PIRAEUS BANK GROUP PRESENTATION/media/Com/2018/Files/investo… · Economic Sentiment Indicator (left axis) PMI Manufacturing (right axis) Economic Sentiment Indicator (ESI) & Manufacturing

November 2017

PIRAEUS BANK GROUP

PRESENTATIONBASED ON FY17 FINANCIAL RESULTS

28 March 2018

TABLE OF CONTENTS

01 EXECUTIVE SUMMARY

02 FINANCIAL PERFORMANCE

03 ASSET QUALITY

04 IFRS9

05 LIQUIDITY

06 APPENDIΧ

01E X EC U T I V E S U M M A RY

01

4

11 IMPROVING OUTLOOK FOR THE GREEK ECONOMY

| EXECUTIVE SUMMARY

Sources ELSTAT BoG Bloomberg Piraeus Bank Economic Research

Real Estate Prices Stabilizing (change yoy )

-160

-140

-120

-100

-80

-60

-40

-20

00

20

40

60

H1

09

H2

09

H1

10

H2

10

H1

11

H2

11

H1

12

H2

12

H1

13

H2

13

H1

14

H2

14

H1

15

H2

15

H1

16

H2

16

H1

17

H2

17

House Prices Office Prices (Athens) Retail Prices (Athens)

21 23

-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

Q2

17

Q3

17

Q4

17

QoQ change YoY change

2018-2019

outlook

Real GDP Returns to Growth Trajectory (2017 +14)

Unemployment Rate Fallen Significantly

197180

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

35

40

45

50

55

75

80

85

90

95

100

105

110

115

Q2

04Q

404

Q2

05Q

405

Q2

06Q

406

Q2

07Q

407

Q2

08Q

408

Q2

09Q

409

Q2

10Q

410

Q2

11Q

411

Q2

12Q

412

Q2

13Q

413

Q2

14Q

414

Q2

15Q

415

Q2

16Q

416

Q2

17Q

417

Economic Sentiment Indicator (left axis) PMI Manufacturing (right axis)

Economic Sentiment Indicator (ESI) amp Manufacturing PMI Point to Improving GDP Dynamics

5

12 2017 | PROGRESS ACROSS THE BOARD01

| EXECUTIVE SUMMARY

1 Outperformed asset quality targets strengthened coverage accelerated clean-up

NPEs down by euro30bn NPLs by euro37bn yoy Coverage up to 52 amp 83 respectively

2

Upgraded operating efficiency

Cost optimization with OpEx -3 and GampA costs -6 yoy3

Improved liquidity profile and enhanced funding mix

Deposits +euro27bn in H2 at euro41bn while ELA dropped by euro6bn yoy to euro57bn

4 Divested non-core assets (Serbia Romania Avis Hellas and Hellenic Seaways)

5 Reinvigorated governance amp executive team New era for the Bank

6

01

| EXECUTIVE SUMMARY

13 PIRAEUS BANKrsquoS STRATEGIC FOCUS

Streamlining of business to pave the way for continuing de-risking

bull Restructuring Plan conclusion

bull ELA reliance elimination

bull Inorganic initiatives for NPLs

bull Growth in Core Bank

bull Cost optimization

bull Digitization acceleration

Improved PPI and normalized

provisioning to show earning

power

bull Medium-term targets to be achieved as per the ldquoAgenda 2020rdquo strategic plan

bull Strong potential for growth on the back of new loan generation

bull Sustainable healthy returns

Significant strides forward in using our strong capital base to strengthen reserves

bull Best-in-class NPL reduction

bull Q4 provisioning clean-up

bull IFRS9 boost to coverage ratio

bull Viable restructurings amp increased

collections for NPENPL portfolio

bull Superior deposit growth

2019 - 202020182017

7

14 BALANCE SHEET IMPROVEMENT | GREECE01

| EXECUTIVE SUMMARY

Greece eurobn Dec16 Dec17 yoy

Assets(1) 760 616 -19

Gross Loans 613 566 -3(2)

Net Loans 453 400 -5(2)

Loan Loss Reserves(3) 160 166 3

Customer Deposits 393 409 4

Eurosystem Funding 209 97 -53

98 LDR ratioenhanced liquidity

ELA 10 over assets vs 20

in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017

Note assets adjusted for discontinued operations EFSF bonds already sold and seasonal agri-loan repaid in early 2018 LDR ratio pro-forma for IFRS9 1st Jan18 impact

(1) difference mainly attributed to the exchange of EFSFESM bonds (euro12bn) inthe framework of short-term debt relief measures for the Greek State

(2) change rate for loans adjusted for write-offs and FX movement as well asseasonal agri-loan to OPEKEPE

(3) LLRs pro-forma for IFRS9 1st Jan18 impact

8

15 ENHANCED OPERATIONAL PERFORMANCE | GREECE01

| EXECUTIVE SUMMARY

Greece euromn Dec16 Dec17 yoy

NII amp NFI 1959 1934 -1

Net Revenues 2018 2059 2

Operating Expenses 1111 1078 -3

Pre Provision Income 908 982 8

Impairments 1074 2067 92

Net results Attrib to SHs 78 57 -27

271bps NIMresilient vs 2016

52 CIfurther improved

annually

53bps NFI over assets +10 yoy

46 CoRover net loans

increasing coverage

Note assets adjusted for discontinued operations EFSF bonds already sold and seasonal agri-loan repaid in early 2018

Note PampL figures for 2016 exclude extraordinary financial gain of euro77mn from the saleof stake in Visa Europe while for 2017 they exclude one-time employee cost ofeuro16mn Deferred tax of euro12bn for 2017

01

9

16 OUTPERFORMANCE ON ASSET QUALITY

| EXECUTIVE SUMMARY

279 269244

207

Sep15 Dec15 Dec16 Dec17

17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100

Group NPL Development (eurobn)

Group NPE Development (eurobn)

Achieved NPEreduction target

-euro02bnQ417 pre write-off

ΝPE formation

euro30bnNPE reduction in the last 12 months

euro48bnNPE reduction from Sep15 peak

Achieved NPLreduction target


ΝPL formation

euro37bn NPL reductionin the last 12 months

euro72bnNPL reduction from Sep15 peak

-8

-2

-9-15

Coverage

Coverage

124

01

10

17 INCREASED PACE OF NPE amp NPL REDUCTION

| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17

Βank NPE Track Record (eurobn)

244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17

Bank NPL Track Record (eurobn)

Piraeus reduced parent stock of NPE by 8 from Jun16 to Dec17 recorded euro12bn reduction in H217

Piraeus reduced parent stock of NPL by 19 from Jun16 to Dec17 recorded euro20bnreduction in H217

01

11

18 NPL amp NPE OPERATIONAL TARGETS

| EXECUTIVE SUMMARY

198149

104

116

109

99

Dec2017a Dec2018f Dec2019f

Piraeus aims to further reduce parent stock of

NPEs by 35 from Dec17 to Dec19

The reduction by 2019 will be driven by

bull restructuringsbull collectionsbull liquidations

bull debt forgivenessbull write-offsbull sales

Reduction will be achieved through

NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00

-euro75bn -euro35bn-203

Dec17 organic effort inorganic effort 2020restructurings curings

liquidations collections sales

12

19 ONGOING NPL SALES01

| EXECUTIVE SUMMARY

Project ldquoSUNSHINErdquo

bull Sale of ceuro02bn (legal claim) Romanian unsecured business NPLs

bull Unsecured business NPLs consisting

of deficiency claims remaining after

foreclosure on available collateral and

with recourse to personal guarantees

available in many cases

bull 150 borrowers 98 borrowers with exposures of lteuro1mn

bull PWC acts as financial advisor

bull Binding offers submitted by 3 investors

bull The transaction was signed on 22December 2017

Project ldquoAMOEBArdquo

bull Sale of ceuro20bn (legal claim) secured large SME and corporate (mainly denounced) NPLs

bull Servicing entity established by the

Bank available for sale to capital

providers

bull 180 borrowers 1737 properties

bull UBS acts as financial advisor

bull c30 signed NDAs with international

investors

bull Non binding offers submitted on 9

February by 12 investors

bull Sale of ceuro23bn (legal claim) unsecured denounced consumer NPLs

bull Unsecured personal loans and

credit cards

bull 132k borrowers 43 of accounts in euro1-5k bucket

bull EY acts as financial advisor

bull c23 signed NDAs with international investors

bull Non binding offers submitted on 14March by 6 investors

Project ldquoARCTOSrdquo

13

110 IMPROVED LIQUIDITY amp FUNDING POSITION01

| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167

Dec14 Jun15 Dec15 Dec16 H117 H217 Dec17

Domestic Deposits (eurobn)

ELA Funding (eurobn)

351 361393

-11

+27 409495


bull Positive deposit movement in Q4

bull Deposits stable in Q1 despite seasonality

market share 289 (Jun17)

295(Dec17)

bull Eurosystem funding decreased by euro23bn in Q417 by euro112bn in FY17

bull Repos in Q4 with non-ECB eligible collateral at euro16bn

bull ELA use has dropped further to lteuro20bn in late Mar18

14

111 IFRS9 FIRST TIME ADOPTION 01

| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma

Tangible Book Value 71 55

Tangible Book Value per Share (euro) 162 125

Loan Loss Reserves (LLRs) 155 171

LLRs over Gross Loans () 265 292

Risk Weighted Assets () 491 486

CET1 phased-in () 157 154

First time adoption impact of IFRS9 marginally affects

the phased-in CET1 ratio while significantly boosting

troubled portfolio cash coverage

securities SPPI amp other () excluding seasonal agri-loan() pro-forma for asset disposals under way

15

112 IFRS9 amp Q417 COST OF RISK INCREASED COVERAGE 01

| EXECUTIVE SUMMARY

7075 83

Sep17 Dec17 Dec17 (IFRS9)

Preliminary IFRS9 First Time Adoption (FTA) impact at euro1621mn

4647 52


NPE Coverage NPL Coverage(gt90 dpd)

() Dec17 (iFRS9) ratios 52 and 83 are pro-forma for 1st Jan2018 FTA impact

16

113 SOUND CAPITAL RATIOS01

| EXECUTIVE SUMMARY

euro bn | Dec171st Jan18

pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154

CET-1 | Phased-In Ratio

SREP Capital Requirement (TSCR)

