Eurobank Ergasias’ (EGFEY) CEO Fokiat Karavias at Preliminary Full Year 2019 Results – Earnings Call Transcript #EUR_BillionMarch 11, 2019
On Page 24, net commission income increased in the fourth quarter by 19% to EUR 94 million.
Provisions in the fourth quarter amounted to EUR 167 million and cost of risk over net loans to 1.9% for the quarter and the full year.
Second question, I see you’ve done that EUR 500 million of write-offs this quarter.
And then, when I look at the NPE plan that you have presented today, could you explain to us, the Cairo securitization and the EUR 2 billion securitization, how many of these NPLs that are now under your protected perimeter will include, if any?
Now moving into your second question about the performance over the first quarter in terms of the NPE reduction plan.
Let me guide you regarding – first of all, the answer, the difference between EUR 7 billion and EUR 7.5 billion in the securitization, we have included apart from NPEs close to EUR 500 million performing for bond loans with high probability to become defaulted – to a default within this year.
Now regarding our capital position, post the completion of our transformation plan, as we have said, the expected CET1 impact from the EUR 7 billion NPE and the kind of securitization, should be expected between EUR 1.2 billion and EUR 1.4 billion.
So we’re looking forward to the approval of both plans, both the APS as well as the Bank of Greece plan.
And one very small question, could you, please, clarify, you have around EUR 70 million non-loan impairment in first quarter.
But overall, our plan is for that level of fees for next year.