Ιn response to journalist's questions regarding Piraeus Bank's evolution of business activities, profitability and liquidity, the Vice Chairman & Managing Director, George Provopoulos, made the following comments:
-The growth rates of both volumes and profitability of the Group in 2007 were above the planned targets.
-The achievement of the 2007 targets, i.e. the first year of the 2007-2010 Business Plan, consists a solid base and confirms our Business Plan goals' are attainable, forecasting a net profit of 1.2 bn euro in 2010.
-It is a fact that during the last quarter of 2007, the deposits growth rate accelerated, exceeding 33% on an annual basis. It is indicative that the quarterly deposits growth in absolute figures surpassed the respective loan growth.
-It's clear that the problems faced by a lot of international banks with regards to the current credit turmoil do not concern Greek banks. This is due to the fact that the latter are not exposed to the related risks of the sub-prime loans market, as well as to any related products.
-Piraeus Bank has today a solid capital base and liquidity which allows it to continue the growth rates depicted on its Business Plan targets. The significant growth of customer deposits, coupled with the recent capital increase of the Bank amounting to 1.35 billion euro, ensure the uninterrupted funding of our Plan.