Piraeus Bank maintains capital ratios

in excess of SREP capital requirements

IFRS9 adoption has a 25bps impact on

phased-in CET1 ratio in 2018

2017 2018

Pillar I CET1 450 450

Pillar 2 Requirement (P2R) 375 375

AT1 150 150

T2 200 200

Total SREP Capital Requirement (TSCR) 1175 1175

Conservation buffer (CB) 125 1875

Overall Capital Requirement (OCR) 1300 13625

Note ratios pro-forma for asset disposals under way

17

114 UPGRADED OPERATING EFFICIENCY01

| EXECUTIVE SUMMARY

16

1311

~09

Cost-to-income ratio

~4055

2016 2020bull ldquoProject Horizonrdquo was commenced

in Q417 to re-invent the

operational model of the Bank

bull 14 key initiatives to reduce the

cost base in Greece by gteuro200mn

during 2018-2020

Wholesale efficiency

gains

Retail efficiency

gains2016 2020

Effects of cost initiativeseurobn 2017-2020

53

2017

2017

Cost savings of more than euro200mn for the 3-year period 2018-2020

77

2013

2013Reshape

corporate functions

Redesign core

processes

Procurement efficiency

gains

18

115 SEPARATE BUSINESS MODELS TO ENSURE VALUE CREATION01

| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0

Decisive Actions on Legacy IssuesEfficiency amp Risk-Adjusted Return

ldquoPiraeus Core Bankrdquo ldquoPiraeus Legacy Unitrdquo

eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11

() RWA and Net Loans for FY17 pro-forma for 1st Jan2018 first time adoption impact

19

116 ldquoAGENDA 2020rdquo GROUP TARGETS01

| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA

Note data on a recurring basis ratios over assets (NIM NFI PPI RoA) calculated with estimate for ceuro65bn assets

117 PIRAEUS BANK | TRANSFORMATION JOURNEY01

| EXECUTIVE SUMMARY20

Profit Generation in the Core

bull Loan demand improvement bull Risk-adjusted growth of revenues

bull Cost efficiencybull Customer growth

Asset Resolution in the PLU

bull NPE|NPL reduction bull Sustainable solutionsbull Clean-up acceleration

bull Divestitures of non-core assets

Bank Restructuring

bull Corporate governance strengthenedbull New management structure establishedbull Piraeus Legacy Unit establishedbull New corporate culture

02F I N A N C I A L S02F I N A N C I A L S02F I N A N C I A L P E R F O R M A N CE

02

22

21 ASSETS amp LIABILITIES OVERVIEW

| FINANCIAL PERFORMANCE

136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23

22 GROUP BALANCE SHEET DE-RISKING AND LIQUIDITY IMPROVEMENT 02


Group Balance Sheet (euromn)

Dec16 Sep17 Dec17 qoq yoy

CashBalances with Central Banks 1527 1929 1449 -55 -53

Loans amp Advances to Banks 1664 1429 2148 - -

Gross Loans 66648 61035 60260 -1 -10

(Loan Loss Reserves) (16941) (15372) (15541) 1 -8

Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89

Intangibles amp Goodwill 282 276 301 9 7

Fixed Assets 2710 2142 2180 2 -20

Deferred Tax Assets 5318 5339 6543 23 23

Other Assets 3874 3758 3824 2 -1

Assets of Discontinued Operations 3 986 2284 - -

Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1

Debt Securities 70 65 435 - -

Other Liabilities 2224 1724 1655 -4 -25

Liabilities of Discontinued Ops 1 465 1641 - -

Total Liabilities 71681 58450 57888 -1 -19

Total Equity 9824 9724 9544 -2 -3

Total Liabilities amp Equity 81504 68174 67417 -1 -17

1

2

3

4

Participation in ΕCBrsquos QE programme with euro07bn in early

2017 In FY2017 euro118bn of EFSFESM bonds have been

exchanged (short term measures for Greek debt relief)

3 Eurosystem funding at euro97bn in Dec17 down euro112bn yoy

ΕFSF repos balance to zero in Nov17 other repos with non

ECB eligible collateral at euro16bn

1

2

Customer deposits up euro18bn qoq in Greece continuing the

upward trend started in mid 2017

4

Q417 change in gross loans reflects acceleration in

deleveraging trend euro06bn write-offs in Q417 seasonal

agri-loan of euro16bn at year-end 2017 already repaid

24

23 GROUP PampL HIGHLIGHTS STRONG FEE INCOME amp COST CONTAINMENT ALONG WITH PROVISION CLEAN UP02


Group Profit amp Loss (euromn)

FY17 OpEx decreased by 3 yoy excluding the

extraordinary cost associated with 2017 VES The qoq

increase was in line with seasonal year-end OpEx accrual

1

2

On a recurring basis core banking income modestly

decreased by 3 yoy in FY17 driven by consistently

strong NFI which offset the decline in NII resulting from

asset deleveraging

Increase in Q417 loan impairment further improved

provision coverage ahead of IFRS9 implementation

3

Total net revenues for FY17 on a recurring basis slightly

decreased by 1 yoy

4

Q317 Q417 qoq Q416 yoy FY16 FY17 yoy

Net Interest Income 421 398 -5 443 -10 1765 1670 -5

Net Fee Income (recurring) 89 87 -2 87 0 309 334 8

- persistency fee 35 - - - - - 35 -

Core Banking Income 545 485 -11 530 -8 2073 2040 -2

Core Banking Income (recurring) 510 485 -5 530 -8 2073 2005 -3

Trading Income (recurring) 17 (2) - 36 - 79 73 -8

- one-time trading income - - - - - 77 - -

Other Income 8 1 - (10) - (3) 46 -

Total Net Revenues 570 484 -15 556 -13 2226 2158 -3

Total Net Revenues (recurring) 535 484 -9 556 -13 2150 2123 -1

Employee Costs (recurring) (133) (141) 6 (139) 2 (556) (546) -2

- one-time employee cost - (16) - - - - (16) -

Administrative Expenses (117) (154) 32 (157) -2 (535) (501) -6

Depreciation amp Other (25) (29) 17 (25) 17 (99) (103) 4

Total Operating Costs (274) (341) 24 (321) 6 1189 1166 -2

Total Operating Costs (recurring) (274) (324) 18 (321) 1 1189 1150 -3

Pre Provision Income 296 144 -51 235 -39 1037 992 -4

Pre Provision Income (recurring) 261 160 -39 235 -32 960 973 1

Result from Associates 4 (8) - (10) - (18) (31) -

Impairment on Loans (312) (1182) - (306) - (1004) (2013) -

Impairment on Other Assets (8) (124) - (109) - (166) (156) -6

Profit Before Tax (20) (1170) - (190) - (151) (1208) -

Tax 2 1180 - 189 - 182 1206 -

Net SHs Profit from Continuing Ops (17) 12 - 2 - 37 2 -

Discontinued Ops Result 4 (124) - (17) - (72) (202) -

1

2

3

5

54

FY17 Group recurring PPI increased by 1 yoy driven by

some pressure on NII strongly growing NFI and progress

on cost reduction

25

24 PIRAEUS CORE BANK AND PIRAEUS LEGACY UNIT (FY2017 PROFORMA FOR IFRS9 1st JAN18 FTA)02


PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0

A Balance Sheet (eurobn)

1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues

5 Operating expenses

6 Pre provision income

7 Impairments

8 Net income attrib to SHs

C Ratios

8 NIM over assets

9 NFampCI over assets

10 Cost-to-income ratio

11 Cost of risk (over net loans)

12 Loan-to-deposit ratio

13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA

PLU includes RBU international operations REO holdings discontinued operations and non-core Greek subsidiaries NPE ratios calculated over on-balance sheet exposuresnm non meaningful

PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11

02 25 DOMESTIC PampL


Note PampL figures for 2016 exclude extraordinary financial gain of euro77mn from the sale of stake in Visa Europe in Q2while for 2017 they exclude persistency fee of euro35mn in Q3 and one-time employee cost of euro16mn in Q4

26



Net Fee Income 84 81 -3 82 -1 294 313 6

Core banking income 485 458 -6 500 -8 1959 1899 -3

Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4

Impairment on loans (296) (1128) - (290) - (933) (1928) -

Pre tax result (11) (1100) - (175) - (108) (1131) -

SHs PAT from cont ops (11) 66 - 18 - 78 57 -27

Greek Operations (euromn)

2

3

1

2

3

Core banking income had a 3 decline on a yearly basis on the back of NII trend

OpEx decreased in FY17 by 3 yoy on the back of containment of administrative expenses and crystallization from 2016 VES benefit

Pre provision income at euro947mn in FY17 increased by 4 yoy on a recurring basis

1

02

27

26 NET INTEREST INCOME SUPPORTED BY LOWER FUNDING COSTS

Slight pressure in domestic portfolio attributed to loan

restructurings while front book rates remain elevated

versus legacy portfolio

Income stemming mainly from Greek Bonds and T-bills

exposure (euro17bn at the end of Q417)

Domestic deposit cost further contained throughout FY17

1

2

Lower EFSFESM balances due to 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

2016 2017

Fixed Income Securities 117 103

ow EFSF bonds 34 8

ow other bonds 82 96

Net Loans 2241 2041

ow in Greece 2123 1937

Other Assets 112 103

Interest Income 2470 2247

Customer Deposits 232 204


Due to Banks 247 131

ow ELA 222 144

Other Liabilities amp Equity 237 242

Interest Expense 716 577

Net interest Income 1753 1670

NIM 1 275 269

1 on assets excluding EFSFESM bonds and discontinued operations

5

1

2

3

4

5


Net Interest Income Decomposition (euromn)

02

28

27 DOMESTIC LOAN PORTFOLIO YIELDS FRONT BOOK PRICING AT HIGHER LEVELS


Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407

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

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

Loan Rates New Loans

FY17 Total Stock Front Book FY17

Mortgages 22 32 euro01bn

Consumer 74 96 euro01bn

Business 41 49 euro25bn

Total 38 50 euro27bn

Loan Rates Front Book Rates Steadily Above Legacy Book

FY17

Business Loan Rates Total Stock Front Book

Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29

28 COST OF RISK INCREASING COVERAGE IN Q417


Provision Expenses (euromn) Q317 Q417

Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group

Increased Q4 impairment

- strengthening of our coverage levels to

facilitate the NPLNPE deleverage strategy

of period 2018-2019

02

30

29 DEFERRED TAX ASSETS ANALYSIS (31 DEC 2017)


DTA (in eurobn) TypeAmortization

Period

Reliant on future

ProfitabilityCapital Treatment

a 40 deferred tax credit

100 risk weight13 i PSI related 30 years No

27 ii loan losses related no time limit No

b 19loan losses and other arising from temporary differences

no time limit Yes250 risk weight up to 10 of CET1

Any excess deducted from CET1(80 phase in 2017 100 in 2018)

c 06tax losses not arising from temporary differences

5 Years Yes Fully deducted from CET1

() 25 years remaining

5237

68 75

Piraeus Peer1 Peer2 Peer3

DTC over CET1 |

bull Piraeus did not realize any capital benefit from Q4 DTA recognition

bull Ratio of DTCCET-1 remains below domestic peer average

0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms

bull The backbone of the Greek non-financial business economy is SMEs

bull 87 of employment is engaged to Greek SMEs vs the EU average 67

bull The average Greek SME is smaller than the EU since it employs 28 persons against the average 39 persons of an EU SME

bull The total value added produced by Greek SMEs outperform the EU average by 164 to 732

bull Greek SMEs seem to have started rebound from the economic crisis

31

210 SMEs | FIRST POSITIVE DEVELOPMENTS

Greece

02Greece versus European Union SMEs figures

European Union

Source European Commission SME Performance Review Annual report on EuropeanSMEs 201617 amp Greece 2017 SBA Fact Sheet Piraeus Bank Research


