217 NPL formation at -euro04bn back on track

Q217 write-offs at euro07bn

SSM NPL operational target attained for Q217 (-euro12bn)

NPΕ reduction of euro20bn in the last 12 months and euro33bn fromSep15 peak

Q217 ΝPE formation marginally negative (-euro005bn)

SSM NPE operational target attained for 3rd quarter in a row

NPL Development amp Ratio (eurobn|)

NPE Development amp Ratio (eurobn|)

-euro49bn

-euro33bn

| H12017 HIGHLIGHTS

Note NPL NPE for Jun17 exclude Grouprsquos operations in Serbia (Piraeus Bank Beograd and its local leasing subsidiary)

10

17 COVERAGE RATIOS01

NPL coverage including tangible collateral at 110

Group NPL coverage remained flattish qoq to 682 (+23bps qoq) while domestic slightly increased to 685 (+36bps qoq)

74

40

76 6875

39

7768

Business Mortgages Consumer Total

Mar17

Jun17

business NPLs comprise 68

of total

Group NPE coverage at 45 while including tangible collateral it is 94

1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS

Jun17Provision coverage

Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11


bull Piraeus aims at reducing parent stock of NPEs by 38 from Jun17

(euro326bn) to Dec19 (euro203bn)

bull NPLs at parent level are also targeted to be reduced by 53 from

Jun17 (euro217bn) to Dec19 (euro102bn)

bull The reduction until 2019 will be driven by

restructurings collections liquidations write-offs selected sales

Operational Targets Submitted to SSM | Parent Data

2016 2017 2019

in eurobn June September December March June December

actual target actual target actual target αctual target αctual target

NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203

Jun17 Write-Offs RestructuringsCollectionsLiquidations

SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS

Overall Operational target attained Quarterly target attainedNotes

3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12


NPL Development yoy (eurobn)

NPE Development yoy (eurobn)

-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn

Mortgages Consumer Loans Business Loans

| H12017 HIGHLIGHTS

13

110 CAPITAL01

euro bn | Phased-Ιn Fully Loaded

CET-1 Capital 88 86

Total Regulatory Capital 88 86

RWAs 522 522

CET-1 ratio 169 165

Total Capital Ratio 169 165

CET-1 Ratios (Jun17)euromn

CET-1 Capital amp RWAs Evolution in H12017

Leverage ratio at 119

Tangible book value at euro76bn

DTC at euro40bn ow euro13bn from PSI and euro27bn from loan losses

8902

0 -75

2 8829

Mar17CET-1

Q217 resultscont ops

Q217 resultsdiscd ops

Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA

Q217 Serbia amp AVIS Jun17RWA

Note ratios adjusted for AVIS amp Serbia RWA relief

| H12017 HIGHLIGHTS

CET-1 ratios (phased-In amp fully loaded) up on a quarterly basis (01and 02 respectively)

01

14


Reversed Economic Climate Back to the Path Towards Expansion

Sources ELSTAT DG ECFIN Piraeus Bank Economic Research

Real GDP Expected to Stay on a Growth Trajectory

A rebound in economic activity during Q117 and positive

momentum thereafter create significant upside potential to

our 2017-2019 outlook

Post completion of the 2nd Programme Review the business

climate improved with the Economic Sentiment Indicator

rebounding to 982 points close to the peak levels last

recorded in February 2015

Our renewed optimism is based upon the recovery of a

number of economic activity indicators ranging from tourist

arrivals to employment retail sales and industrial production

Going forward the successful implementation of the

outstanding programme reviews and the maintenance of

economic stability and credibility are of paramount importance

so that the Greek economy will be able to capitalize on the

growing positive momentum

Has Economic Activity Recovery Come to Stay

-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15

H 1 1 7 D E V E L O P M E N T S

21 ASSETS amp LIABILITIES MIX

22 GROUP PampL HIGHLIGHTS

23 NET INTEREST INCOME TRENDS

24 GROUP BALANCE SHEET

25 DOMESTIC PampL HIGHLIGHTS

26 DOMESTIC CUSTOMER PORTFOLIO YIELDS

02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17

22 GROUP PampL HIGHLIGHTS02Group Profit amp Loss (euromn)

NFI increased by 2 qoq and 7 yoy from ancillary

business (eg payments money transfers cards

acquiring etc)

Q2 OpEx almost flattish qoq and decreased by 5 yoy

due to successful containment of administrative

expenses and crystallization from 2016 VES benefit

1

2

Q2 net interest income flattish qoq with the

benefit from lower funding costs outpaced by the

impact of asset deleveraging (loans and EFSFESM

portfolio)

Q217 loan impairment at the level of Q117 as

external economic environment conditions

remained challenging

3 Total net revenues for Q2 up by 7 qoq

4

Q217 Q117 qoq H117 H116 yoy

Net Interest Income 436 437 0 873 895 -2

Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48

Other Income 37 (2) - 35 8 gt100

Total Net Revenues 584 547 7 1131 1170 -3

- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4

Administrative Expenses (123) (121) 2 (244) (260) -6

Depreciation amp Other (25) (26) -4 (52) (53) -2

Total Operating Costs (292) (290) 1 (582) (610) -5

Pre Provision Income 292 257 13 549 561 -2

- excl one-off item 292 257 13 549 484 14

Result from Associates (19) (7) - (26) (24) 8

Impairment on Loans (259) (259) 0 (518) (492) 5

Impairment on Other Assets (18) (11) 64 (30) (43) -31

Profit Before Tax (5) (20) 76 (25) 1 -

Tax 10 13 20 23 (15) -

Net SHs Profit from Continuing Ops 7 (7) - 0 (13) -

Discontinued Ops Result (74) (1) - (75) (27) -

1

2

3

5

6

5

4

6 Negatively affected by Serbian operations (bank amp

leasing) and AVIS (-euro74mn)

| H117 DEVELOPMENTS

a reclass of minus euro69mn from the impairment on other assets line to other income line is included on the table vs the financial statements presentation for the like-for-like illustration of PampL components (IFRS statements show higher other income by euro69mn and respectively higher other impairment by an equal amount)

02

18


Slight pressure in domestic portfolio

attributed to loan restructurings

while front book rates remain

elevated vs legacy portfolio

Income stemming mainly from Greek

sovereign exposure (euro22bn at the end

of Q2)

Group Balances (eurobn) and Interest Amounts amp Rates (euromn | )

