Greek lender Eurobank, the largest of the four systemic banks in the country based on market value, on Monday reported lower net profits in the first half of 2023, citing higher provisions, compared to the corresponding period of 2022.
Specifically, ATHEX-listed Eurobank reported net earnings of 684 million euros in H1 2023, down from 941 million euros in H1 2022.
In addressing bank analysts in tandem with the announced results, Eurobank CEO Fokion Karavias stressed that the priority for the group’s management is to reward shareholders through a dividend distribution from the seven-year earnings, citing a target of a 25-percent return of net profits in 2023 to shareholders.
At the same time, he clarified that surplus capital will be exploited gradually, both for dividends and to expand assets.
On the back of the release of its Q2 2023 results, Eurobank also revised, upwards, its 2023 results forecast.
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