SMEs | Piraeus Penetration

SMEs | Loan Disbursements (eurobn)

Piraeus Bank holds a dominant position in the SMEs market

bull 80 of the SMEs market are customers of Piraeus Bank

bull Cross sell ratio for SMEs at 59x vs 36x Piraeus corporate clients

80

20

PBs customers Other customers

568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms

03A S S E T Q UA L I T Y

03

33

31 GROUP NPE amp NPL RATIOS TRENDING LOWER

| ASSET QUALITY

Note NPE on balance sheet data Dec17 excluding Piraeus Bank Romania excluding seasonal agri-loan

NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721

Group NPL Ratio per Product Category

Group NPL Mix

362373

289

473

353 359

292

485

Total Business Mortgages Consumer

Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856

Group NPE Ratio per Product Category

Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199

Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17

03

34

32 DOMESTIC NPL FORMATION LEADING INDICATOR FOR NPE TRAJECTORY

| ASSET QUALITY

347

317


NPE Stock Development (eurobn)

-euro30bnNPEpeak

NPE Pre Write-off Formation (eurobn)

04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

Note NPE data is on balance sheet

04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn

NPL Stock Development (eurobn)

Impacted by 2 corporate accounts

NPL Pre Write-off Formation (eurobn)

35

33 NPE MANAGEMENT RESULTS PERMIT OPTIMISM AROUND 2018-2019 TARGETS 03

| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)

Curing RestructuringLiquidationsCollections

Write-offs

NPEs euro338 euro333 euro326

Q416 Q117 Q217

02

04

Required effort per quarter on

average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417


euro02bneuro05bneuro01bneuro02bn

36

34 ΝPE REDUCTION TARGET FOR THE FIRST YEAR OF THE PLAN ACHIEVED03

| ASSET QUALITY

amounts in eurobn Jun16 - Dec17

Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)

ow Restructurings (28) (30) 03

ow Collections (16) (11) (05)

ow Liquidations (04) (04) -

Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)

NPEs Jun16-Dec17 Actual Performance vs Target

A new set of products was introduced in

early summer in order to reduce redefaults

Better οverall NPE performance versus target

due to higher curings and collections

Note parent data for all figures

The actions of the Bank regarding

liquidations were in line with the target

03

37

35 SIZEABLE CURING POTENTIAL FROM FORBORNE LOANS UNDER PROBATION

| ASSET QUALITY

(eurobn) 0 dpd 1-89dpd NPLs NPEs

Business 73 24 136 233

Mortgages 10 08 44 63

Consumer 03 02 27 32

TOTAL 87 34 207 329

NPEs per Bucket (Dec17)

52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL

Cash Coverage Ratio per Product and Status (Dec17 IFRS9)

Forborne Loans (Dec17 euro148bn)

NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25

euro64bn forborne with 0dpd

bull ow euro42bn with less than 12 months since restructuring

NPΕ mix 27 10 63 100

Notes NPE data is on balance sheetLLRs pro-forma for IFRS9 1st Jan18 impact

[1] [2] [3] [1+2+3]

pace of NPE exits from restructurings evidently to be accelerated

bull euro05bn in Q417 vs euro03bn target

bull euro04bn est 2018 per quarter on average


03

38

36 PRE WRITE-OFF FORMATION IN NEGATIVE TERRITORY IN Q417

| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Greek NPL Formation by Segment

Notes pre write-off quarterly NPL formation in euromn NPE on balance sheet data

Greek NPE Formation by Segment

Business Mortgages Consumer

334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

NPE formation has turned negative in Retail while volatility remains in business segment

NPL formation has remained clearly negative in all

segments paving the way for NPE reduction to

follow


03

39 | ASSET QUALITY

37 STRONG AND INCREASED COVERAGE IN ALL SEGMENTS

LLRs (euromn) Dec17LLR

Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293

International 519 256

TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9

NPE Coverage Ratio per Product NPL Coverage Ratio per Product

Group LLRs at 29 Over Loans (IFRS9)

NPL mix 66 21 13

Total NPEs coverage ratio at 101 for business portfolio including

tangible collateral

Strong NPL coverage ratio at 92 for the business portfolio that

comprise 66 of total NPL stock

Cumulative provisions at 29 over Group gross loans

46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10

Notes NPE on balance sheet dataDec17 excluding Piraeus Bank Romania excluding seasonal agri-loanLLRs pro-forma for IFRS9 1st Jan18 impact

03

40

38 NPE STOCK INCLUDES euro87ΒΝ OF LOANS WITH ZERO DAYS OF ARREARS

| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141

Piraeus Group NPL to NPE Reconciliation (Dec2017) Piraeus Group NPL-NPE-LLR Data per Product (Dec2017)

eurobn Exposures NPEs NPLs Performing

Impaired Forborne Contagion

Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07

eurobn NPEs NPLs LLRsCoverage

NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE

Impaired ContagionForborne

+11

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

euro87bn out of euro121bn 0 dpd

Notes NPE on balance sheet dataProvisions include pro-forma IFRS 9 1ST Jan18 first time adoption

9716

Cash coverage Tangible collateralcoverage

03

41

39 CASH COVERAGE AUGMENTED BY COLLATERAL

| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100

Total NPEs coverage at 100

(on top personal guarantees)

+ corporate and personal guarantees

+ personal guarantees





Total NPLs coverage at 124

(on top personal guarantees)31

67


44

66


Notes collateral capped at loan amountProvisions including pro-forma IFRS9 1st Jan18 first time adoption

14

16

25

32

42

43

43

57

76

76

103

113

94

265

Other service activities

Agriculture

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

42

310 LOAN PORTFOLIO DIVERSIFICATION

Loans KPIs per Segment (Dec2017) Domestic Loan Composition (Dec2017 )

in euromn | TOTAL Business Mortgages Consumer

GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36

Notes NPE on balance sheet dataProvisions including pro-forma IFRS9 1st Jan18 first time adoption

43

311 PIRAEUS REO ONLINE PLATFORM PROGRESS03Piraeus Bank was the 1st Bank to launch the innovative site wwwProperties4salegr achieving the sale of REO assets

through online amp publicly accessible auctions

1st Auction | 29 properties sold at 15 discount to market values

2nd Auction | 29 properties sold at 9 discount to market values

3rd Auction | 26 properties sold at 15 discount to market values 2

01

7

4th Auction | 33 properties sold at 45 discount to market values

TypeMarket Price

(euromn)Bid Price

(euromn)Delta

1st Auction 36 30 -15

2nd Auction 72 66 -9

3rd Auction 45 38 -15

4th Auction 40 38 -45

Total 193 172 -11

gtgt Residential 1353 1213 -10

gtgt Commercial 519 450 -13

gtgt Land plots 061 058 -5

Online Auctions | Results to Date

2017 2018

1st Auction 2nd Auction 3rd Auction 4th Auction

27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18

of properties 58 57 48 49

of registered users ~2900 ~5000 gt6000 gt8500

of properties that received bids 39 (67) 41 (72) 35 (73) 37 (76)

of bids from total bidders 196 (80 bidders) 230 (86 bidders) 196 (74 bidders) 206 (73 bidders)

of the assets with approved bids 50 (29 properties) 51 (29 properties) 54 (26 properties) 67 (33 properties)

of properties received ldquoBuy Nowrdquo offers 939 1341 635 1337

20

18

Planned Auctions | 6-8

| ASSET QUALITY

44

312 RBU RETAIL amp SMALL BUSINESS (Q42017)

| ASSET QUALITY

03 Collections Strategy revamped with the introduction of NPE flagging into

the collections system (EFS) and the intensification of collections across all segments In collaboration with Credit Bureau (Teiresias SA)

Information-based scoring is being enhanced and will soon be integrated into the system

Deep restructuring solutions developed and launched aiming to provide

viable solutions to secured and partially secured segments Take up and cure rates are anticipated to increase also in fear of the liquidation actions

REO strategy enhanced with the introduction of collateral Marketability scoring and Credit Bidding methodology which are at final development stage

Retail Workout processes are being optimized aiming at acceleration of legal actions and increase of cost efficiency

(euro bn )Balances

(euro bn)Customers (2)

()

Retail RBU (1) 99 286294

Buckets

bull Current (0 dpd) 03 23937

bull Deliquent (1-90 dpd) 25 58263

bull NPL (90+ dpd Denounced) 71 219423

(1) Retail RBU includes Mortgages Consumer Loans Credit Cards and Agri RBU Loans(2) Retail Customers include Mortgages Consumer Loans Credit Cards Agri Loans and SBLs RBU

The number of Customers does not add up due to multiple relationships

(euro bn )Balances

(euro bn)Customers

()

Small Business Loans RBU 10 16664

Buckets




45

313 RBU CORPORATE amp SME (Q42017)

| ASSET QUALITY

03 Refine the operating model focusing on the following areas

a RBU value chain

b Workflows and restructuring tools

c SLAs across support functions

d Utilization of legal actions throughout the restructuring process for viable non-cooperative customers

e Introduce middle office roles to increase efficiency and reduce theimplementation time of restructuring solution

f Apply a 360o approach on large cases

Work towards the creation of a new interbank platform for common SMEborrowers

REO strategy enhanced with the introduction of collateral Marketability scoring

and Credit Bidding methodology which are at final development stage


(euro bn )Balances

(euro bn)Customers

()

Corporate RBU 63 398

Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46

314 RBU COMMERCIAL WORKOUT (Q42017)

| ASSET QUALITY

03

Develop real estate REO strategy in the foreclosure decision making process

Empower the Workout Unit with increased legal capacities

Securitize selected part of the portfolio

(euro bn )Balances

(euro bn)Customers

()

Commercial Workout (1) 107 33371

Buckets




(1) Commercial Workout includes Corporate SMEs and SBLs


03

47

315 NPL amp NPE STOCK FALLING ACROSS MOST SEGMENTS [PARENT DATA]

| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17

NPL Development yoy (eurobn)