Domestic deposit cost further

contained in H1

1

2

Lower EFSFESM balances due to

ongoing exchange in the framework

of Short Term measures for Greek

Public Debt relief

ELA use drop offers

significant relief to interest

expense and provides buffer

for additional NII increase

3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate

Fixed Income Securities 177 126 071 136 58 085

ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303

Assets excl EFSF amp Disc Ops 675 650

Customer Deposits 409 247 060 416 108 052

ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153

Other Liabilities amp Equity 131 238 182 120 113 188

Total Liabilities 847 732 086 777 304 078

Net interest Income 1809 873

NIM 1 268 271

1 on assets excluding EFSFESM bonds and discontinued operations

5

| H117 DEVELOPMENTS

1

2

3

4

5

19

24 GROUP BALANCE SHEET 02Group Balance Sheet (euromn)

Jun17 Mar17 Jun16 qoq yoy

CashBalances with Central Banks 3042 2821 3734 8 -19

Loans amp Advances to Banks 173 159 176 8 -2

Gross Loans 62048 63787 66187 -3 -6

(Loan Loss Reserves) (15685) (16370) (17313) -4 -9

Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45

Intangibles amp Goodwill 277 276 268 0 3

Fixed Assets 2088 2307 2563 -9 -19

Deferred Tax Assets 5329 5330 5092 0 5

Other Assets 3852 3698 3752 4 3

Assets of Discontinued Operations 966 527 1692 83 -43

Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5

Debt Securities 67 68 93 -2 -28

Other Liabilities 1584 2041 2468 -22 -36

Liabilities of Discontinued Ops 452 99 1578 - -71

Total Liabilities 64170 66848 74798 -4 -14

Total Equity 9748 9799 9929 -1 -2

Total Liabilities amp Equity 73918 76647 84727 -4 -13

1

2

3

4

Participation in ΕCBrsquos QE programme with euro37bn

throughout 2016 and euro07bn in Jan17 In H12017

euro39bn of EFSFESM bonds were exchanged (short term

measures for Greek debt relief)

3 Eurosystem funding at euro158bn in Jun17 down euro11bn yoy

ΕFSF repos at euro46bn in June other repos at euro05bn

1

2

Customer deposits up euro02bn qoq adjusted for

Serbian operations (Piraeus Bank Beograd and

the local leasing subsidiary)

4

Q217 gross loans in milder deleveraging mode vs

previous quarters euro07bn write-offs in Q217

Equity slightly decreased vs Q117 (-05) mainlyaffected from discontinued operations

5

5

| H117 DEVELOPMENTS

Q217 Q117 qoq H117 yoy

NII 403 405 0 808 -2

NFI 74 74 1 148 7

Total Revenues 546 503 9 1048 5

OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10

Pre tax result 5 (26) - (21) -

SHs PAT from cont ops 14 (13) - 2 -

02

20


Greek Operations (euromn)

1

2

3

4

1

2

3

4

Resilient Q217 NII in Greece qoq and slightly deceased (-2) yoy as lowerfunding costs are offset by asset deleveraging

Q217 NFI flattish yet increased by 7 yoy on the back of increasedbusiness related to e-payments money transfers and cards

Q217 OpEx decreased by 1 qoq and by 5 yoy

Pre provision income at euro290mn in Q217 increased by 18 qoq

5 Loan provisions at euro249mn decreased by 2 qoq

5

| H117 DEVELOPMENTS

Note PampL figures for 2016 exclude extraordinary financial gain of euro77mn from the sale of stake in Visa Europe

Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217

Loan RatesTotal Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412

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

Loan Rates Front Book Rates Steadily Above Legacy Book Customer Rates Time Deposit Rate Declines Further

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

| H117 DEVELOPMENTS

03

22

A S S E T Q U A L I T Y

31 GROUP NPL STOCK amp RATIOS

32 NPL FORMATION

33 NPL NPE MOVEMENT

34 GROUP ΝPL PROVISION amp COLLATERAL COVERAGE

35 LOAN PORTFOLIO KPIs

36 NPE RATIOS amp COVERAGE

37 COVERAGE METRICS

38 RBU PORTFOLIO AT A GLANCE

39 RBU PERIMETER

310 RBU BUSINESS CUSTOMERS VIABILITY MAPPING

311 VIABILITY PER SECTOR

312 AMENDMENTS IN LEGAL FRAMEWORK

03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001

Group NPL Ratio +90dpd per Product Category

Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486

Total Business Mortgages Consumer

Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866

Group NPE Ratio per Product Category

Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

External conditions have normalized following the economic sentiment deterioration experienced until mid March 2017 in Greece

In Greece business NPL returned to negative territory with -euro254mn negative formation compared to +euro334mn positiveNPL flow in Q117

Greek Q2 NPL formation at -euro309mn from +euro451mn in Q1 and from -euro492mn in Q416

Group Q2 NPL formation at -euro329mn from +euro423mn in Q1 and from -euro450mn in Q416 126

230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

NPL Formation (net flows over loans )

Greek NPL Formation by SegmentNote pre write-off quarterly NPL formation in euro mn or as of gross loans Q217 excludes Serbia

Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4

related to 2 corporate accounts

174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Group NPL Formation by Segment

Business Mortgages Consumer



247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218

Mar16 Entries Exits Write-offsamp Other

Jun16 Entries Exits Write-offsamp Other

Sept16 Entries Exits Write-offsamp Other

Dec16 Entries Exits Write-offsamp Other


Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY

Gross NPL Generation in Greece (eurobn)

-euro02bnformation

Entries Exits

NPLs (eurobn) Q1 Q2 Q1 Q2

Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12

H12017 NPL Quarterly Movement per Category

Note RBU data

Group NPEs (eurobn) Q116 Q216 Q316 Q416 Q117 Q217

ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00

NPE stock movement 00 -01 -02 -05 -07 -06

NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45

Dec13 Dec14 Dec15 Dec16 LLRs coverage Tangiblecollateralcoverage

36 3739 39 37

24


03

26

34 GROUP NPL PROVISION amp COLLATERAL COVERAGE

| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs

Total Mortgage Loans

Jun17

Jun17

Jun17

Jun17

Total Business Loans

Total Consumer Loans

Jun17

+36 guarantees

+26 guarantees

+personal guarantees




Note coverage per segment = loan impairment or collateral value per segment divided by balance (NPL or total loan portfolio) total business loans exclude seasonal agri-loan in end period of year

17 25 35 40 39

67


5362 71 76 75

39


03

27


Loans KPIs per Segment (Jun2017)

in euromn | TOTAL Business Mortgage Consumer

GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY

() NPE ratios for on and off balance sheet exposures as per EBA methodology


GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647

Forborne Loans (Jun2017 euro154bn)

NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25

Domestic Loan Composition (Jun2017 )

Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture

Other Services Activities

Transportation amp Storage

Electricity Gas Steam

Shipping

Real Estate

Financial amp Insurance

Accommodation amp Food

Construction

Other

Wholesale amp Retail Trade

Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113

Piraeus Group NPL to NPE Reconciliation (Jun2017) Piraeus Group NPL-NPE-LLR Data per Product (Jun2017)

eurobn Exposures NPEs NPLs Performing

Impaired Forborne Contagion

Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14

eurobn +90dpd NPEs LLRsCoverage

NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45

() NPL ratio over loans including off balance sheet exposures (LCLGs) Likewise for NPE ratio as per EBA definition for both numerator (euro04bn) and denominator (euro46bn)

