KASUS KELOMPOK 11

ANALISIS KINERJA PERBANKAN

KELOMPOK 11
Bima Setiaji N.
Iman Sabakti B.

F0212024
F0212054

Sugeng Riyadi

F0212104

FAKULTAS EKONOMI DAN

BISNIS _
UNIVERSITAS SEBELAS MARET

SURAKARTA _

Greece's National Bank swings to Q4 loss on bad

debt provisions.

ATHENS, March 23 (Reuters) - Greece's largest

lender by assets National Bank (NBG) swung to a
loss in the fourth quarter as higher provisions for
impaired loans weighed on its bottom line.
Greek banks, already hit hard by the country's
debt crisis, have suffered further in recent months
as rising political tensions and fears of a Greek
euro zone exit prompted savers to pull deposits,
squeezing liquidity levels.
NBG, which also has operations in the Balkans
including Bulgaria and Romania, reported a net
loss of 1.11 billion euros ($1.21 billion) versus a
profit of 30 million euros in the third quarter as
loan-loss provisions and other one-off charges
reached 1.47 billion euros.
For the full year 2014, NBG reported net profit of
66 million euros versus net earnings of 809
million euros in 2013.
Deposit flight has left Greek banks dependent on
emergency liquidity assistance (ELA) from the
domestic central bank, funding which is costlier
than direct borrowing from the European Central
Bank and eats into their net interest margins.

In total, Greek banks' borrowing from the ECB and

the Bank of Greece hit 104.3 billion euros in
February, equivalent to about 57 percent of Greek
gross domestic product.
NBG said deposits in Greece shrank by 2.2 billion
euros in the fourth quarter. Its total exposure to
central bank funding, including the ECB, reached
23 billion euros as of mid-March, of which 13.3
billion euros was ELA borrowing.
The bank's cash cow, Finansbank in Turkey,
contributed 62 million euros to group earnings in
the fourth quarter, down from 109 million euros in
the previous quarter.
NBG and Greece's other big banks are still
troubled by large problem loan portfolios after
recession pushed unemployment to record highs
and continue to make provisions to cover bad
loans.
NBG, 57.2 percent owned by Greece's HFSF bank
rescue fund, said non-performing credit edged up
to 24 percent of its loan book at end-December
from 23.4 percent in the third quarter.
The bank's board named Leonidas Fragiadakis,
head of its treasury operations, as the new chief
executive to succeed Alexandros Tourkolias. It also
picked former minister Louka Katseli as its new
board president, as expected. (Reporting by
George Georgiopoulos, editing by Deepa
Babington and David Evans)