NPE Development yoy (eurobn)

-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn

Mortgages Consumer LoansBusiness Loans

-23-20-4

-19

-8

-9 +1-15

48

316 RBU PORTFOLIO AT A GLANCE03

| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()

Corporate RBU 63 04k 65

SME RBU 27 15k 151

Commercial Workout 107 33k 376

Operational Retail RBU 110 286k

845

- Mortgages 63 63k

- Consumer Agri Credit Cards 36 276k

- SBLs RBU 10 17k

Total Operational RBU 306 309k 1593

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)

() Including 7 FTEs in Senior Management office

() Including supporting RBU staff (total 156 FTEs)

() Including 50 FTEs in branches for customers holding agricultural products (250 branches with part-time officers) and Retail FTEs include 334 dedicated Branch Restructuring Officers

c2500 FTEs

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

31 Dec 2017CEO

Recovery Banking Unit (RBU)

RBU Strategy

Retail | SBL Recovery

SME Recovery

Corporate | Shipping Recovery | RBU Structured

Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118

Total Piraeus Non RBU RBU

lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577

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)

71

04

29

84

28

06

61

23

99

10

90

107

Retail Small Business Corporate amp SME CommercialWorkout

NPL balances Balances (lt90dpd)

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

(eurobn 31 Dec17)(eurobn 31 Dec17)

RBU Balances Overview (NPL) RBU Balances by Segment (NPL)

50

318 RBU BUSINESS CUSTOMERS VIABILITY MAPPING03

| ASSET QUALITY

404 customers

euro64 bn total loan balances

1484 customers


Operating businesses

1251 or 84 of total

euro26 bn or 84 of total

Viable (positive EBITDA)

1099 or 88 of

operating cases

euro19 bn loans or 86 of

operating cases

RBU portfolio

Corporate amp Shipping SMEs Commercial Workouts


290 or 72 of total



231 or 80 of operating

cases


operating cases

33371 NPL cases


Denounced loans gt100k

8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k

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 83 of balances related to

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

RBU portfolio RBU portfolio

Note data as of 31 Dec17

03

51

319 MORE THAN 45 OF PERSONAL BANKRUPTCY CASES ARE REJECTED IN COURT

| ASSET QUALITY

Retail Loan Balances Under the Protection of L38692010 (bankruptcy law for individuals) - all classified as NPEs

Secured Loans UnsecuredTotal Secured amp

Unsecured

in euromn | December 2017 Total Mortgages Consumer Total

Total 2454 2302 152 930 3384

ow final court decision 637 606 31 269 906

bull in favor of customer 355 338 17 134 489

bull in favor of the Bank 282 268 14 135 417

of court decisions in favor of Bank 44 44 45 50 46

Filings that are deemed by the court as eligible for protection can regulate their debts in line with their income and 3debt settlement plans are usually foreseen

bull monthly payments over 4 yearsbull monthly payments over 20 years towards the preservation of the owned primary residence if such exists

these are calculated based on 85 of such propertyrsquos commercial valuebull sale or exploitation of other real estate

46 of euro906mn of cases that had been filed and were dealt by the courts have been rejected [data up to Dec2017]

Rejected cases of euro417mn [data up to Dec2017] will be repaid at par from the customer as the court decided that they have the ldquoabilityrdquo to repay the debt in full

52

03 320 REO MANAGEMENT

North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail

Large assets gteuro5mn

185

Piraeus REO holdings is concentrated in Attiki and NorthGreece regions jointly making up ~50 of the portfolio

Current Status

bull ~51k properties accumulated mainly in the last 3 yearsfrom acquisitions amp repossessions (21k residential 13k

commercial 04k industrial 13k plots)

bull Current market value of those properties euro10bn

bull In 2017 (as of 311217) 148 properties were sold vs 61

in 2016 22 in 2015 and just 10 in 2014

Actions

bull Run the Real Estate re-organisation project

bull Improve on the current strengths of Piraeus Real Estateand transform it in the marketing company for REO

utilising the newly introduced innovative platform forauctions in Greece wwwproperties4salegr

bull Enhance the capabilities of the Group with property and

facility management contracts

bull Create an RBU unit to reverse engineer both therestructuring and foreclosure processes with REO input

and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017

Number of Properties Sold ()

309

03

53

321 AMENDMENTS IN LEGAL FRAMEWORK WILL DRIVE FURTHER ACCELERATION OF NPENPL DELEVERAGE

| 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 ofthe 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) agree toparticipate 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 payment planshould 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 income lteuro21kPool 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 all hisher 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 primary residencewith 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 is considered byall participants as necessary for the sustainability of the debtorrsquos business The OCW aims to accelerate the NPL deleverage effort and tackle the category of strategic defaulters

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 that suchrestructuring 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 documentation requiredand

(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 by activists


bull Measure for carrying out solely e-auctions of foreclosed property will commence in 21 Feb 2018 The measure affects all auctions regardless of when a foreclosure notice was imposed

bull The Code of Civil Procedures introduces the preferential coverage of the banksrsquo claims from auctionsrsquo proceeds provided that the following cumulative conditions are satisfied i) newfinancing post 17012018 ii) with new underwritingmortgageor pledged collateral of 1st class and iii) this collateral is auctioned

04IFRS9

95

1 4

Greek Lending

International Lending

Securities amp Other

55


| IFRS9

impact

euro1621mn eurobn Dec17IFRS9Jan18

pro-forma

Delta

Loan Loss Reserves 155 171 +16

CET1 phased-in 77 75 -02

CET1 fully loaded 73 55 -18

Risk Weighted Assets () 491 486 -05

Risk Weighted Assets FL () 491 472 -19

CET-1 phased-in () 157 154 -03ppt

CET-1 fully loaded () 148 117 -31ppt

Tangible Book Value 71 55 -16

Tangible Book Value per share (euro) 162 125 -37

bull IFRS9 significantly increasing loan loss reserves and

troubled loans cash coverage

() pro-forma for asset disposals under way

56

42 IFRS9 SEGMENT amp STAGE ANALYSIS | GROUP04

| IFRS9

impact

euro1621mn

IFRS9 (eurobn) Impact

Greek Lending 15

Mortgages 02

Consumer 04

Business 09

International Lending 00

Other 01

Total 16

Group Stage analysis PE NPE IAS39Provisions

IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28

bull The main impact of IFRS 9 (FTA) was mainly concentrated in

Stages 2 and 3

bull Stage 2 incorporates the recognition of lifetime losses for

exposures significant increase in credit risk since their initial

recognition

bull Stage 3 holds the highest coverage of all

() SPPI loans not included in the above figures euro03bn loans with euro02bn provisions

57

43 IFRS9 STAGES ANALYSIS | GROUP04

| IFRS9

impact

euro1621mn

Mortgage Stage analysis PE NPEIAS39prov

IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13

Consumer Stage analysis PE NPEIAS39prov

IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47

Corporate Stage analysis PE NPEIAS39prov

IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32

04L I Q U I D I T Y05L I Q U I D I T Y

40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017

05 51 GREEK MARKET LIQUIDITY GRADUALLY RESTORED

| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB

Eurosystem at euro26bn in Feb18 (ELA euro15bn ECB euro11bn) -euro100bn vs Jun15 peak

Eurosystem Funding (eurobn)Deposits amp Βanknotes in Circulation (eurobn)

Banknotes at euro34bn in Feb18 -euro16bn vs Jun15 peak

euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits

Currency in Circulation

euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans

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

LDR at 105 in Feb18 -32pp vs Jun15 peak

Deposits up euro58bn in Feb18 yoy Loans down euro115bn yoy in Feb18 ow euro55bn write-offs

euro182

euro125

105

Source Bank of Greece on top of write-offs the loan market has been impacted by ceuro4bn FX fluctuations and other adjustments

05

60

52 DOMESTIC DEPOSITS PICKING UP

| LIQUIDITY

34 37

66 63

Dec17 Dec17

Time deposits Savings-Sight deposits

Domestic Deposit Mix ()

Deposit Movement by Segment (eurobn)

Greek market Piraeus - Greece

25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157

Affluent|Private Banking +06 -03 - +03 +03 137

SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409

Customer Deposit Movement in Greece (eurobn)

1338

-24

+08 +17 +561325

-26

+09 +24 +471378

Dec15 Δ Q116Δ Q216Δ Q316Δ Q416 Dec16 Δ Q117Δ Q217Δ Q317Δ Q417 Dec17

361

-10

+04 +09+29 393

-13

+02+09 +18 409

Dec15 Δ Q116 Δ Q216 Δ Q316 Δ Q416 Dec16 Δ Q117 Δ Q217 Δ Q317 Δ Q417 Dec17

c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece

Note Dec16 deposit balances adjusted as per Bank of Greece

05

61

53 PIRAEUS DEPOSIT COST DECREASING

| LIQUIDITY

034

060

007

018

Dec12 Dec13 Dec14 Dec15 Jun16 Sep16 Oct16 Nov16 Dec16 Mar17 Jun17 Sep17 Dec17

Euro area Greece Spain Portugal

Greek Customer Deposit Rates (mtd )

Greek Time Deposit Rates | Stock vs New (mtd )

New Time Deposit Rates in European Periphery ()

440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075

Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec 16 Jun17 Sep17 Dec17

New time deposits

Time deposits (stock)

291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075

Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Sep17 Dec17

Total deposits (stock)


Time deposit cost continues to decrease

Ongoing effort to reduce deposit cost in line with approved Restructuring Plan

Gradual increase of market sentiment and inflows in deposits are not

expected to trigger any deviation from deposit pricing discipline

Deposit Cost Further Improved

1

2

3

05

62

54 EUROSYSTEM FUNDING UTILIZATION DROPS FURTHER

| LIQUIDITY

Dec14 Dec15 Dec16 Mar17 Jun17 Sep17 Dec17

ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57

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

L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97

Eurosystem Funding (eurobn)

149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59

Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 lateMar18

ELA

ECB

Collateral Used for Eurosystem Funding - Cash Values (eurobn)

ELA Utilization amp Buffer

1

2

ELA utilization drops lteuro20bn in late March 2018

ELA collateral buffer estimated at euro12bn based on existing collateral

valuation and haircuts

05

63

55 EFSF|ESM BOND EXCHANGE

| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn

In early 2017 Piraeus along with the other Greek banks 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 amounted to a nominal value

of euro124bn

The 10th and last round of the ESM amp EFSF Exchange settled in mid January

2018 and brought the relevant ESM EFSF balance to zero

05

64

56 INTERBANK REPO ACTIVITY

| LIQUIDITY

Funding from Non-ECB Eligible Collateral (eurobn)

Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18

Interbank Repos Τrends

Following the completion of the ldquoESM bond exchangerdquo in the framework of short term measures for Greek

Public Debt relief Piraeus Bank hold no EFSFESM bonds as of late-November 2017

Initiation of interbank repo activity with non-ECB eligible collateral in the past 12 months balances at euro2bn

level at the end of Mar18 at a cost below ELA level

Increased volumes assisting reduction of Eurosystem reliance

1

3

2

23

05 57 CAPITAL CONTROLS UPDATE FURTHER RELAXATION AS OF FEB2018

| LIQUIDITY

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)


01032018)

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

bull Allowed for new customers that do not have other account

with other Greek Banks

bull Allowed with no exceptions (applicable from 01032018)

Greek Capital Market

Instrumentsbull Allowed

Additional Account

Beneficiary


bull Prohibited for new customers (till 28022018)

bull Allowed (applicable from 01032018)

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


withdrawn in cash

Change of Custodian

Bankbull Prohibited when changing to foreign custodian

Outgoing Wire Transfers

abroadbull Private individuals can transfer up to euro2000 per 2 months Trade Related Payments

bull lteuro700k approval at bank level

bull Weekly limit for bank-level committee at euro250mn

bull gteuro700k approval by the Banking Transactions

Approval Committee

Time Deposit Break bull Allowed Early Loan Repayment bull Allowed

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

65

06A P P E N D I X

06

67 | APPENDIX

61 GROUP RESULTS DOMESTIC amp INTERNATIONAL

Greece (euromn) International (euromn)Q416 Q417 yoy FY16 FY17 yoy

Net Interest Income 417 376 -10 1665 1585 -5

Net Fee Income (recurring) 82 81 -1 294 313 6

- persistency fee - - - - 35 -

Core Banking Income 500 458 -8 1959 1934 -1

Core Banking Income (recurring) 500 458 -8 1959 1899 -3

Trading amp Other Income (recurring) 21 8 -61 59 126 -

- one-time trading income - - - 77 - -

Total Net Revenues (reported) 520 466 -11 2095 2059 -2

Total Net Revenues (recurring) 520 466 -11 2018 2024 0

Employee Costs (recurring) (134) (134) 1 (533) (521) -2

- one-time employee cost - (16) - - (16) -

Administrative Expenses (144) (144) - (486) (460) -5

Depreciation amp Other (23) (27) 18 (91) (97) 6

Total Operating Costs (reported) (301) (322) 7 (1111) (1094) -2

Total Operating Costs (recurring) (301) (306) 2 (1111) (1078) -3

Pre Provision Income (reported) 219 143 -35 985 965 -2

Pre Provision Income (recurring) 219 160 -27 908 947 4

Result from Associates (10) (7) -33 (18) (29) 63

Impairment on Loans (290) (1128) - 933 1928 -

Impairment on Other Assets (94) (109) 15 141 139 -2

Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -

Net Result Attributable to SHs 18 66 - 78 57 -27

Discontinued Operations Result (7) (14) - (9) (33) -

Q416 Q417 yoy FY16 FY17 yoy

25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX

0606 62 PIRAEUS LEGACY UNIT PERIMETER (FY2017 PROFORMA FOR IFRS9 FTA)

PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA

other includes international operations REO holdings discontinued operations and small non-core Greek subsidiaries NPE ratios calculated over on-balance sheet exposuresnm non meaningful

RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX

63 LOAN amp DEPOSIT PORTFOLIOS

Gross Loans Evolution (euromn)

Dec16 Mar17 Jun17 Sep17 Dec17 yoy qoq

Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57

Deposits Evolution (euromn)


Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42

Notes loan balances exclude seasonal agri-loan of euro17bn and euro16bn for Dec16 and Dec17 respectively Serbian operations excl from Jun17 onwards whereas Piraeus Bank Romania from Dec17 onwards

70

64 COVERAGE PER SEGMENT06

Coverage per Segment (Dec2017)

| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110

ow Corporate amp Shipping 20 128 30 158 50 51 35 86

Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100

High coverage (provisions amp collateral) in all segments

Coverage of business NPEs relatively balanced between provisions amp collaterals while consumer loans are tilted towards provisions and mortgage loans towards collateral coverage

Total NPL coverage ratio (NPL Coverage + NPL Collateral ) of the overall loan portfolio well exceeding 100 with corresponding total NPE coverage ratio at 100

06

71 | APPENDIX

65 OVERVIEW OF INTERNATIONAL OPERATIONS

AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133

(euromn as at Dec 2017)

Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn

Total International1

Market Shares Loans Deposits

Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries

sup1Consolidated financial data for international operations

Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY

GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES

1 NII Net Interest Income

2 DTAs Deferred Tax Assets

3 PPA adjustment

PPA adjustments relating to the acquisition of the seven banks [ie former ATEbank the Greek banking operations

of Cypriot Banks in Greece (Bank of Cyprus Cyprus Popular Bank Hellenic Bank) Millennium Bank SA Geniki Bank

SA and Panellinia Bank SA] amounting to euro58bn

4 Gross Loans before Impairments amp Adjustments

Loans and advances to customers before allowances for impairments on loan losses gross of PPA adjustments

relating to the acquisition of the seven banks [ie former ATEbank the Greek banking operations of Cypriot Banks in

Greece (Bank of Cyprus Cyprus Popular Bank Hellenic Bank) Millennium Bank SA Geniki Bank SA and Panellinia

Bank SA] amounting to euro58bn

5 Net Loans

Loans and advances to customers gross of PPA adjustments relating to the acquisition of the seven banks [ie

former ATEbank the Greek banking operations of Cypriot Banks in Greece (Bank of Cyprus Cyprus Popular Bank

Hellenic Bank) Millennium Bank SA Geniki Bank SA and Panellinia Bank SA] amounting to euro58bn

6 Net Loans to Deposits Ratio (LDR) Net loans over deposits due to customers

7 Core Banking Income or NII+NFI Net interest income plus net fee and commission income

8 Net Income or Net RevenueTotal net income excluding the extraordinary financial gain of euro77mn from the disposal of Visa Europe when

reference is made to 2016 There has been no adjustments to Net Income for the current reporting period

9 Pre Provision Income (PPI)

Total net income excluding the extraordinary financial gain of euro77mn from the sale of Visa Europe when reference is

made to 2016 less total operating expenses before provisions There has been no adjustments to Net Income for

the current reporting period and hence the relevant amount corresponds to ldquoProfit before provisions impairments

and income taxrdquo

10 Cost to Income Ratio (CI)

Total operating expenses before provisions over total net income excluding the extraordinary financial gain of

euro77mn from the disposal of Visa Europe when reference is made to 2016 For the current reporting period the ratio

is total operating expenses before provisions over total net income

11 Capital adequacy ratio Total regulatory capital over risk weighted assets

73 | GLOSSARY

GLOSSARY | DEFINITIONS OF ALTERNATIVE PERFORMANCE MEASURES (contrsquod)

12 CET1 phased inCET1 capital ratio phased-in taking into account RWA relief for the divestments of AVIS Greece and Piraeus Bank

Beograd and anticipated disposals of Piraeus Bank Romania Dunant and NPLs portfolios

13 CET1 fully loadedCET1 capital ratio taking into account RWA relief for the divestments of AVIS Greece and Piraeus Bank Beograd

and anticipated disposals of Piraeus Bank Romania Dunant and NPLs portfolios

14 CET-1 -IFRS 9 Jan18 pro-formaRatios as per item 12 above (for phased-in) or item 13 above (for fully loaded) taking into account the impact from

first time adoption of IFRS 9 on 1 January 2018

15 Adjusted total assetsTotal assets excluding assets of discontinued operations amounting to euro23bn and EFSFESM bonds amounting to

euro15 bn

16 Net Interest Margin (NIM) Net interest income over adjusted total assets

17 Net Fee Income over Assets Net fee and commission income over adjusted total assets

18 NPLs - Non Performing Loans

Loans and advances to customers in arrears over 90 days past due gross of PPA adjustments relating to the

acquisition of the seven banks [ie former ATEbank the Greek banking operations of Cypriot Banks in Greece

(Bank of Cyprus Cyprus Popular Bank Hellenic Bank) Millennium Bank SA Geniki Bank SA and Panellinia Bank

SA]

19 NPEs - Non Performing Exposures

On balance sheet credit exposures before allowances for impairments on loan losses gross of PPA adjustments

relating to the acquisition of the seven banks [ie former ATEbank the Greek banking operations of Cypriot Banks

in Greece (Bank of Cyprus Cyprus Popular Bank Hellenic Bank) Millennium Bank SA Geniki Bank SA and

Panellinia Bank SA] that are (a) 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)

subject to contagion from (a) under EBA rules

20 NPL Ratio Non-performing loans over gross loans before allowance for impairments amp adjustments

21 NPE Ratio Non-performing exposure over gross loans before allowance for impairments amp adjustments

74 | GLOSSARY


22 NPL Coverage Ratio

Allowances for impairment on loan losses gross of PPA adjustments relating to the acquisition of the seven banks

[ie former ATEbank the Greek banking operations of Cypriot Banks in Greece (Bank of Cyprus Cyprus Popular

Bank Hellenic Bank) Millennium Bank SA Geniki Bank SA and Panellinia Bank SA] over Non-Performing Loans

23 NPE Coverage Ratio



Bank Hellenic Bank) Millennium Bank SA Geniki Bank SA and Panellinia Bank SA] over Non-Performing

Exposures

24 NPE FormationChange of the stock of adjusted NPEs adding back write-downs or other adjustments ie loan sales or debt to

equity transactions over loans and advances to customers before allowances for impairment on loan losses

25 NPL FormationChange of the stock of adjusted NPLs adding back write-downs or other adjustments ie loan sales or debt to


26 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)

27 Net Fee Income (NFI) Net fee and commission income

28 Cost of Risk (CoR) Allowances for impairment on loans and advances to customers over net loans

29 Return on Assets (RoA) Profit (loss) for the period over adjusted total assets

30 Net Results Profit (loss) for the period attributable to equity holders of the parent

31 Cumulative provisions (Loan loss reserves ndash LLR) Allowance for impairment on loans and advances to customers gross of PPA adjustment

32 Cumulative provisions (LLRs) over gross loans Cumulative provisions for loans and advances to customers over gross loans before impairments and adjustments

33 Operating Expenses (OpEx) Total operating expenses before provisions

75 | GLOSSARY


34 Loan impairment charges (Provision Expenses) Impairment losses on loans and advances to customers

35 Pre Tax Results Profit (loss) before income tax

36 New Loan Generation New loan disbursements that were realized after previous end period

37 Customers Number of customers both individuals and legal entities with a banking relationship (account) with Piraeus Bank