+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE

Impaired ContagionForborne

+21

Impaired the effect of the inclusion of exposures which are not past due by more than 90dpd and for which the customer carries specific provisions

Forborne the additional effect of the inclusion of exposures which are not past due but have forbearance measures (ie concessions towards a debtor facing or about to face difficulties in meeting financial commitments) and are classified as non-performing as per EBA Technical Standards on forbearance and non performing exposures

Contagion the additional effect of characterizing all exposures to a debtor as NPL when the debtor has exposures in arrears more than 90dpd (pull-through effect) according to EBA technical standards

euro82bn out of euro119bn 0 dpd

03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217

NPL | NPL amp Cash Coverage NPL Coverage Ratio per Product

Group LLRs at 25 Over Loans

| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241

NPLs NPLs Coverage LLRLoans

Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL

NPL Coverage Ratio per Product and Status

03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO

Recovery Banking Unit (RBU)

RBU Strategy

Retail | SBL Recovery

SME Recovery

Corporate | Shipping Recovery | RBU Structured

Solution

Commercial Workouts

Task Force

Notes - figures display balances amp customers managed by Piraeus Recovery Banking Unit

- customer total number refers to unique customers (number of customers in breakdown does not add up due to customers with multiple relationships)

(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149

Commercial Workouts 106 32k 336

SB 12 19k

1437Retail 112 334k

Total 323 356k 1987

() SB FTEs include 100 FTEs in branches for customers holding agricultural products Retail FTEs include 341 dedicated Branch Restructuring Officers

() plus 7 FTEs in senior management office

c2500 FTEs including supporting RBU FTEs (loan admin external legal other vendors in excess of 500 FTEs in total)

Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118

Total Piraeus Non RBU RBU

Note figures display amounts for Piraeus Bank Greece Sums of figures may deviate from totals due to rounding

lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578

Managed by non-RBU units - Transfer in subsequent wave

RBU handles Performing Retail Loans from +1 dpd (restructured loans for a period of one year post

restructuring)

RBU Balances Overview RBU Balances by Segment

74

06

40

84

38

06

53

22

112

12

93

106

Retail Small Business Corporate amp SME Commercial Workout

NPL balances Balances (lt90dpd)

(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers

euro67bn total loan balances

1597 cases


Operating businesses

1350 or 85 of total

euro24bn or 87 of total

Viable (positive EBITDA)

1140 or 84 of

operating cases

euro20 bn loans or 84 of

operating cases

RBU portfolio

Corporate amp Shipping SMEs Commercial Workouts


276 or 64 of total



216 or 78 of operating

cases

euro34bn loans or 80 of

operating cases

32216 NPL cases


Denounced loans gt100k

7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k

bull Mapping taking into account borrowersrsquo needs viability and affordability in a through-the-cycle approach

bull Aim is to take advantage of the changes in the legal framework and the wealth of data gained through acquisitions to deal with strategic defaulters

bull 81 of balances related to

operating SMEs and Corporate refer to customers that are deemed viable displaying positive EBITDA

RBU portfolio RBU portfolio

Viable businesses

euro20bn or 84 of operating cases

Viable businesses


33 | ASSET QUALITY

03 311 VIABILITY PER SECTOR

Corporate amp Shipping RBU SMEs RBU

| Q32016 ASSET QUALITY

90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation

Accomodation amp Food

03

34 | ASSET QUALITY


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 of the 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) agreeto participate 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 paymentplan should 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 incomelteuro21k Pool 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 allhisher 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 primaryresidence with 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 isconsidered by all participants as necessary for the sustainability of the debtorrsquos business The OCW aims to accelerate the NPL deleverage effort and tackle the category of strategicdefaulters

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 thatsuch restructuring 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 documentationrequired and

(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 byactivists

04

35

L I Q U I D I T Y

41 GREEK MARKET LIQUIDITY

42 DOMESTIC DEPOSITS

43 PIRAEUS DEPOSIT COST

44 EUROSYSTEM FUNDING

45 EFSM | ESM HOLDINGS

46 EFSF|ESM BOND EXCHANGE

47 INTERBANK REPOS

48 CAPITAL CONTROLS UPDATE

04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB

Eurosystem at ceuro50bn in Jul17 (ELA euro35bn ECB euro16bn) -euro76bn vs Jun15 peak

Eurosystem Funding (eurobn)Customer Deposits amp Currency in Circulation (eurobn)

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

Banknotes at euro40bn in Jul17 -euro11bn vs Jun15 peak

LDR at 116 in Jul17 -21bps vs Jun15 peak

Deposits down euro01bn ytd in Jul17 Loans down euro6bn ytd in Jul17 ow euro33bn write-offs

euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits

Currency in Circulation

euro40

euro132

Source Bank of Greece

04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17

Time deposits Savings-Sight deposits

Domestic Deposit Mix ()

Piraeus FY16 Q117 Q217 Jul17

Mass|Farmers +10 -05 +02 +00

Affluent|Private Banking +06 -03 -00 +01

SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00

Govt amp Other +05 -04 -03 +01

Total +31 -13 +01 +03

Deposit Movement by Segment (eurobn)

Greek market

Customer Deposit Movement in Greece (eurobn)

134

-24

+08 +17 +56133

-26

+09 131 +08

Dec15 Q116 Q216 Q316 Q416 Dec16 Q117 Q217 Jun17 Jul17

Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail

Greek market Piraeus - Greece

039

061

009

028

Dec12 Dec13 Dec14 Dec15 Jun16 Sep16 Oct16 Nov16 Dec16 Mar17 Jun17

Euro area Greece Spain Portugal

04

38


| LIQUIDITY

Time deposit cost further decrease

Continuous effort to reduce deposit cost in line

with approved Restructuring Plan

New time deposit cost currently at c61bps

Gradual increase of market sentiment and

inflows in deposits are not expected to trigger

any deviation from deposit pricing discipline

Greek Customer Deposit Rates (mtd )

Greek Time Deposit Rates | Stock vs New (mtd )

New Time Deposit Rates in European Periphery ()

Deposit Cost Further Improved

1

2

3

Lower deposit rates

Lower ELA

No Law 3723 utilization

Interbank repo lower rates

Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081

Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Sep16 Dec 16 Jun17

New time deposits

Time deposits (stock)

291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081

Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Sep16 Dec16Mar17Jun17

Total deposits (stock)


04

39


| LIQUIDITY

Dec14 Dec15 Sep16 Dec16 Mar17 Jun17late

Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85

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

L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137

Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 lateAugust

ELA

ECB

Collateral Used for Eurosystem Funding - Cash Values (eurobn)

ELA Utilization amp Buffer

1

2

3

ELA utilization drops further to euro85 in late August 2017

ELA collateral buffer estimated at euro9bn based on existing

collateral valuation and haircuts

No utilization of Pillar 2 support scheme since April 2016

Up to end of Jan17 Piraeus has sold EFSF notes with a nominal

value of euro44bn in the QE program

04

40

45 EFSF | ESM HOLDINGS

| LIQUIDITY

Initial ESM Holdings by Maturity (euromn)

