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Piraeus Financial Holdings S.A. (TPEIR.AT)

Athens - Athens Delayed Price. Currency in EUR
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1.4160+0.0090 (+0.64%)
At close: 5:19PM EEST
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Neutralpattern detected
Previous Close1.4070
Open1.4150
Bid0.0000 x 315800
Ask1.4160 x 137300
Day's Range1.4090 - 1.4300
52 Week Range0.2310 - 1.4300
Volume9,996,364
Avg. Volume24,975,137
Market Cap1.771B
Beta (5Y Monthly)2.02
PE Ratio (TTM)N/A
EPS (TTM)-25.8140
Earnings DateNov 22, 2021 - Nov 26, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Zacks

    Euronet Worldwide (EEFT) to Expand in Greece Via Acquisition

    Euronet's (EEFT) agreement to acquire the Piraeus Bank Merchant Acquiring (PBMA) business of Piraeus Bank will help it explore the vast market in Greece and reap benefits from the same.

  • Benzinga

    Euronet Worldwide To Purchase Piraeus Bank's Merchant Acquiring Business For $360M

    Euronet Worldwide Inc (NASDAQ: EEFT) inked an agreement to acquire the Piraeus Bank Merchant Acquiring business of Greece’s Piraeus Bank. The transaction also involves a separately negotiated commercial agreement for a long-term strategic partnership with Piraeus Bank for collaborative product distribution, processing, and customer referrals. The agreement was the latest in a series of partnership arrangements with Piraeus Bank dating back to the early 2000s. Euronet would act as Piraeus Bank’s exclusive long-term partner to provide merchant acquiring services to Piraeus Bank customers under the arrangement. Euronet would pay $360 million (€300 million) for the segment’s acquiring services and assets that included 205,000 POS terminals at 170,000 merchants throughout Greece and the bank’s online merchant acquiring business. The in-store acquiring business represented 20% of Greece’s market, while the bank’s online merchant acquiring represented 40% of online and digital transactions in the country. Euronet would collaborate with Piraeus Bank to make a wide range of advanced technologically enabled products and services accessible. At the same time, Piraeus Bank would continue promoting and distributing the acquiring products through its extended sales channels, including its customer service centers, marketing campaigns, and 500 branches throughout Greece. Euronet was already the bank’s card issuing and merchant acquiring services provider since acquiring the bank’s card issuing and merchant acquiring processing services in 2005. Euronet would extend its REN Ecosystem platform to the Greek market for enhanced cash-based and digital payment solutions directly to customers and third-party businesses like banks, fintech, and retailers. Euronet’s cash and cash equivalents amounted to $1.4 billion as of December 31, 2020. Price action: EEFT shares traded lower by 2.91% at $153.95 on the last check Tuesday. See more from BenzingaClick here for options trades from BenzingaHuawei To Charge 5G Royalties From Apple, Samsung: BloombergGoogle Follows Apple's Move By Slashing App Store Fees By 50%© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Bloomberg

    Banks Should Brace Themselves for Some Bad News on Bad Loans

    (Bloomberg Opinion) -- The discovery of two seemingly effective vaccines has raised hopes that the world will soon return to normal. For Europe’s banking system, however, this may not be an easy transition.Bankers are bracing themselves for a big increase in non-performing loans after this year’s deep recession. From Italy to Greece, the frailest lenders are already under strain. Regulators eased the pressure on bad loans to deal with the pandemic, but there’s no sign that this will be anything other than temporary. Lenders might well have to raise more equity, at the cost of diluting existing investors.So far, Europe’s banks have coped well with the Covid-19 shock. For the previous six years, the European Central Bank had applied pressure on the industry to build up regulatory capital and cut the number of non-performing loans. Last March, supervisors decided they could temporarily give banks some breathing space in their capital and liquidity requirements, while also asking for the quid pro quo of a suspension in dividend payments. These efforts have paid off for now; the euro zone hasn’t seen any significant banking troubles.Difficulties could be around the corner, however, as bad loans always take a while to build up. Most banks have applied generous payment holidays for customers, which has clouded the picture on riskier loans. As these end, the real state of banking books will become clearer.Families and companies have enjoyed strong support from governments, which have extended grants and loan guarantees. The economic recovery — expected after vaccines become widely available — will ease some financial pressure. But the true economic cost of this year’s lockdowns will only emerge once governments withdraw emergency fiscal measures to get a grip on their budget deficits.Two banks are already under severe pressure. In Greece, the ECB won’t let Piraeus Bank SA pay a 165 million-euro ($196m) coupon on a convertible bond to the state-owned Hellenic Financial Stability Fund because it wants Piraeus to set aside more capital. This decision paves the way for a conversion of these bonds into equity, which would increase the government’s stake in the bank from about 26% to 61%. In Italy, the government is considering yet another recapitalization of Banca Monte dei Paschi di Siena SpA, as the bank fears it may breach its capital requirements this year.Many bankers — especially in Europe’s weakest economies such as Italy — want politicians and regulators to adopt more lenient measures to help them recover from the crisis. Some are listening: Andrea Enria, chair of the ECB’s Single Supervisory Mechanism (the euro area’s banking watchdog), has dusted off his plans for a regional “bad bank.” Failing that, he has another idea for a European network of national asset-management firms to help struggling lenders; a network that would have access to centralized funding from the European Stability Mechanism (the euro area’s rescue fund) or a similar institution.Bankers should shouldn’t get their hopes up, though. Brussels is working on an action plan to deal with bad loans, but it’s likely to fall short of Enria’s hopes. Stretching the ESM’s mandate to supporting bad banks would complicate existing negotiations about making it the backstop to the Single Resolution Fund, the fund that’s involved in bank failures. Moreover, more prudent countries might demand tougher rules on non-performing loans in exchange for a bad bank. There’s also the question of whether the European Commission is willing to water down permanently its rules governing state aid, after a temporary relaxation during the crisis. Brussels is set to review its rulebook that deals with bank failures at the end of next year. For now, however, there’s little sign that the EU wants to change tone. The priority appears to be closing loopholes that have let governments sidestep rules when winding down smaller and medium banks, such as two lenders in Italy in 2017. If anything, the regime could become tougher.If bad loans pile up and the situation spirals out of control, politicians may change course. Monte dei Paschi will be a litmus test on allowing state aid. But bankers shouldn’t count on much help after the pandemic. Europe’s regulatory future appears similar to the recent past.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Ferdinando Giugliano writes columns on European economics for Bloomberg Opinion. He is also an economics columnist for La Repubblica and was a member of the editorial board of the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.