38 Cross Selling Ratio Total product groups over total number of customers

39 ELATotal Assets ELA Total adjusted Assets

40 NFI (NFampCI) Net fee and commission income

41 GampA Costs Administrative expenses

42 DTC Deferred tax credit

43 PPE Property and equipment plus investment property

44 Tangible Book Value Equity minus value of cocos (euro 20400 mn) minus goodwill and intangibles (euro 3007 mn)

45 FTEs Full time employees

76

The accompanying presentation has been prepared by Piraeus Bank SA and its subsidiaries and affiliates (the ldquoBankrdquo or ldquoWerdquo) solely for informational purposes For the purposes of this disclaimer the presentationthat follows shall mean and include materials including and together with any oral commentary or presentation and any question-and-answer session By attending a meeting at which the presentation is made orotherwise viewing or accessing the presentation whether live or recorded you will be deemed to have agreed to the following restrictions and acknowledged that you understand the legal and regulatory sanctionsattached to the misuse disclosure or improper circulation of the presentation or any information contained herein The information contained in this presentation is confidential and is solely for the use of theintended recipient

This presentation does not constitute an offer to sell or a solicitation of an offer to buy or a recommendation to buy or invest in any form of security issued by the Bank or its subsidiaries or affiliates nor does itconstitute an offer or commitment to lend syndicate or arrange a financing underwrite or purchase or act as an agent or advisor or in any other capacity with respect to any transaction or to commit capital Thispresentation is not intended to provide a basis for evaluations and does not constitute investment legal accounting regulatory taxation or other advice and does not take into account your objectives or legalaccounting regulatory taxation or financial situation or particular needs No representation warranty or undertaking is being made and no reliance may be placed for any purpose whatsoever on the informationcontained in this presentation in making any investment decision in relation to any form of security issued by the Bank or its subsidiaries or affiliates or for any other transaction You are solely responsible for formingyour own opinions and conclusions on such matters and for making your own independent assessment of the Bank You are solely responsible for seeking independent professional advice in relation to the Bank andyou should consult with your own advisers as to the legal tax business financial and related aspects andor consequences of any investment decision No responsibility or liability is accepted by any person for anyof the information or for any action taken by you or any of your officers employees agents or associates on the basis of such information

This presentation does not purport to be comprehensive and no representation warranty or undertaking is made hereby or is to be implied by any person as to the completeness accuracy or fairness of theinformation contained in this presentation The Bank its financial and other advisors and their respective directors officers employees agents and representatives expressly disclaim any and all liability which mayarise from this presentation and any errors contained herein andor omissions therefrom or from any use of this presentation or its contents or otherwise in connection therewith The Bank its financial and otheradvisors and their respective directors officers employees agents and representatives accept no liability for any loss howsoever arising directly or indirectly from any use of the information in this presentation orin connection therewith Certain information contained in this presentation is based on estimates or expectations of the Bank and there can be no assurance that these estimates or expectations are or will prove tobe accurate This presentation speaks only as of the date hereof and neither the Bank nor any other person gives any undertaking or is under any obligation to update any of the information contained in thispresentation including forward-looking statements for events or circumstances that occur subsequent to the date of this presentation

Each recipient acknowledges that neither it nor the Bank intends that the Bank act or be responsible as a fiduciary to such attendee or recipient its management stockholders creditors or any other person Byaccepting and providing this document each attendee or recipient and the Bank respectively expressly disclaims any fiduciary relationship and agrees that each recipient is responsible for making its ownindependent judgment with respect to the Bank and any other matters regarding this document

The Bank has included certain non-IFRS financial measures in this presentation These measurements may not be comparable to those of other companies Reference to these non-IFRS financial measures should beconsidered in addition to IFRS financial measures but should not be considered a substitute for results that are presented in accordance with IFRS

Certain statements contained in this presentation that are not statements of historical fact including without limitation any statements preceded by followed by or including the words ldquotargetsrdquo ldquobelievesrdquoldquoexpectsrdquo ldquoaimsrdquo ldquointendsrdquo ldquomayrdquo ldquoanticipatesrdquo ldquowouldrdquo ldquocouldrdquo or similar expressions or the negative thereof constitute forward-looking statements notwithstanding that such statements are not specificallyidentified Examples of forward-looking statements include but are not limited to statements which are not statements of historical fact and may include among other things statements relating to the Bankrsquosstrategies plans objectives initiatives and targets its businesses outlook political economic or other conditions in Greece or elsewhere the Bankrsquos financial condition results of operations liquidity capitalresources and capital expenditures and development of markets and anticipated cost savings and synergies as well as the intention and beliefs of the Bank andor its management or directors concerning theforegoing Forward-looking statements are not guarantees of future performance and involve certain risks uncertainties and assumptions which are difficult to predict and outside of the control of the BankTherefore actual outcomes and results may differ materially from what is expressed in such forward-looking statements We have based these assumptions on information currently available to us and if any one ormore of these assumptions turn out to be incorrect actual market results may differ significantly While we do not know what impact any such differences may have on our business if there are such differencesour future results of operations and financial condition could be materially adversely affected You should not place undue reliance on these forward-looking statements Forward-looking statements speak only asof the date on which such statements are made The Bank expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events orcircumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events

DISCLAIMER

Investor Relations Contacts

Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION

4 Amerikis St 105 64 Athens

Tel (+30 ) 210 3335026

investor_relationspiraeusbankgr

Bloomberg TPEIR GA | Reuters BOPrAT

ISIN GRS014003024 | SEDOL BYWKR93

wwwpiraeusbankgroupcom

PIRAEUS BANK GROUP HEADQUARTERS

4 Amerikis Str 105 64 Athens Greece T +30 210 333 5026wwwpiraeusbankgroupcom



TABLE OF CONTENTS

01 EXECUTIVE SUMMARY

02 FINANCIAL PERFORMANCE

03 ASSET QUALITY

04 IFRS9

05 LIQUIDITY

06 APPENDIΧ


01

4


| EXECUTIVE SUMMARY



-160

-140

-120

-100

-80

-60

-40

-20

00

20

40

60

H1

09

H2

09

H1

10

H2

10

H1

11

H2

11

H1

12

H2

12

H1

13

H2

13

H1

14

H2

14

H1

15

H2

15

H1

16

H2

16

H1

17

H2

17


21 23

-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

Q2

17

Q3

17

Q4

17


2018-2019

outlook



197180

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

35

40

45

50

55

75

80

85

90

95

100

105

110

115

Q2

04Q

404

Q2

05Q

405

Q2

06Q

406

Q2

07Q

407

Q2

08Q

408

Q2

09Q

409

Q2

10Q

410

Q2

11Q

411

Q2

12Q

412

Q2

13Q

413

Q2

14Q

414

Q2

15Q

415

Q2

16Q

416

Q2

17Q

417



5


| EXECUTIVE SUMMARY



2







6

01

| EXECUTIVE SUMMARY











power











2019 - 202020182017

7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










01

4


| EXECUTIVE SUMMARY



-160

-140

-120

-100

-80

-60

-40

-20

00

20

40

60

H1

09

H2

09

H1

10

H2

10

H1

11

H2

11

H1

12

H2

12

H1

13

H2

13

H1

14

H2

14

H1

15

H2

15

H1

16

H2

16

H1

17

H2

17


21 23

-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

Q2

17

Q3

17

Q4

17


2018-2019

outlook



197180

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

35

40

45

50

55

75

80

85

90

95

100

105

110

115

Q2

04Q

404

Q2

05Q

405

Q2

06Q

406

Q2

07Q

407

Q2

08Q

408

Q2

09Q

409

Q2

10Q

410

Q2

11Q

411

Q2

12Q

412

Q2

13Q

413

Q2

14Q

414

Q2

15Q

415

Q2

16Q

416

Q2

17Q

417



5


| EXECUTIVE SUMMARY



2







6

01

| EXECUTIVE SUMMARY











power











2019 - 202020182017

7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









01

4


| EXECUTIVE SUMMARY



-160

-140

-120

-100

-80

-60

-40

-20

00

20

40

60

H1

09

H2

09

H1

10

H2

10

H1

11

H2

11

H1

12

H2

12

H1

13

H2

13

H1

14

H2

14

H1

15

H2

15

H1

16

H2

16

H1

17

H2

17


21 23

-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

Q2

17

Q3

17

Q4

17


2018-2019

outlook



197180

0

5

10

15

20

25

30

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

35

40

45

50

55

75

80

85

90

95

100

105

110

115

Q2

04Q

404

Q2

05Q

405

Q2

06Q

406

Q2

07Q

407

Q2

08Q

408

Q2

09Q

409

Q2

10Q

410

Q2

11Q

411

Q2

12Q

412

Q2

13Q

413

Q2

14Q

414

Q2

15Q

415

Q2

16Q

416

Q2

17Q

417



5


| EXECUTIVE SUMMARY



2







6

01

| EXECUTIVE SUMMARY











power











2019 - 202020182017

7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









5


| EXECUTIVE SUMMARY



2







6

01

| EXECUTIVE SUMMARY











power











2019 - 202020182017

7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









6

01

| EXECUTIVE SUMMARY











power











2019 - 202020182017

7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









7


| EXECUTIVE SUMMARY


Assets(1) 760 616 -19


Net Loans 453 400 -5(2)






in 2016

29LLRs over loans

euro27bnnew loan

generation in 2017





8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









8


| EXECUTIVE SUMMARY


NII amp NFI 1959 1934 -1








annually



increasing coverage



01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









01

9


| EXECUTIVE SUMMARY

279 269244

207


17

9 collateral

provisions

377

365358

329


17

16 collateral

provisions

100





ΝPE formation





ΝPL formation



-8

-2

-9-15

Coverage

Coverage

124

01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









01

10


| EXECUTIVE SUMMARY

342

-04 -12 -12

314

Jun16 H216 H117 H217 Dec17


244

-12 -14 -20

198

Jun16 H216 H117 H217 Dec17




01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









01

11


| EXECUTIVE SUMMARY

198149

104

116

109

99








NPE

NPL

euro203bn

euro259bn

euro314bn

198 238 200

00




12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









12


| EXECUTIVE SUMMARY
















providers




investors





credit cards






13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









13


| EXECUTIVE SUMMARY

222

119

-16-46

57

00

167




351 361393

-11

+27 409495





295(Dec17)