Initial EFSF Holdings by Maturity (euromn)

ISINIssue Date

Maturity Date

CpnFace Value

1 EU000A1U9852 27-Aug-15 27-Feb-17 6m euro -18 813

2 EU000A1U9860 27-Aug-15 27-Aug-17 6m euro -20 812


Total amp Average 07 Yrs 6m euro -20 2706

Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176

9 Total amp Average 40 Yrs 6m euro +58 14142

Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44

ECB QE Participation

In Apr16 EFSF allowed Greek Banks to participate in the ECB

Quantitate Easing (ldquoQErdquo) with EFSFESM notes acquired in the

framework of their recapitalisation andor the consolidation of

the banking sector

Post Jan17 Greek banksrsquo participation in the program

stopped as the short-term relief measures of Greek public

debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 amp Q217 amp Q317euro82bn

ESM

|EFS

F Ex

chan

ge

At the end of August17 Piraeus outstanding balance of ESM amp EFSF notes

will stand at euro42bn

End of August17euro42bn

Early this year Piraeus agreed to participate in the ESM amp EFSF Bond

Exchange Programs in the context of the Short Term Measures for the

relief of Greek Public Debt

Piraeus ESM|EFSF Portfolio

Piraeus contribution to the Bond Exchanges so far amounted to a nominal

value of euro82bn

It is expected that the ESM | EFSF Bond Exchange will continue in the

forthcoming months reducing the Bankrsquos respective overall balances

0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY

Funding from EFSF Repos (euromn) Interbank Repos Τrends

Funding from Non-ECB Eligible Collateral (euromn)

euro46bnJun17 Interbank funding through EFSF bond repos stood at ceuro5bn in June

2017 from euro6bn in December 2016 due to the ongoing exchange in

the framework of ST measures for Greek Public Debt relief

Cost of funding at negative territory for EFSF repos

Increased volume assisting reduction of Eurosystem reliance

Initiation of interbank repo activity with non-ECB eligible collateral in

the past 12 months balances at euro09bn in late August

1

2

3

euro06bnJun17

4

Cash Withdrawal Limit

bull 100 of cash deposited after 220716 can be withdrawn

bull euro840 equivalent per fortnight per customer (applicable up

to 31082017)

bull euro1800 equivalent per month per customer (applicable

from 01092017)

Purchase of Greek Mutual

Fundsbull Allowed

New Account Opening

bull Allowed for existing (as of 110316) customers

bull Subject to specific criteria eg primary payroll account

for new customers

Greek Capital Market

Instrumentsbull Allowed

Additional Account

Beneficiary


bull Prohibited for new customers

Foreign Investments

Liquidationbull Proceeds can be re-invested

Transfers from abroad

bull 100 of incoming funds can be re-transferred abroad

bull 10 of incoming funds received before 220716 can be

withdrawn in cash

bull 30 of incoming funds received between 220716 and

31082017 can be withdrawn in cash

bull 50 of incoming funds received after 01092017 can be

withdrawn in cash

Change of Custodian

Bankbull Prohibited when changing to foreign custodian

Outgoing Wire Transfers

abroadbull Private individuals can transfer up to euro1000 per month Trade Related Payments

bull lteuro350k approval at bank level

bull Weekly limit for bank-level committee at euro112mn

bull gteuro350k approval by the Banking Transactions

Approval Committee

Time Deposit Break bull Allowed Early Loan Repayment bull Allowed

04

43


| LIQUIDITY

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

05

44

A P P E N D I X

51 GROUP RESULTS DOMESTIC amp INTERNATIONAL

52 LOAN amp DEPOSIT PORTFOLIOS

53 OVERVIEW OF INTERNATIONAL OPERATIONS

54 SEE MACRO OUTLOOK

05

45 | APPENDIX


Greece (euromn) International (euromn)

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1

Trading amp Other Income 68 24 gt100 92 110 -16

Total Net Revenues (reported) 546 503 9 1048 1075 -2

Total Net Revenues (recurring) 546 503 9 1048 998 5

Employee Costs (130) (130) 0 (260) (273) -5

Administrative Expenses (103) (104) -1 (208) (221) -6

Depreciation amp Other (22) (24) -5 (46) (46) 1

Total Operating Costs (recurring) (256) (258) -1 (514) (540) -5

Pre Provision Income (reported) 290 245 18 534 535 0

Pre Provision Income (recurring) 290 245 18 534 458 17


Impairment on Loans (249) (255) -2 (504) (458) 10

Impairment on Other Assets (17) (8) - (24) (33) -26

Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -

Net Result Attributable to SHs 14 (13) - 2 18 -

Discontinued Operations Result (23) (1) - (24) 0 -

Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX


Gross Loans Evolution (euromn)

Jun16 Sep16 Dec16 Mar17 Jun17 yoy qoq

Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12

Deposits Evolution (euromn)


Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12

Notes loan balances exclude seasonal agri-loan of euro17 bn for Dec16 Serbia excl in Jun17 figures

05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140

(euromn as at Jun2017)

Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn

Total International1

Consolidated financial data for international operations

Market Shares Loans Deposits

Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries

05 54 SEE MACRO OUTLOOK

| APPENDIX48

hellipas the current account deficits have declined compared to the pre-crisis period

hellipas growth rates even above 50 are recorded

Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35

Sources Piraeus Bank Research National Statistical Sources

hellipvs an improving labour market in the EU

SEE Growth shows significant signs of overperformance The elevated rates of unemployment remain a challengehellip

The External Sector Imbalances have Moderated Significantlyhellip Table of Economic Forecasts

-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8

Albania Bulgaria Cyprus Romania Serbia Ukraine200005 200610 201116

of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY

European Union Countries with Piraeus Bank Presence excl Ukraine

4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017


GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES

49

1 Net loans to deposits ratioLoans and advances to customers (net of impairments) over customer deposits In case mentioned that the index isadjusted for seasonal agri-loan facility to OPEKEPE - Payment Authority of Common Agricultural Policy (CAP) AidSchemes - an amount of euro17bn is subtracted for 31122016 and euro10bn for 31122015

2 Core banking revenues Net interest income plus net fee and commission income

3 NII Net interest income

4 OpEx Operating expenses before provisions

5 Cost to income ratio on a recurring basisTotal operating expenses net of impairments on a recurring basis (excluding the extraordinary expense of year 2015 for the employee retirement scheme) over total net revenues on a recurring basis (excluding the extraordinary revenue from participation in VISA as a result of the sale of VISA Europe to Visa Inc on June 21st 2016)

6Profit before provisions impairment and income tax (PPI)

Total net income minus total operating expenses before impairments

7Recurring profit before provisions impairment and income tax

Total net income minus total operating expenses before impairments on a recurring basis as per the adjustments in item 5

8Profit before provisions impairment and income tax net of extraordinary items

As in item 5

9 Cost of Risk (CoR) Loan impairments for the period over gross loans before adjustments excluding seasonal agri-loan facility (as item 1)