14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









14


| EXECUTIVE SUMMARY

impact

euro58mn Other

euro1621mn

euro1563mn Loans

eurobn Dec17IFRS9

1st Jan18 pro-forma











15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









15


| EXECUTIVE SUMMARY

7075 83



4647 52




16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









16


| EXECUTIVE SUMMARY


pro-forma for IFRS9

CET-1 Capital 77 75

RWAs 491 486

CET-1 ratio 157 154







2017 2018



AT1 150 150

T2 200 200





17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









17


| EXECUTIVE SUMMARY

16

1311

~09


~4055






during 2018-2020


gains

Retail efficiency

gains2016 2020


53

2017

2017


77

2013

2013Reshape

corporate functions

Redesign core

processes


gains

18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









18


| EXECUTIVE SUMMARY

Piraeus Bank

eurobn RWANET

LOANS NPE ROA

FY17 219 179 314 lt0

9M17 237 204 315 lt0

H117 241 206 321 lt0

Q117 252 212 327 lt0



eurobn RWANET

LOANS NPE ROA

FY17 286 253 17 11

9M17 287 253 23 11

H117 286 257 25 11

Q117 280 262 25 11


19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









19


| EXECUTIVE SUMMARY

NIM

2017

2020

269bps

gt270bps

NIM54bps

gt65bps

NIM54

~40

NIM

200bps

NIM47

lt10

NIM00

~10

CI

157bps

NIM NFI PPI CoR RoA










Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026

















Bank Restructuring



02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









02

22



136

22

447

15

40

14

34

95

159

268

16

40

57

119

21

457

363019

Other

Cash

AssetMix

Total

Securities

EFSF Bonds

Net Loans

PPE

674

amounts in eurobn

23

97

162

257

22

42

78

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

674

FundingMix

Dec17

Total

CashSecurities

EFSF|ESM Bonds

Net Loans

Fixed Assets

Other

682

Sep17

Dec17

Sep17

Total

ECB

ELA

Interbank Repos

Core Deposits

Time Deposits

Total Equity

Other

682

23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









23







Gross Loans 66648 61035 60260 -1 -10


Securities 16420 6652 3978 -40 -76

- ow EFSF ΕSM Bonds 13219 3576 1456 -59 -89


Fixed Assets 2710 2142 2180 2 -20


Other Assets 3874 3758 3824 2 -1


Total Assets 81504 68174 67417 -1 -17

Due to Banks 27021 14374 11435 -20 -58

Deposits 42365 41822 42715 2 1





Total Equity 9824 9724 9544 -2 -3


1

2

3

4







1

2



4




24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









24







1

2




asset deleveraging



3


decreased by 1 yoy

4









Other Income 8 1 - (10) - (3) 46 -















Tax 2 1180 - 189 - 182 1206 -



1

2

3

5

54



on cost reduction

25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









25



PIRAEUS GROUP

432

427

505

2158

(1166)

992

(2169)

2

28

06

53

48

97

56

52

35

83

0

PLU

179

22

219

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairments


C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

17 RoA


PIRAEUS CORE BANK

253

405

286

1581

(878)

703

(712)

417

31

08

55

24

58

6

72

1

gt100

11




26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026












26



Net Fee Income 84 81 -3 82 -1 294 313 6


Total Revenues 510 466 -9 520 -11 2018 2024 0

OpEx (257) (306) 19 (301) 2 (1111) (1078) -3

PPI 253 160 -37 219 -27 908 947 4


Pre tax result (11) (1100) - (175) - (108) (1131) -



2

3

1

2

3




1

02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









02

27








1

2



relief



3

4

2016 2017


ow EFSF bonds 34 8


Net Loans 2241 2041







ow ELA 222 144




NIM 1 275 269


5

1

2

3

4

5



02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









02

28



Q416 Q117 Q217 Q317 Q417 FY17

Deposits 051 047 046 045 046 046

Sight 059 054 052 050 055 053

Savings 010 008 008 008 008 008

Time 086 082 081 078 076 079

avg 3m euribor

-031 -033 -033 -033 -033 -033

Loans 391 388 381 371 364 376

Mortgages 227 222 219 218 217 219

Consumer 831 763 762 730 714 742

Business 419 423 412 401 392 407











FY17


Corporate 37 43

SME 38 53

SBL 65 75

Total 41 49

02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









02

29




Group 312 1182

Greece 296 1128

Ιndividual 170 849

Collective 126 279

Piraeus Bank Group




of period 2018-2019

02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









02

30




Period

Reliant on future











5237

68 75


DTC over CET1 |



0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









0406

~10bn

2016 2017 FY2018e

732

869

999

268

131

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms






31


Greece


European Union








80

20


568

666

998

432

334

0 20 40 60 80 100

value added

employment

of enterprises

SMEs Large firms


03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

33


| ASSET QUALITY


NPLs (euromn) Dec17

Business 13629

Mortgages 4434

Consumer 2658

TOTAL 20721

NPLs (euromn) Dec17

Greece 19893

International 828

TOTAL 20721


Group NPL Mix

362373

289

473

353 359

292

485


Sep17

Dec17

NPEs (euromn) Dec17

Business 23326

Mortgages 6296

Consumer 3234

TOTAL 32856

NPEs (euromn) Dec17

Greece 31728

International 1128

TOTAL 32856


Group NPE Mix

553605

415

574560614

415

590


Sep17

Dec17

NPE mix 71 19 10 NPL mix 66 21 13

254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









254

199


03

34


| ASSET QUALITY

347

317



-euro30bnNPEpeak


04 03

02

00-01

01

00

-02-01

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417


04

00

0301

-02 -02 -03

-05

05

-03-04

-07

Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417

NPL peak

-euro55bn




35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









35


| ASSET QUALITY

(11)

(07)(09) (09) (09)

(03)

(07)

(06)(05) (05)

(02)

GeorgeHandjini

colaou(10)

(06)

(04)

07

04 05 05 05

04

04 04 03 04

Redefaults

Defaults

(amounts in eurobn)


Write-offs


Q416 Q117 Q217

02

04


average till 2019

Q118 ndash Q419

Sales

Q317

euro320 euro314

Q417



36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









36


| ASSET QUALITY


Actual Target delta

Defaults 38 34 03

Redefaults 24 21 02

Inflows 61 55 06

Outflows (59) (54) (06)

ow Cures (12) (08) (04)




Sales (03) (03) -

Write-offs (27) (26) (01)

NPEs yoy (28) (27) (01)

NPEs Jun16 342

NPEs Dec17 314 315 (01)









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

37


| ASSET QUALITY


Business 73 24 136 233



TOTAL 87 34 207 329


52 54

31

8071

79

37

898392

44

97


NPE NPEgt0dpd NPL



NPEF 0dpd44

NPEF 1-30dpd10

NPEF 31-90dpd9

NPEF gt90dpd12

PF25



NPΕ mix 27 10 63 100


[1] [2] [3] [1+2+3]





03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

38


| ASSET QUALITY

-41 -33

-208

47131

23 6

-120

19

-19

9

-47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17





334

-254-358

-612

89

-12 -48 -32

28

-43 -39 -47

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17

Q1

17

Q2

17

Q3

17

Q4

17




follow


03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

39 | ASSET QUALITY



Loans

Business 12568 331

Mortgages 1957 129

Consumer 2577 470

TOTAL 17102 292


Loans

Greece 16583 293


TOTAL 17102 292

7077

41

7783

92

44

97


Sep17 Dec17 IFRS9



NPL mix 66 21 13


tangible collateral




46 48

28

6452 54

31

80


Sep17 Dec17 IFRS9

NPE mix 71 19 10


03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

40


| ASSET QUALITY

353

560

GroupNPL

90dpd

ImpliedGroup

NPE

+141




Business 380 233 136 31 59 07

Mortgages 152 63 44 00 18 00

Consumer 55 32 27 00 05 00

Total 586 329 207 32 83 07


NPEs NPLs

Business 233 136 126 54 92

Mortgages 63 44 20 31 44

Consumer 32 27 26 80 97

Total 329 207 171 52 83

+205Coverage

83

Coverage

52

+55

Dec17

Group NPL gt90dpd

Dec17

GroupNPE


+11






9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









9716


03

41


| ASSET QUALITY

92

39


Mortgage

Business

Consumer

54

47


8020


Mortgage

Business

Consumer

Total 131

Total 110

Total 113

Total 101

Total 98

Total 100











67


44

66



14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









14

16

25

32

42

43

43

57

76

76

103

113

94

265


Agriculture



Shipping

Real Estate



Construction

Other


Manufacturing

Consumer

Mortgages

03

42




GROUP Loans 58627 37962 15183 5482

NPL Ratio 353 359 292 485

NPL Coverage 825 922 441 969

NPE Ratio 560 614 415 590

NPE Coverage 521 539 311 797

| ASSET QUALITY


GREECE Loans 56597 36317 14973 5307

NPL Ratio 351 355 294 490

NPL Coverage 834 940 441 972

NPE Ratio 561 615 417 590

NPE Coverage 523 542 311 807

Retail 36


43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









43






01

7


TypeMarket Price

(euromn)Bid Price

(euromn)Delta





Total 193 172 -11





2017 2018


27-28 Jun17 24-25 Oct17 13-14 Dec17 20-21 Mar18







20

18


| ASSET QUALITY

44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









44


| ASSET QUALITY








(euro bn )Balances


()

Retail RBU (1) 99 286294

Buckets






(euro bn )Balances

(euro bn)Customers

()


Buckets




45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









45


| ASSET QUALITY


a RBU value chain










(euro bn )Balances

(euro bn)Customers

()


Buckets




(euro bn )Balances

(euro bn)Customers

()

SME RBU 27 1469

Buckets




46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









46


| ASSET QUALITY

03




(euro bn )Balances

(euro bn)Customers

()


Buckets






03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

47


| ASSET QUALITY

38 32

Jun16 Dec17

4644

Jun16 Dec17

244

198

Jun16 Dec17



-euro02bn

3327

Jun16 Dec17

165

127

Jun16 Dec17

342

314

Jun16 Dec17

62 63

Jun16 Dec17

242

219

Jun16 Dec17

-euro06bn

-euro46bn

-euro38bn

-euro28bn

+euro01bn-euro06bn

-euro23bn


-23-20-4

-19

-8

-9 +1-15

48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









48


| ASSET QUALITY

(euro bn )Balances

(euro bn)Customers

()FTEs()


SME RBU 27 15k 151



845

- Mortgages 63 63k


- SBLs RBU 10 17k







c2500 FTEs


31 Dec 2017CEO


RBU Strategy


SME Recovery


Solution

Commercial Workouts

Real Estate

Piraeus Core Bank

03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

49

317 RBU PERIMETER

| ASSET QUALITY

190

01

188

387

269

118


lt 90 days past due

(dpd)

gt 90 days past due

(dpd)

306

270577



restructuring)