10 DTAs Deferred tax assets

11 NPLs-Non performing loans Loans in arrears over 90 days past due

12 NPEs-Non performing exposures

On and off balance sheet credit exposures (a) that are 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) contagion from (a) according to EBA technical standards

13 NPENon performing exposures ratio NPEs over loans and advances to customers (including off balance sheet exposure before impairments)

14 NPLNon performing loans ratio Non-performing loans over gross loans and advances to customers (before impairments)

| GLOSSARY

GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES (contrsquod)

50

15 Coverage of loans in arrears over 90 days (NPLs) ratio Cumulative provisions of loans and advances to customers over loans in arrears over 90 days past due

16Coverage of loans in arrears over 90 days (NPLs) ratio by cumulative provisions

As in item 15

17 Cumulative provisions (LLRs) over gross loansCumulative provisions for loans and advances to customers over gross loans and advances to customers (before impairments)

18 Capital adequacy ratio Total regulatory capital over risk weighted assets

19 CET-1 capital adequacy ratio CET-1 regulatory capital over risk weighted assets

20 Net interest margin (NIM)Net interest income over total assets excluding assets of discontinued operations EFSFESM bonds and the seasonal loan to OPEKEPE as per item 1 above

21 Net fee income (NFI) over assetsNet fee and commission income over average beginning and end of period total assets excluding assets of discontinued operations EFSFESM bonds and the seasonal loan to OPEKEPE as per item 1 above

22 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)

23 Common Equity Tier-1 ratio (phased-in) Ratio as per item 19 above with phased-in implementation excluding items in accordance with Basel III definitions

24 Common Equity Tier-1 ratio (fully loaded) Ratio as per item 19 above with fully loaded implementation excluding items in accordance with Basel III definitions

25Common Equity Tier-I ratio (fully loaded excluding the provisions of L41722013)

Ratio as per item 19 above with fully loaded implementation excluding items in accordance with Basel III definitions excluding the part of regulatory capital related to deferred tax assets based on L41722013 and the respective adjustment to risk weighted assets

| GLOSSARY

51

COMMUNICATION

4 Amerikis St 105 64 Athens

Tel (+30 ) 210 3335062 3288332 3335026

investor_relationspiraeusbankgr

Bloomberg TPEIR GA | Reuters BOPrAT

ISIN GRS014003024 | SEDOL BYWKR93

wwwpiraeusbankgroupcom

Corporate Development amp Investor Relations

2

C O N T E N T S

01 Η117 HIGHLIGHTS

02 Η117 DEVELOPMENTS

03 ASSET QUALITY

04 LIQUIDITY

05 APPENDIX

01

3



12 KEY FIGURES

13 SELECTED RATIOS


15 LIQUIDITY


17 COVERAGE RATIOS



110 CAPITAL



4


PampL









Liquidity





Re-sizing





| H12017 HIGHLIGHTS





5

12 KEY FIGURES01


Total Assets 686 53 739 847 -13

Gross Loans 589 31 620 662 -6

Net Loans 440 24 464 489 -5




Equity - - 97 99 -2

NII amp NFI 956 80 1036 1047 -1

Net Revenues 1048 83 1131 1093 3





Branches () 639 230 869 939 -7

Employees () 13928 3160 17088 18525 -8









| H12017 HIGHLIGHTS

6









Liquidity



Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046



Capital

CET-1 (phased-in) - - 169 168


Asset Quality

gt90dpd ratio 370 382 371 392


NPE ratio 525 486 523 521

NPE coverage 449 457 450 470


| H12017 HIGHLIGHTS

7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






01

3



12 KEY FIGURES

13 SELECTED RATIOS


15 LIQUIDITY


17 COVERAGE RATIOS



110 CAPITAL



4


PampL









Liquidity





Re-sizing





| H12017 HIGHLIGHTS





5

12 KEY FIGURES01


Total Assets 686 53 739 847 -13

Gross Loans 589 31 620 662 -6

Net Loans 440 24 464 489 -5




Equity - - 97 99 -2

NII amp NFI 956 80 1036 1047 -1

Net Revenues 1048 83 1131 1093 3





Branches () 639 230 869 939 -7

Employees () 13928 3160 17088 18525 -8









| H12017 HIGHLIGHTS

6









Liquidity



Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046



Capital

CET-1 (phased-in) - - 169 168


Asset Quality

gt90dpd ratio 370 382 371 392


NPE ratio 525 486 523 521

NPE coverage 449 457 450 470


| H12017 HIGHLIGHTS

7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






4


PampL









Liquidity





Re-sizing





| H12017 HIGHLIGHTS





5

12 KEY FIGURES01


Total Assets 686 53 739 847 -13

Gross Loans 589 31 620 662 -6

Net Loans 440 24 464 489 -5




Equity - - 97 99 -2

NII amp NFI 956 80 1036 1047 -1

Net Revenues 1048 83 1131 1093 3





Branches () 639 230 869 939 -7

Employees () 13928 3160 17088 18525 -8









| H12017 HIGHLIGHTS

6









Liquidity



Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046



Capital

CET-1 (phased-in) - - 169 168


Asset Quality

gt90dpd ratio 370 382 371 392


NPE ratio 525 486 523 521

NPE coverage 449 457 450 470


| H12017 HIGHLIGHTS

7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






5

12 KEY FIGURES01


Total Assets 686 53 739 847 -13

Gross Loans 589 31 620 662 -6

Net Loans 440 24 464 489 -5




Equity - - 97 99 -2

NII amp NFI 956 80 1036 1047 -1

Net Revenues 1048 83 1131 1093 3





Branches () 639 230 869 939 -7

Employees () 13928 3160 17088 18525 -8









| H12017 HIGHLIGHTS

6









Liquidity



Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046



Capital

CET-1 (phased-in) - - 169 168


Asset Quality

gt90dpd ratio 370 382 371 392


NPE ratio 525 486 523 521

NPE coverage 449 457 450 470


| H12017 HIGHLIGHTS

7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






6









Liquidity



Profitability

NIM 272 261 271 269

NFI Assets 050 059 050 046



Capital

CET-1 (phased-in) - - 169 168


Asset Quality

gt90dpd ratio 370 382 371 392


NPE ratio 525 486 523 521

NPE coverage 449 457 450 470


| H12017 HIGHLIGHTS

7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






7


euro mn

952 920 1033

257 292

2014 2015 2016 Q117 Q217

CoR

PPI

-3718-3487

-1015

-259 -259

Operating Jaws


PPI 172 178 208 218 252

CoR 672 673 204 220 223

jaws -500 -495 +4 -2 +29


NII 436 437 0 873 -2

NFI 82 81 2 162 7

Other 65 30 gt100 95 -23

Revenues 584 547 7 1131 -3

OpEx (292) (290) 1 (582) -5

PPI 292 257 13 549 19

Loan charge (259) (259) 0 (518) 5

Other charges (18) (11) - (30) -




| H12017 HIGHLIGHTS


8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






8

15 LIQUIDITY01


1



collateral



3

4

5



-29

209

373327

-23-34

-55

141 -31+04

158

-08


351 361

-10

+04 +09 +29

495

393

-13

+02 382 +03


Q317




| H12017 HIGHLIGHTS


52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






52 52

279269

264259

253

244241

230


382

369 369 368 367 362355 349


4037

01

9


1

2










-euro49bn

-euro33bn

| H12017 HIGHLIGHTS


10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






10




74

40

76 6875

39

7768


Mar17

Jun17


of total


1

2

3

NPL Coverage ()