71

04

29

84

28

06

61

23

99

10

90

107






50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









50


| ASSET QUALITY

404 customers


1484 customers



1251 or 84 of total



1099 or 88 of

operating cases


operating cases

RBU portfolio



290 or 72 of total




cases


operating cases

33371 NPL cases



8215 or 28 of total


Operating cases

4413 or 54 of

denounced gt100k


denounced gt100k







03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

51


| ASSET QUALITY



Unsecured


Total 2454 2302 152 930 3384










52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









52


North Greece

Thessaloniki

Central Greece

Peloponnisos

Islands

Attiki

Crete

Sterea

134

77

70

56

36

135

Commercial

Retail


185


Current Status





in 2016 22 in 2015 and just 10 in 2014

Actions







and strategy

(euromn)

| ASSET QUALITY

1022

61

148

2014 2015 2016 2017


309

03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









03

53


| ASSET QUALITY



















04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









04IFRS9

95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









95

1 4

Greek Lending



55


| IFRS9

impact


pro-forma

Delta













56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









56


| IFRS9

impact

euro1621mn


Greek Lending 15

Mortgages 02

Consumer 04

Business 09


Other 01

Total 16


IFRS9Provisions

IAS39Coverage

IFRS9Coverage

Stage 1 208 - 02 02 1 1

Stage 2 67 10 04 09 5 12

Stage 3 - 315 148 158 47 50

Total 275 325 154 169 26 28


Stages 2 and 3



recognition



57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









57


| IFRS9

impact

euro1621mn


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 65 - 00 00 0 0

Stage 2 24 06 01 03 2 9

Stage 3 - 57 17 17 29 30

Total 89 63 18 20 12 13


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 14 - 00 00 2 2

Stage 2 09 01 02 03 19 31

Stage 3 - 31 20 22 63 73

Total 23 32 22 26 40 47


IFRS9prov

IAS39Coverage

IFRS9Coverage

Stage 1 129 - 01 01 1 1

Stage 2 34 03 01 04 4 10

Stage 3 - 227 111 119 49 52

Total 163 230 115 124 29 32


40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









40

60

80

100

120

140

2009 2010 2011 2012 2013 2014 2015 2016 2017


| LIQUIDITY59

0

20

40

60

80

100

120

140

160

2009 2010 2011 2012 2013 2014 2015 2016 2017

ELA

ECB




euro15

euro11euro130

euro42

0

10

20

30

40

50

60

2009 2010 2011 2012 2013 2014 2015 2016 2017

100

150

200

250

300 Deposits


euro34

euro140

100

120

140

160

180

200

220

240

260

280

2009 2010 2011 2012 2013 2014 2015 2016 2017

Deposits

Loans




euro182

euro125

105


05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









05

60


| LIQUIDITY

34 37

66 63

Dec17 Dec17





25 24

75 76

Dec17 Dec17

Business Retail


PiraeusFY16 delta

Q117 delta

Q217 delta

Q317 delta

Q417 delta

Dec17balance

Mass|Farmers +10 -05 +02 +01 +12 157


SB +02 -01 +02 +03 +02 34

SME +02 - +01 - - 11

Corporate +06 - -01 - +01 25

Govt amp Other +05 -04 -02 +02 - 45

Total +31 -13 +02 +09 +18 409


1338

-24

+08 +17 +561325

-26

+09 +24 +471378


361

-10

+04 +09+29 393

-13

+02+09 +18 409


c40 of market

inflow in Q3 amp Q4

Greek market

Piraeus - Greece


05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









05

61


| LIQUIDITY

034

060

007

018






440

364

271

227

177 174

095081

065 061 065 064

458

404

305

262

195175

117093 083 081 079

075


New time deposits


291

274

204179

130105

063 052 049 046 046 047

458

404

305

262

195175

117093 083 081 079 075









1

2

3

05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









05

62


| LIQUIDITY


ECB 141 160 90 45 55 42 40

EFSF|ESM Bonds 57 153 73 28 39 25 15

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

L3723 68 - - - - -

Other 06 07 08 08 07 08 15

ELA - 167 119 110 103 78 57


L3723 - 57 - - - - -

Loans amp Other - 102 119 110 103 78 57

Total 141 327 209 155 158 120 97


149 151 146 160 144 124 11190

45 55 42 40 40

154

222212 167

161

144127

119

110 103

7857

19

100

141

303

373 358

327304

268

238209

155 158

120

97

59


ELA

ECB



1

2




05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









05

63


| LIQUIDITY

Dec15 euro168bn

QE sales euro44bn

Feb17 euro124bn

EFSF

QE

Sale

s

Q117 - Q317 - Q417euro124bn

ESM

|EFS

F Ex

chan

ge

End of Jan18euro0bn






of euro124bn



05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









05

64


| LIQUIDITY


Mar

16

May

17

Jun

16

Jul1

6

Au

g16

Sep

16

Oct

16

No

v1

6

Dec

16

Jan

17

Feb

17

Mar

17

Ap

r1

7

May

17

Jun

17

Jul1

7

Au

g17

Sep

17

Oct

17

No

v1

7

Dec

17

Jan

18

Feb

18

Mar

18







1

3

2

23


| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










| LIQUIDITY




31082017)


01092017)


01032018)


Fundsbull Allowed

New Account Opening



new customers






Additional Account

Beneficiary




Foreign Investments





withdrawn in cash




withdrawn in cash


withdrawn in cash

Change of Custodian







Approval Committee



65

06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









06A P P E N D I X

06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









06

67 | APPENDIX























Pre Tax Result (175) (1100) - (108) (1131) -

Tax 191 1164 - 181 1185 -




25 22 -15 100 85 -15

5 6 17 14 21 49

- - - - - -

30 27 -10 114 106 -7

30 27 -10 114 106 -7

5 (9) - 17 (7) -

- - - - - -

35 19 -47 131 99 -25

35 19 -47 131 99 -25

(5) (7) 25 (22) (25) 15

- - - - - -

(13) (10) -24 (49) (41) -16

(2) (2) -5 (8) (6) -21

(20) (18) -9 (79) (73) -8

(20) (18) -9 (79) (73) -8

15 0 - 53 26 -50

15 0 - 53 26 -50

0 (2) - 0 (2) -

(16) (54) - (71) (85) 19

(15) (15) 4 (24) (17) -29

(15) (71) - (43) (77) 80

(2) 16 - 0 21 -

(16) (55) - (41) (56) 35

(10) (110) - (62) (169) -

68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









68 | APPENDIX


PLU

17868

2195

21869

577

(288)

289

(1457)

(415)

22

02

50

80

nm

92

51

60

78

lt0


1 Net Loans

2 Customer Deposits

3 RWAs

B PampL (euromn)

4 Net revenues



7 Impairment

8 Net Income

C Ratios

8 NIM over assets





13 NPE ratio

14 NPE coverage

15 NPL ratio

16 NPL coverage

15 RoA


RBU

15838

369

16159

437

(192)

245

(1329)

(334)

27

01

44

84

nm

93

52

61

79

lt0

Intrsquol

1536

1826

2101

99

(73)

26

(102)

(56)

24

06

73

55

84

56

44

41

60

lt0

Other()

494

0

3610

41

(24)

17

(27)

(26)

(04)

01

58

50

nm

119

48

79

73

lt0

06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









06

69 | APPENDIX




Group 64947 63787 62048 61035 58627 -10 -4

Business 42511 41719 40389 39645 37962 -11 -4

Mortgages 16162 15950 15696 15507 15183 -6 -2

Consumer 6274 6118 5964 5883 5482 -13 -7

Greece 61296 60216 58905 57936 56597 -8 -2

Business 39792 39069 38027 37312 36317 -9 -3

Mortgages 15707 15502 15330 15143 14973 -5 -1

Consumer 5797 5646 5548 5480 5307 -8 -3

Intrsquol 3650 3571 3143 3099 2030 -44 -34

Business 2719 2650 2362 2333 1645 -40 -29

Mortgages 455 448 366 364 210 -54 -42

Consumer 476 472 416 402 175 -63 -57



Group 42365 40960 40918 41822 42715 1 2

Savings 14995 14294 14379 14285 15134 1 6

Sight 11190 10676 10860 11372 11682 4 3

Time 16179 15990 15679 16165 15900 -2 -2

Greece 39322 38036 38185 39075 40889 4 5

Savings 14613 14001 14069 13967 14825 1 6

Sight 10536 9964 10123 10592 11125 6 5

Time 14172 14071 13993 14516 14938 5 3

Intrsquol 3043 2924 2733 2746 1826 -40 -33

Savings 382 293 310 318 309 -19 -3

Sight 654 712 737 780 556 -15 -29

Time 2007 1919 1686 1649 961 -52 -42


70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









70



| APPENDIX

Piraeus GroupNPL

Ratio

CashCoverage

Collateral Coverage

Total NPLCoverage

NPE Ratio

CashCoverage

Collateral Coverage

Total NPECoverage

Business loans 36 92 39 131 61 54 47 101

ow SB 47 70 44 114 62 52 49 101

ow SME 48 84 41 124 72 56 54 110


Mortgage loans 29 44 66 110 41 31 67 98

Consumer loans 48 97 16 113 59 80 20 100

Total loans 35 83 42 124 56 52 48 100




06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









06

71 | APPENDIX


AlbaniaBulgaria

London Frankfurt

Branches () 74

Employees () 976

Assets 1564

Net loans 715

Deposits 1160

Branches () 39

Employees () 445

Assets 593

Net loans 181

Deposits 455

Branch () 1

Employees () 19

Assets 765

Net loans 555

Deposits 25

Branch () 1

Employees () 11

Assets 166

Net loans 13

Deposits 133


Branches

Branches () 133

Employees () 1835

Assets euro32bn

Net loans euro15bn

Deposits euro18bn



Albania 60 61

Bulgaria 31 30

Ukraine 02 02

Subsidiaries


Ukraine

Branches () 18

Employees () 384

Assets 108

Net loans 53

Deposits 53

72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









72 | GLOSSARY




3 PPA adjustment









5 Net Loans












and income taxrdquo






73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









73 | GLOSSARY









euro15 bn







SA]











74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









74 | GLOSSARY










Exposures














75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









75 | GLOSSARY














76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026









76







DISCLAIMER


Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026










Chryssanthi Berbati

Antonis Sagris

Xenofon Damalas CFA

George Doukas

77

COMMUNICATION


Tel (+30 ) 210 3335026













Documents

PIRAEUS BANK GROUP PRESENTATION/media/Com/2018/Files/investo… · Economic Sentiment Indicator (left axis) PMI Manufacturing (right axis) Economic Sentiment Indicator (ESI) & Manufacturing