48

29

65

4647

28

64

45


Mar17

Jun17

NPE Coverage ()


| H12017 HIGHLIGHTS


Collateral coverage

Total

NPL 68 41 110

NPE 45 49 94

01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






01

11









2016 2017 2019



NPLsgt90dpd 244 239 239 233 232 223 230 211 217 102

NPEs 342 344 341 343 338 339 333 329 326 203

218267

223 203

102

109-59

-44 -20101

326

203


SelectedSales

2019

NPEs

NPLs

| H12017 HIGHLIGHTS


3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






3834

Jun16 Jun17

4645

Jun16 Jun17

244

217

Jun16 Jun17

01

12




-euro01bn

3329

Jun16 Jun17

165

144

Jun16 Jun17

342326

Jun16 Jun17

6264

Jun16 Jun17

242228

Jun16 Jun17

-euro04bn

-euro26bn

-euro21bn

-euro16bn

+euro02bn -euro04bn

-euro14bn


| H12017 HIGHLIGHTS

13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






13

110 CAPITAL01


CET-1 Capital 88 86


RWAs 522 522

CET-1 ratio 169 165







8902

0 -75

2 8829

Mar17CET-1



Other Jun17CET-1

53122

-363 -511

52248

Mar17RWA



| H12017 HIGHLIGHTS


01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






01

14





















-20

-10

00

10

-025 -015 -005 005 015

leve

l

mom change

downswing expansion

contraction upswing

Jan05

July 17

12

2123

-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

qoq change

yoy change2017-2019

outlook

| H12017 HIGHLIGHTS

02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






02

15








02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






02

16


| H117 DEVELOPMENTS

amounts in eurobn

20

97

160

252

52

55

103

106

21

464

85

33

30

Other

Cash

AssetMix

Total

Securities

EFSF|ESM Bonds

Net Loans

PPE

739

100

23

474

109

3328

23

98

160

250

80

45

110

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

739

FundingMix

Jun17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

766

Mar17

Jun17

Mar17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

766

17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






17




acquiring etc)




1

2




portfolio)





4

Q217 Q117 qoq H117 H116 yoy


Net Fee Income 82 81 2 162 152 7

Trading Income 28 32 -11 60 115 -48



- excl one-off item 584 547 7 1131 1093 3

Employee Costs (143) (142) 1 (286) (297) -4





- excl one-off item 292 257 13 549 484 14





Tax 10 13 20 23 (15) -



1

2

3

5

6

5

4



| H117 DEVELOPMENTS


02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






02

18








of Q2)



contained in H1

1

2




Public Debt relief

ELA use drop offers




3

4

FY2016 H12017

Average Balance

InterestAmount

Implied Rate

AverageBalance

Interest Amount

ImpliedRate


ow EFSF bonds 151 34 023 109 6 011

ow other bonds 26 91 345 27 52 383

Net Loans 501 2300 459 480 1065 443

ow in Greece 473 2111 447 455 990 435

Other Assets 168 115 068 161 55 068

Total Assets 847 2541 300 777 1178 303



ow in Greece 379 213 056 388 99 051

Due to Banks 308 247 080 241 83 069

ow ELA 143 222 155 111 85 153




NIM 1 268 271


5

| H117 DEVELOPMENTS

1

2

3

4

5

19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






19





Gross Loans 62048 63787 66187 -3 -6


Securities 11828 14113 18577 -16 -36

- ow EFSF ΕSM Bonds 8504 10859 15474 -22 -45


Fixed Assets 2088 2307 2563 -9 -19


Other Assets 3852 3698 3752 4 3


Total Assets 73918 76647 84727 -4 -13

Due to Banks 21149 23680 31842 -11 -34

Deposits 40918 40960 38817 0 5





Total Equity 9748 9799 9929 -1 -2


1

2

3

4







1

2




4




5

5

| H117 DEVELOPMENTS


NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026







NII 403 405 0 808 -2

NFI 74 74 1 148 7


OpEx (256) (258) -1 (514) -5

PPI 290 245 18 534 17

Loan impairment (249) (255) -2 (504) 10



02

20



1

2

3

4

1

2

3

4






5

| H117 DEVELOPMENTS


Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






Business(stock)

Q216 Q316 Q416 Q117 Q217

Corporate 39 40 38 38 38

SMESBL 49 47 46 47 45

Total 44 43 42 42 41

Q216 Q316 Q416 Q117 Q217


FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Total Stock

FrontBook

Mortgages 23 39 23 38 23 42 22 31 22 30

Consumer 86 103 84 97 83 92 76 97 76 100

Business 44 51 43 60 42 44 42 44 41 51

Total 41 52 40 61 39 45 39 45 38 52

02

21


Q116 Q216 Q316 Q416 Q117 Q217

Deposits 061 053 053 051 047 046

Sight 062 057 060 059 054 052

Savings 017 013 011 010 008 008

Time 110 097 093 086 082 081

avg 3m euribor -019 -026 -030 -031 -033 -033

Loans 411 407 400 391 389 380

Mortgages 238 233 228 227 222 219

Consumer 885 862 842 831 762 755

Business 440 439 431 419 423 412




| H117 DEVELOPMENTS

03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

22



32 NPL FORMATION

33 NPL NPE MOVEMENT




37 COVERAGE METRICS


39 RBU PERIMETER




03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

23


NPLs (euromn) Jun17

Business 15566

Mortgages 4535

Consumer 2901

TOTAL 23001

NPLs (euromn) Jun17

Greece 21799

International 1202

TOTAL 23001


Group NPL Mix

| ASSET QUALITY

378395

287

496

371385

289

486


Mar17 Jun17

NPEs (euromn) Jun17

Business 24987

Mortgages 6428

Consumer 3451

TOTAL 34866

NPEs (euromn) Jun17

Greece 33207

International 1659

TOTAL 34866


Group NPE Mix

519

565

397

503523

569

408

497


Mar17 Jun17

03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

24

32 NPL FORMATION

| ASSET QUALITY

317

075

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17

321

066

-053

Q4

12

Q2

13

Q4

13

Q2

14

Q4

14

Q2

15

Q4

15

Q2

16

Q4

16

Q2

17





230

-69 -55

-256

-386

334

-254

101

-110-95-60 -40 -61

89

-12

105

-33-68 -91

3

-45

28

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17



Group Greece

371NPL ratio

370 NPL ratio

1

2

3

4


174222

-81-49

-299-336

301

-271

104

-110-96-58 -41 -69

90

-15

108

-32-68 -82

5

-44

33

-43

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17

Q3

15

Q4

15

Q1

16

Q2

16

Q3

16

Q4

16

Q1

17

Q2

17





247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






247+15

-17-02

243+12

-15-02

238 +10

-15-03

230+15

-11 -07

227 +09

-12 -06

218






Jun17

03

25

33 NPL NPE MOVEMENT

| ASSET QUALITY


-euro02bnformation

Entries Exits


Business +09 +04 -06 -06

Mortgages +05 +04 -04 -04

Consumer +01 +02 -01 -01

TOTAL +15 +09 -11 -12


Note RBU data


ΝPLs -05 -04 -06 -10 -03 -10

Impaired loans +04 -02 +02 +01 -04 +04

Forborne loans +01 +05 +02 +04 +01 00


NPE formation +03 +02 +01 -01 +01 -00

-euro03bnformation

-euro05bnformation

+euro04bnformation

increase qoq mainly

related to 2

corporate accounts

-euro03bn formation

21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






21 26 30 30 29

45


36 3739 39 37

24


03

26


| ASSET QUALITY

4 7 10 11 11

83


74 74 74 77 7716


Jun17

Consumer NPLs

Mortgage NPLs

Business NPLs


Jun17

Jun17

Jun17

Jun17



Jun17

+36 guarantees

+26 guarantees






17 25 35 40 39

67


5362 71 76 75

39


03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

27




GROUP Loans 62048 40389 15696 5964

NPL Ratio 371 385 289 486

NPL Coverage 682 751 391 765

NPE Ratio 523 569 408 497

NPE Coverage 450 468 276 643

| ASSET QUALITY



GREECE Loans 58905 38027 15330 5548

NPL Ratio 370 381 293 509

NPL Coverage 685 762 389 760

NPE Ratio 525 569 413 512

NPE Coverage 449 469 275 647


NPEF 0-30dpd47

NPEF 31-90dpd11

NPEF gt90dpd

17

PF25


Retail 35

17

19

25

32

41

45

42

56

78

79

101

109

94

260

Agriculture




Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

28 | ASSET QUALITY


352 345

523 519

GroupNPL

90dpd

ImpliedGroup

NPE

+113




Business 439 250 156 29 53 12

Mortgages 158 64 45 00 18 01

Consumer 69 35 29 01 05 00

Total 666 349 230 30 75 14


NPLs NPEs

Business 156 250 117 75 47

Mortgages 45 64 18 39 28

Consumer 29 35 22 77 64

Total 230 349 157 68 45


+178Coverage

68 68

Coverage

45 46

+45

Mar17 Jun17

Group NPL gt90dpd

Jun17 Mar17

GroupNPE


+21





03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

29

LLRs (euromn) Jun17

Business 11689

Mortgages 1775

Consumer 2220

TOTAL 15685

LLRs (euromn) Jun17

Greece 14926

International 758

TOTAL 15685

6874

40

76

6875

39

77


Q117 Q217



| ASSET QUALITY

37 COVERAGE METRICS

370

685

253

382

631

241


Greece

International

NPL mix 68 19 13

45 47

28

645965

32

706875

39

77


NPE

NPEgt0dpd

NPL


03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

30


| ASSET QUALITY

Retail Banking

CIB

Asset Management

CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Task Force



(eurobn )Balances

(eurobn)Customers

()FTEs ()

Corporate 66 04k 65

SME 27 16k 149


SB 12 19k

1437Retail 112 334k

Total 323 356k 1987




Real Estate

(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






(eurobn 30 Jun2017)

03

31

39 RBU PERIMETER

| ASSET QUALITY

206

01

205

372

254

118



lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

323

255578



restructuring)


74

06

40

84

38

06

53

22

112

12

93

106



(eurobn 30 Jun2017)

03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

32 | ASSET QUALITY


428 customers


1597 cases



1350 or 85 of total



1140 or 84 of

operating cases


operating cases

RBU portfolio



276 or 64 of total




cases


operating cases

32216 NPL cases



7512 or 27 of total


Operating cases

3845 or 51 of

denounced gt100k


denounced gt 100k






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






Viable businesses


Viable businesses


33 | ASSET QUALITY




90

73

73

82

73

96

Manufacturing

RE amp Construction

Trade

Transportation

Other


79

84

75

89

89

91

RE amp Construction

Trade

Other

Manufacturing

Τransportation


03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






03

34 | ASSET QUALITY

















04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






04

35

L I Q U I D I T Y







47 INTERBANK REPOS


04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






04

36


| LIQUIDITY

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016

Deposits

Loans

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016

ELA

ECB







euro189

euro121

euro35

euro16

116

euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016

100

150

200

250

300 Deposits


euro40

euro132


04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






04

37


| LIQUIDITY

Greek market

37 37

63 63

Jun 17 Jun 17




Mass|Farmers +10 -05 +02 +00


SB +02 -01 +02 +01

SME +02 -00 +01 -00

Corporate +06 +00 -01 +00


Total +31 -13 +01 +03


Greek market


134

-24

+08 +17 +56133

-26

+09 131 +08


Piraeus - Greece

36

-11

+04 +09 +29 39

-13

+015 38 +03


Piraeus - Greece

24 25

76 75

Jun 17 Jun 17

Business Retail


039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






039

061

009

028



04

38


| LIQUIDITY












1

2

3

Lower deposit rates

Lower ELA



Supporting NII

4

440

364

271

227

177 174

095081 073 065 061

458

404

305

262

195175

117093 089 086

081


New time deposits


291

274

204179

130105

063 052 053 049 047 046

458

404

305

262

195175

117093 089083 081 081




04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






04

39


| LIQUIDITY


Aug

ECB 141 160 111 90 45 55 52

EFSF|ESM Bonds 57 153 95 73 28 39 35

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

L3723 68 - - - - - -

Other 06 07 07 08 08 07 08

ELA - 167 127 119 110 103 85


L3723 - 57 - - - - -

Loans amp Other - 102 127 119 110 103 85

Total 141 327 238 209 155 158 137


149 151 146 160 144124 111

9045 55 52

154

222212 167

161

144127

119

110 10385

100

141

303

373 358

327304

268

238209

155 158137


ELA

ECB



1

2

3







04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026








04

40


| LIQUIDITY



ISINIssue Date

Maturity Date

CpnFace Value





Issue Date

Maturity Date

Cpn Face Value

1 19-Apr-12 19-Apr-18 6m euro +46 2340

2 19-Apr-12 19-Apr-19 6m euro +57 2340

3 19-Apr-12 19-Apr-20 6m euro +64 2340

4 19-Apr-12 19-Apr-21 6m euro +71 2240

5 19-Apr-12 19-Apr-22 6m euro +77 2240

6 19-Dec-12 19-Dec-22 6m euro +34 484

7 19-Dec-12 19-Dec-23 6m euro +35 983

8 19-Dec-12 19-Dec-24 6m euro +36 1176


Piraeus Bank eurobn

1 Q216 15

2 Q316 09

3 Q416 13

4 Q117 07

5 TOTAL 44





the banking sector



debt initiated

04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






04

41


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s


ESM

|EFS

F Ex

chan

ge









value of euro82bn



0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






0

200

400

600

800

1000

1200

1400

Mar

16

Ap

r1

6

May

17

Jun

16

Jul1

6

Au

g1

6

Sep

16

Oct

16

No

v16

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

0

2000

4000

6000

8000

10000

12000

14000

Dec

12

Mar

13

May

13

Jul1

3

Sep

13

No

v13

Jan

14

Mar

14

May

14

Jul1

4

Sep

14

No

v14

Jan

15

Mar

15

May

15

Jul1

5

Oct

15

Dec

15

Feb

16

Ap

r1

6

Jun

16

Sep

t1

6

Dec

16

Jun

17

04

42

47 INTERBANK REPOS

| LIQUIDITY










1

2

3

euro06bnJun17

4




to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026









to 31082017)


from 01092017)


Fundsbull Allowed

New Account Opening



for new customers



Additional Account

Beneficiary



Foreign Investments





withdrawn in cash




withdrawn in cash

Change of Custodian







Approval Committee


04

43


| LIQUIDITY


05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






05

44

A P P E N D I X





05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






05

45 | APPENDIX



Q217 Q117 qoq H117 H116 yoy


Net Fee Income 74 74 1 148 138 7

Banking Income 478 478 0 956 965 -1




Employee Costs (130) (130) 0 (260) (273) -5









Pre Tax Result 5 (26) - (21) 20 -

Tax 8 13 -37 21 (3) -



Q217 Q117 qoq H117 H116 yoy

33 32 3 65 67 -3

8 7 13 15 14 3

41 39 5 80 82 -2

(3) 6 - 3 14 -79

38 44 -14 83 96 -14

38 44 -14 83 96 -14

(13) (13) 4 (26) (24) 6

(20) (16) 22 (36) (39) -6

(3) (3) 5 (6) (7) -21

(36) (32) 13 (68) (70) -3

2 13 -83 15 25 -42

2 13 -83 15 25 -42

(1) 1 - 0 0 -

(10) (5) - (14) (34) -59

(2) (4) -48 (5) (10) -48

(10) 6 - (4) (19) -78

2 0 - 2 (12) -

(8) 6 - (2) (31) -

(51) 1 - (51) (27) -

05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






05

46 | APPENDIX




Group 66187 65399 64947 63787 62048 -6 -3

Business 43142 42582 42511 41719 40389 -6 -3

Mortgages 16427 16273 16162 15950 15696 -4 -2

Consumer 6617 6544 6274 6118 5964 -10 -3

Greece 62250 61547 61296 60216 58905 -5 -2

Business 40185 39694 39792 39069 38027 -5 -3

Mortgages 15959 15810 15707 15502 15330 -4 -1

Consumer 6106 6043 5797 5646 5548 -9 -2

Intrsquol 3936 3852 3650 3571 3143 -20 -12

Business 2957 2887 2719 2650 2362 -20 -11

Mortgages 468 463 455 448 366 -22 -18

Consumer 511 501 476 472 416 -19 -12



Group 38817 39694 42365 40960 40918 5 0

Savings 14597 14138 14995 14294 14379 -1 1

Sight 9140 9592 11190 10676 10860 19 2

Time 15080 15964 16179 15990 15679 4 -2

Greece 35925 36786 39322 38036 38185 6 0

Savings 14292 13798 14613 14001 14069 -2 0

Sight 8648 9051 10536 9964 10123 17 2

Time 12985 13938 14172 14071 13993 8 -1

Intrsquol 2892 2908 3043 2924 2733 -5 -7

Savings 305 341 382 293 310 2 6

Sight 491 541 654 712 737 50 4

Time 2095 2026 2007 1919 1686 -20 -12


05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






05

47 | APPENDIX


Albania

BulgariaRomania

Ukraine

London Frankfurt

Branches () 98

Employees () 1300

Assets 1522

Net loans 729

Deposits 942

Branches () 73

Employees () 927

Assets 1520

Net loans 719

Deposits 1125

Branches () 18

Employees () 444

Assets 118

Net loans 43

Deposits 49

Branches () 39

Employees () 447

Assets 603

Net loans 187

Deposits 453

Branch () 1

Employees () 19

Assets 864

Net loans 656

Deposits 24

Branch () 1

Employees () 12

Assets 176

Net loans 21

Deposits 140


Branches

Branches () 230

Employees () 3149

Assets euro48bn

Net loans euro24bn

Deposits euro27bn




Albania 55 61

Bulgaria 30 30

Romania 15 12

Ukraine 02 02

Subsidiaries


| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026







| APPENDIX48



Real GDP

( yoy)

Inflation

( yoy CPI)

Fiscal Balance

( GDP)

Current Account

Balance ( GDP)

2015 2016 2017f 2015 2016 2017f 2015 2016 2017f 2015 2016 2017f

Albania 26 34 35 19 13 25 -40 -18 -15 -108 -120 -125

Bulgaria 36 34 29 -10 -13 10 -28 16 -10 -01 42 20

Cyprus 17 28 30 -15 -12 05 -14 -03 -02 -30 -24 -22

Romania 39 48 45 -06 -15 14 -15 -24 -30 -12 -24 -26

Serbia 07 28 29 14 11 27 -38 -13 -14 -48 -40 -41

Ukraine -99 23 19 487 139 110 -12 -22 -35 -03 -36 -35





-16

-14

-12

-10

-8

-6

-4

-2

0

2

4

6

8


of GDP

-10

-8

-6

-4

-2

0

2

4

6

8

10

Q2

20

08

Q3

20

08

Q4

20

08

Q1

20

09

Q2

20

09

Q3

20

09

Q4

20

09

Q1

20

10

Q2

20

10

Q3

20

10

Q4

20

10

Q1

20

11

Q2

20

11

Q3

20

11

Q4

20

11

Q1

20

12

Q2

20

12

Q3

20

12

Q4

20

12

Q1

20

13

Q2

20

13

Q3

20

13

Q4

20

13

Q1

20

14

Q2

20

14

Q3

20

14

Q4

20

14

Q1

20

15

Q2

20

15

Q3

20

15

Q4

20

15

Q1

20

16

Q2

20

16

Q3

20

16

Q4

20

16

Q1

20

17

Q2

20

17

20

17

YoY


4

6

8

10

12

14

16

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017



49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026







49











As in item 5








| GLOSSARY


50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026







50



As in item 15











| GLOSSARY

51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






51

COMMUNICATION


Tel (+30 ) 210 3335062 3288332 3335026






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